Intense Probe of Trump Family Taxes

Donald Trump

CBJ — Another day, another Donald Trump story

Although he has already claimed he’s done nothing wrong on his taxes, some experts are now saying he may be on the hook for millions of dollars in fines if state and federal authorities substantiate claims by the New York Times that he and his family cheated the IRS for decades.

The statute of limitations for bringing criminal charges has long run out, but civil cases have no limits, and the financial penalties could be massive.

The White House dismissed the report as a “misleading attack against the Trump family by the failing New York Times,” but spokeswoman Sarah Huckabee Sanders said the newspaper got one thing right: Trump’s father not only did deals with his son but heaped praise on him by saying “everything he touched turned to gold.”

The New York Times says Trump received at least $413 million from his father over the decades, much of that through dubious tax manoeuvrs, including outright fraud.

@CanBizJournal

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