Two separate New York State investigations into fraud allegations by President TrumpDonald John Trump Association of Manufacturers Calls on GSA to Start Biden Transition Voting Process Approaching 80 Million Brent Budowski Wins Race to Predict Elections for 2020 MORE and now his business is seeking to write off multimillion-dollar taxes as consulting fees, some of which appear to have gone to the president̵
The Times reported a criminal investigation by Manhattan District Attorney Cyrus Vance (D) and a civil investigation by Attorney General Leticia James (D), both conducted independently, have apparently issued summonses to the Trump Organization in recent weeks for write-offs.
This comes after Times investigation published in September, based on more than two decades, Trump’s tax records found that he withheld approximately $ 26 million in fees from unidentified consultants on several projects between 2010 and 2018.
The Times found that some of the fees appeared to have been paid to Ivanka Trump. Citing a 2017 announcement, the Times reported that the presidential adviser included payments from a consulting company that co-owned a total of $ 747,622, exactly equal to the consulting fees requested as a tax credit by Trump’s organization for hotel projects in Hawaii and Vancouver, British Columbia.
A source familiar with the matter told the Times that the lawsuits focused on the fees paid to the company at its announcement, TTT Consulting LLC, and accounted for part of the $ 26 million.
According to the Times, the company’s name apparently refers to Ivanka Trump and other members of her family.
Because Ivanka Trump serves as CEO of the companies that made the payments, she appears to have been treated as a consultant at the same time.
The Internal Revenue Service (IRS) requires consulting fees to be market and reasonable, as well as “ordinary and necessary” for running a business.
Alan Garten, a general adviser to Trump, told the Times that the reported expansion of investigations in New York was “only the latest fishing expedition in a continuing attempt to harass the company.”
“Everything was done in strict compliance with applicable law and under the advice of lawyers and tax experts,” Garten said. “All applicable taxes have been paid and no party has received an improper benefit.”
Ivanka Trump answered quickly to the Times report on Twitter on Thursday, echoing Garten’s allegations of a “fishing expedition” and adding that investigations were considered “The brake is clean and simple.”
“This ‘investigation’ by Democrats in New York is 100% motivated by politics, publicity and rage,” she added. “They know very well that there is nothing here and that there have been no tax breaks. These politicians are just ruthless. “
This fishing expedition is very clearly part of an ongoing political vendetta ⤵️https: //t.co/Gw0IKOWdeQ
– Ivanka Trump (@IvankaTrump) November 20, 2020
The district attorney’s office and the attorney general’s office declined to comment when they contacted the Times.
The district attorney’s investigation is the only active criminal case against the president, although little has been made public since Vance launched the investigation two years ago. At the outset, the investigation was based on the role of the Trump organization in the covert money given to pornographic actress Stormy Daniels, who claims to have had an affair with Trump.
The president has filed a lawsuit to block an investigation summons for his tax returns, suspending an investigation from last fall. The battle is currently being fought before the Supreme Court.
James’ civil investigation came after that Michael CohenMichael Dean Cohen Juan Williams: Defeated Trump is in legal danger Michael Cohen predicts that Trump will not return to the White House after Christmas in Mar-a-Lago Former Trump lawyer Michael Cohen suggests he voted for Biden MORETrump’s former personal lawyer told Congress that the president inflated reports on his assets when he asked for bank loans and underestimated when he wanted lower taxes.
The president has repeatedly repulsed investigations, calling Vance’s investigation part of “the greatest witch hunt in history.”