|[Published: Friday November 20 2020]
Trump tax write-offs ensnared in two New York fraud investigations
NEW YORK, 20 Nov. - (ANA) - Inquiries into the US president Donald Trump and his businesses, one criminal and one civil, are now looking at tax deductions taken on consulting fees.
Some of the payments appear to have gone to Ivanka Trump.
The inquiries — a criminal investigation by the Manhattan district attorney, Cyrus R. Vance Jr., and a civil one by the state attorney general, Letitia James — are being conducted independently. But both offices issued subpoenas to the Trump Organization in recent weeks for records related to the fees, the people said.
The subpoenas were the latest steps in the two investigations of the Trump Organization, and underscore the legal challenges awaiting the president when he leaves office in January. There is no indication that his daughter is a focus of either inquiry, which the Trump Organization has derided as politically motivated.
The development follows a recent New York Times examination of more than two decades of Mr. Trump’s tax records, which found that he had paid little or no federal income taxes in most years, largely because of his chronic business losses.
Among the revelations was that Mr. Trump reduced his taxable income by deducting about $26 million in fees to unidentified consultants as a business expense on numerous projects between 2010 and 2018. - (ANA) -
AB/ANA/20 November 2020 - - -