PhoncipleBone
Banned
https://www.washingtonpost.com/poli...3f6508-b0a9-11e6-8616-52b15787add0_story.html
Much more in the article. And yes, it is David Fahrenthold again.
President-elect Donald Trumps charitable foundation has admitted to the IRS that it violated a legal prohibition against self-dealing, which bars nonprofit leaders from using their charitys money to help themselves, their businesses or their families.
That admission was contained in the Donald J. Trump Foundations IRS tax filings for 2015, which were recently posted online at the nonprofit-tracking site GuideStar. A GuideStar spokesman said the forms were uploaded by the Trump Foundations law firm, Morgan, Lewis and Bockius.
The Post could not immediately confirm if the same forms had actually been sent to the IRS.
In one section of the form, the IRS asked if the Trump Foundation had transferred income or assets to a disqualified person. A disqualified person, in this context, might be Trump the foundations president or a member of his family, or a Trump-owned business.
The foundation checked yes."
Another line on the form asked if the Trump Foundation had engaged in any acts of self-dealing in prior years. The Trump Foundation checked yes again.
Such violations can carry penalties including excise taxes, and the charity leaders can be required to repay money that the charity spent on their behalf.
Philip Hackney, who formerly worked in the IRS chief counsels office and now teaches at Louisiana State University, said he wanted to know why the Trump Foundation was now admitting to self-dealing in prior years when, in all prior years, it had told the IRS it had done nothing of the kind.
What transactions led to the self-dealing that theyre admitting to? Why werent they able to recognize them in prior years, Hackney said. He said that, since the prior years returns were signed by Trump, that opened the president-elect to questions about what he had missed and how.
In September, a Trump campaign spokesman rejected the idea that Trump had done anything wrong, by using his charitys money to buy art for his bar. Instead, spokesman Boris Epshteyn said, the sports bar was doing the charity a favor by storing its art free of charge.
Tax experts said that this argument was unlikely to hold water.
Its hard to make an IRS auditor laugh, Brett Kappel, a lawyer who advises nonprofit groups at the Akerman firm, told The Post then. But this would do it.
Much more in the article. And yes, it is David Fahrenthold again.