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Releasing Tax Returns Under Audit: Is Trump Right or Wrong?
Tax Warrior Chronicles ^ | Tue, Mar 01, 2016 | Tax Warrior Chronicles

Posted on 05/11/2016 5:01:00 PM PDT by JayGalt

Tax Warrior Chronicles Last week, at the Republican presidential debate in Houston, GOP frontrunner Donald Trump claimed he could not release his tax returns. "I will absolutely give my return, but I'm being audited now for two or three years, so I can't do it until the audit is finished, obviously,” he said. But how much of this is true? Here’s what The Tax Warriors® have to say…

(Excerpt) Read more at taxwarriors.com ...


TOPICS: Government; News/Current Events; Politics/Elections
KEYWORDS: taxtrumpromney
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To: Chaguito; anton; PubliusMM; DaltonNC; upsdriver; odawg; jacquej; E. Pluribus Unum; ...

Trump 2016!


41 posted on 05/11/2016 6:01:01 PM PDT by JayGalt
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To: JayGalt

Maybe the IRS will get off their dead political a$$e$ and finish the audits .... so they can jump right on the Clinton Global Crime Initiative charity scam and bribery money laundering crime!


42 posted on 05/11/2016 6:06:22 PM PDT by RetiredTexasVet (The answer: To frustrate FOIA requests and conceal the money laundering of bribes thru the CGCI!)
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To: Tucker39

“I think the answer, or at least a pretty big part of it, is green-eyed jealousy. They’re salivating to rifle through Trump’s finances.”

I think you are correct. But again, the audit part is just an excuse. He doesn’t want to release them and there are many reasons why. He doesn’t want people looking through his businesses, he doesn’t want people to be jealous of the big numbers. All that is probably true, but why does he use the audit excuse?

None of those reasons have anything to do with being audited.


43 posted on 05/11/2016 6:06:32 PM PDT by Beernoser
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To: JayGalt

Don’t about his tax returns. Talk about complicated returns.


44 posted on 05/11/2016 6:12:53 PM PDT by ironman
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To: Beernoser
Your lawyer doesn’t want you to release anything publicly? Yeah. lawyers never want you to release anything unless you’re forced to.

Lawyers are generally paranoid. They anticipate a 100 bogus problems for every legitimate one.

The audit crap is just an excuse.

That's the bottom line.

45 posted on 05/11/2016 6:17:52 PM PDT by CommerceComet (Hillary: A unique blend of incompetence and corruption.)
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To: Beernoser

You may be right. I don’t know. But Trump is the one in the arena, standing up to the onslaught, not me. So....far be it from ME to start second-guessing him.


46 posted on 05/11/2016 6:19:09 PM PDT by Tucker39 (Welcome to America! Now speak English; and keep to the right....In driving, in Faith, and politics.)
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To: JayGalt

I don’t give a flying flock about his tax returns. I’m sure if there’s anything wrong or incorrect in any of them, Obama’s IRS will make everyone well aware of that.


47 posted on 05/11/2016 6:19:26 PM PDT by Cementjungle
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To: Cementjungle

“I don’t give a flying flock about his tax returns. I’m sure if there’s anything wrong or incorrect in any of them, Obama’s IRS will make everyone well aware of that.”

Your answer is the correct one cementjungle. He doesn’t want to release them and that’s his right. And who cares about his taxes anyway.

That’s right, so stop with the nonsense about audit’s Mr Trump. You don’t need to make up excuses. It just shows you as being duplicitous. Just say you don’t want to release them and leave it at that.


48 posted on 05/11/2016 6:23:36 PM PDT by Beernoser
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To: JayGalt
There are downsides to him releasing complete tax returns since they allow competitors access to info about how he structures his businesses that would allow them to target weak points. That would be irresponsible for him to allow since so many employees & investors could be affected.

It is doubtful that much of strategic value is contained in his personal returns. The valuable stuff for competitors would be in the corporate or partnership returns and even then, there is little there that couldn't be obtained from other sources. I don't believe that anyone is calling for the release of those returns.

49 posted on 05/11/2016 6:27:05 PM PDT by CommerceComet (Hillary: A unique blend of incompetence and corruption.)
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To: anton
Romney is a moron or a liar.

And a hypocrite, too. Some of us remember getting Romney to release his tax returns in 2012 was like pulling teeth.

50 posted on 05/11/2016 6:32:50 PM PDT by CommerceComet (Hillary: A unique blend of incompetence and corruption.)
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To: CommerceComet

Did you read the linked article by Taxwarriors? I am reporting based on their analysis, not my opinion since I’m not an expert.


51 posted on 05/11/2016 6:45:59 PM PDT by JayGalt
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To: JayGalt

His political enemies couldn’t be bothered to read the Affordable Care bill before they voted for it, but they are anxious to pore over boxes and boxes of Trump’s tax detail, and demand to see them?
Trump is right to tell them to pound sand.


52 posted on 05/11/2016 6:50:24 PM PDT by tumblindice (America's founding fathers: all armed conservatives.)
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To: tumblindice

Trump is not going to get pushed into doing anything. He has his ducks in order.


53 posted on 05/11/2016 6:56:38 PM PDT by JayGalt
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To: JayGalt

“Did you read the linked article by Taxwarriors? I am reporting based on their analysis, not my opinion since I’m not an expert.”

Yes the article gives many reasons why Trump wouldn’t want to release his tax returns. But none of those reasons have anything to do with whether you’re being audited or not. It did say that tax professionals and lawyers would advise you not to release them, but again, ask a tax adviser or lawyer whether you should ever voluntarily give up any info and they’re always going to say no. Be prudent. Don’t release anything.

I have nothing against Trump saying he won’t release his returns. I don’t even think he needs to give an excuse. I just want him to stop thinking he’s fooling people with the audit excuse. We’re not that stupid.


54 posted on 05/11/2016 6:57:03 PM PDT by Beernoser
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To: JayGalt

I don’t give a ratsass about his tax returns. As long as he does 50% of what he says, it’s good enough for me. Our current GOP hasn’t done 5% of what they said they were going to do.


55 posted on 05/11/2016 7:31:46 PM PDT by LibFreeUSA
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To: JayGalt
Did you read the linked article by Taxwarriors? I am reporting based on their analysis, not my opinion since I’m not an expert.

No, I was responding to what you wrote. For curiosity sake, I'll go back and read it later.

I don't claim to be a tax expert but I have prepared a lot of tax returns in my previous career. Although my area of specialization are in audit and forensics, I have prepared enough corporate returns to question whether they would have much strategic value for a competitor.

Having been through tax audits with clients before, the audit excuse for Trump not releasing his returns doesn't pass the smell test, IMO. If Trump doesn't want to release his returns based on principle, he should just say so.

56 posted on 05/11/2016 8:53:08 PM PDT by CommerceComet (Hillary: A unique blend of incompetence and corruption.)
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To: JayGalt

Romney and the MSM will trash anything and everything if they can get their hands on Trump’s taxes. No reason to turn them over.. none whatsoever.


57 posted on 05/11/2016 9:22:50 PM PDT by GOPJ ("What the hell is "conservative" about uncontrolled immigration and corporate trade pacts?")
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To: Jarhead9297

This is the kind of vapid airhead 2 second attention span shi.... That drives me crazy as hell!
*****************************************
Fully agree! ...It’s as bad as the media reporting how much each candidate, VP/POTUS gave to charity or their religion.

That info doesn’t come from the 2 pages of the 1040, so had to come from Skd. A or another source. WGAS????


58 posted on 05/11/2016 10:43:17 PM PDT by octex
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To: JayGalt; All

Any candidate should only release page 2 of the 1040 with everything redacted other than his signature, date and the dollar amount of taxes that he paid.


59 posted on 05/11/2016 11:00:35 PM PDT by octex
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To: JayGalt
Trump never said he wasn't releasing his returns because of a law prohibiting the release. He said he wasn't releasing the returns under advice of Council.
60 posted on 05/12/2016 1:08:42 AM PDT by billyboy15
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