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What do you think will be the most shocking thing we will see in Trump's tax returns?

It's only a matter of time.

[bipartisanreport.com]

lizard 3 Apr 4
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24 comments

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10

As a tax preparer I will assume this,

He does not owe any taxes

His payment to his tax preparers is more than all of ours combined

His returns have been audited at least 4 times before they were ever filed

His returns were audited at least 4 times after they were filed

I do not understand why anyone would want to see his, they must be boring as hell.

9

Nothing.

Billionaire's tax returns are already routinely deeply scrutinized by the IRS and even if there is a mistake or bad deduction somewhere in the 8 years it will be very minor

Nothing worthy of tax evasion charges

Trump, like many of us, has never personally filled out a tax form

Like most everyone he has a tax expert do his taxes and if there is a problem it's the tax expert's bad, not Trump's

The reason Trump doesn't want to release his taxes? The Dems will very predictablely turn it into a long playing nothing burger show

5

That he donated a buck 2.98 to a food bank . The funds were then stolen by the Clinton Foundation

5

Oh my god, trump took tax deductions. No democrat has ever taken a tax deduction. Trump is a racist! Kill all of the children before they realize trump's a racist or they die in twelve years anyway. Because we love people!

You forgot your [sarcasm] sign...

@Phrankhs, I hoped it would be obvious. If I missed my mark, everyone can just look at your [sarcasm] sign. ๐Ÿ˜‰

Don't kill the children. Let them vote.

Bread and circuses.

4

Nothing to disparrage him. If I were him I would pay the least tax possible because the Government pisses it away. Especially Democrats. The working have become punished in a system becoming more intrusive in our lives and liberties. I think you will find he has donated all of his quarterly salary as President to charity or Government agencies like National parks and the VA

3

It will be absolutely nothing and I think President Trump is only holding it back to drive the Left wing Progressives crazy !! LMAO He will wait until the 2020 election as a bomb in October ... BOOM they all look like fools .. Once again ๐Ÿ™‚

3

YAWN!!!
Given that heโ€™s been in that โ€œUpper Strataโ€ all his life, given that heโ€™s got professionals taking care of it since forever, thereโ€™s simply nothing to see.

Will the Media and Dems โ€œfindโ€ something to Wet Their Pants Over?
Obviously.
They will find a reason to waste more of their constituentsโ€™ time and money while they play at pretending to โ€œdoโ€ something.

Yuppers, they will spend another +$2,000,000 to find that 9.99 he spent at a gas station two years ago and exaggerate their findings saying they found collusion with the Russians because there was a Russian living next door to the gas station!!! Morons!

2

Probably how much he pays for fuel. Paid. We got that bill now. But I don't mind. That man can be as busy as he wants so long as he keeps it up.

2

SHOCKING??. Nothing. I am much more interested in money going into the Clinton foundation and the collusion between Clinton, Obama and the Uranium one issue.

2

Your mom's picture most likely

2

As usual, I don't think anything significant will be found!

2

First I'm not convinced we will see his tax returns. If he doesn't want to show them, I think he has enough legal tools to gum up the works until after a second term.

I have little doubt that anyone in his income class will have something that can be construed as sketchy in their income taxes. There might be some interesting tax avoidance strategies but, not evasion. In the Texas oilfields this would be referred to as a dry hole.

Pretty sure it's not require by law for him to make them public, so he won't need any tools to gum anything up....

@Sunrise45 It's definitely not required by law. I'm unsure what can be done with subpoena power but, there sure seems to be a lot that can be done to ignore those.

At present and for the foreseeable future there will be NO showing of any tax returns. He is being audited. End of story. I would like to see every Congressman & woman's returns first.

2

That it takes another 2 years to find absolutely nothing.

2

That he does what all of the screaming elites do, maximize deductions and pay as little in taxes as possible and back it up with very good accountants. He has said this himself and quite honestly, compared to what prior administrations have gotten a free pass on, I don't care!

He said something about trying to change that... I wonder if Mnuchin figured out a way. He's not as good with numbers as Mick Mulvaney, but, he's a good guy, and seems to want to do his job. Which is more than we can say for Sessions and his two year goodbye tour.. in which he got little done.

1

I think it only fair that Obama's and Clinton's tax returns for the past 10 years should be examined thoroughly also.....and we will find out who paid their taxes! As well as other things!!!

1

Nothing to disparrage him. If I were him I would pay the least tax possible because the Government pisses it away. Especially Democrats. The working have become punished in a system becoming more intrusive in our lives and liberties.

1

Considering the fact that he has always been a businessman, I don't think anything shocking will be found. Not sure they will be squeaky clean either. Anyone that owns a business will play in the gray areas with their taxes if they think they can get away with it.

1

That we will never see his tax returns

0

Less zeroes.

0

I am an accountant and have completed many large tax returns. They are the simple ones to do compared to middle class and below. There will be no Schedule A because at that income level a itemized expenses are gone due to income level. There will be a Schedule B reporting all interest and dividends earned and a Schedule D for stock gains and losses and possible loss carry forward or back. There may also be a schedule E to report partnership gains and royalties There are very few with W-2 income because their income is in dividends or stock payments. BTW all of this information is confirmed by comparing to Information Returns filed to IRS by outside sources.So the 1040 will be boring. All you can do is look and swoon at the big numbers.

Everything else will be in Form 1120s which are corporate returns and take a full blown audit to assess with a large audit team. Most large corporations have IRS offices in their main office examining, usually 3 year earlier return.

So there you have it in a nut shell. This is nothing but politics at its worst.

I stand to correct my self on Charitable Contributions, Your deduction for charitable contributions generally can't be more than 50% of your adjusted gross income (AGI), but in some cases 20% and 30% limits may apply.

0

Two things: how much tax he paid and how much charity he gives.

Charity donations? No, he does not need a Schedule a as those exemptions are long gone and meaningless at these income levels.

0

You won't see them

0

NOTHING.....Maybe that he's worth more than anyone thought or knew.

0

I care only about the time he was President. If they they insist they are to be pubic. You can get the tax returns from both his and the clinton foundation online FOIA i have Some you have to request some are right there but shocking on one hand not so much on the other. So i not concerned about his personal return's.

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