From Politico: “Louisiana man charged in attempt to look up Trump’s tax records”
A Louisiana man has been charged with using a federal student loan application tool in an unsuccessful attempt to look up then-presidential candidate Donald Trump’s tax records.
The man, Jordan Hamlett, is a private investigator, according to the publication, Diverse Issues in Higher Education, which first reported the arrest. The alleged attempt occurred on Sept. 13, in the weeks leading up to the presidential election. Hamlett pleaded not guilty, according to court records.
Trump has refused to release his tax returns because he says he is under IRS audit. Government watchdogs and Democrats have said the information will provide critical information about his business interests and indicate the true value of his wealth.
Continue reading “Baton Rogue man charged with attempting to illegally look up Trump’s tax returns” »
Here are some tax crime stories on my radar today.
In Dallas: Tax issues are central to a major political corruption trial going on here in Dallas.
Powerful Dallas County Commissioner John Wiley Price faces federal charges for allegedly accepting about $1 million in bribes from a political consultant. In addition to the mail fraud and bribery charges, there are several counts related to his failure to include the alleged bribes on his federal tax returns (more here.)
The defense alleges that the purported bribes were actually legal loan repayments, and therefore did not need to be disclosed on Price’s taxes as income.
Whether this case gets resolved anytime soon is yet to be seen — A mistrial appears increasingly likely because the judge keeps ruling that the prosecution is wrongfully withholding evidence from the defense.
More: “Defense CPA says John Wiley Price did not owe taxes he’s accused of evading,” Kevin Krause, The Dallas Morning News. Continue reading “John Wiley Price, Sagar Thakkar, and more: Thursday’s Tax Brief” »
It’s arts month here in Dallas, which means that art collectors and investors from all over the world are in town.
Although art collectors will pay hefty sums for aesthetic reasons, high art prices and secretive auction sales have also become a prime money laundering vehicle.
Money laundering in the high-end art world happens in two primary ways: Continue reading “Art and Money Laundering” »
Tax reform: The House Freedom Caucus which thwarted President Donald Trump’s ability to repeal the Affordable Care Act may also imperil Paul Ryan’s tax reform plans.
The question is whether GOP leaders have the power to create a revenue-neutral tax plan — which inevitably means taking on big constituencies who would lose out under the new tax laws.
One option could be temporary cuts, which Ryan likely views as better than nothing.
More: “Ryan’s Tax Plan May Get Familiar Foes: GOP’s Conservative Caucus,” Sahil Kapur, Bloomberg. Continue reading “Jared Kushner’s Russia contacts, tax reform, UMN Profs: Monday’s Tax Brief” »
Here are some tax stories on my radar today.
1. UBS reportedly rejected a $1.2 billion settlement offer from French prosecutors and is headed to court.
French authorities say UBS facilitated money laundering and fraud by helping its wealthy clients hide money in Swiss accounts. UBS already settled similar allegations from U.S. and German regulators, but faces an investigation in Belgium too. The company describes those accusations as “unfounded.” (NYT/Dealbook) Continue reading “UBS vs. France, Texas Property Taxes: Monday’s Tax Brief” »