Lawrence O'Donnell is going through all the tax evasion numbers - Weisselberg is royally screwed!!!!

[George II]

[RKP5637]

1. K&R!!!!!!!!!!!!!!!!!!!!!!!!!!!!! n/t

[triron]

2. Not watching. Anyone?

[sheshe2]

3. Yep...

[George II]

4. Bazinga!

[sheshe2]

5. Weisselberg indictment.

[Laura PourMeADrink]

6. Why? Thought it was just a million, taxes on a million?

[Hoyt]

8. I did too. But there are a few threads here that show it's a bit over $1 M Taxes avoided. Then,

there is a breakdown. I remember $550,000 in owed in Federal Taxes, plus $95,000 improper refund payed to him. I think the rest of the Million is state and city taxes.

And, I don't think that includes any fines and penalties, hefty interest charges over 15 years, etc.

[Laura PourMeADrink]

9. Thanks. Hard to believe even this would doom the

Trump enterprise, like some are saying. Or even Weaselburg who makes 925k per year salary.
I must be missing something.

[Hoyt]

11. Agree. Don't think it's going to materially damage trump organization

unless they have proof trump approved the scheme, maybe taking a cut, and/or participated himself.

But I understand people wanting trump held accountable for something.

[Laura PourMeADrink]

14. This is actually a gift to those of us who are numbers and accounting nerds

Yesterday i downloaded Trump's financial disclosure in 2019. Nowhere in assets did I find this "trump payroll corporation" that was listed on the indictment. Then I found trump's final disclosure for 2020. And there it was - no assets just an entity 100% owned by DJT Holdings LLC. I found this very curious. It's almost like they were anticipating what entity would be sued.

The other entity "Trump corporation" was listed with 53 million in assets and 11 million income. The 100% owner of that entity is the "Donald J Trump irrevocable trust"

What you don't know is whether the 11 million was distributed. Nor what the assets consist of. It's like a puzzle with some of the pieces missing.

[malaise]

7. The Reckoning

has arrived

[sheshe2]

10. It's here.

[Grasswire2]

13. I think it's called "The Fuckening" now.

I saw that on FB.

[Mary in S. Carolina]

12. Keogh Plan

Weisselberg is an employee and is not self employed; yet he received a 1099 (given to self-employed persons) for, I believe, $127,000. He paid no taxes on this amount because he claimed a $127,000 tax deduction by putting this money into a Keogh Plan (a retirement plan for self employed, not employees) that is worth hundreds of thousands of dollars today.

Weisselberg will need to pay taxes on the $127,000, but even more important, his Keogh Plan will be collapsed and he will not get the hundreds of thousands of dollars in the Keogh Plan.

This is serious fraud and just plain dumb because it is easy to prove??? I think this is much worse than Martha Stuart's $40,000 debacle.

I know 2 people who went to prison for tax evasion for 3 years; their crime was not nearly as bad as Weisselberg' fraud.