Page 37 - Deductions News Today

They have to be 25 years old, and a u.s. citizen, and reside in new york state, and not out of district by the way and nothing to prevent him from being seated and i said right out of the gate and the nassau district attorneys office -- so to answer your question, there is a lot of talk. people are saying there are a lot of financial issues to look at, a big loan that was made on him to the campaign. deductions that were taken at the level of $199 to avoid a $200 threshold. when in fact its clea...

Jeopardy, i dont view the foreign situation as creating any big legal jeopardy. i mean the editorial there, that, you know, he had massive lost carry-forwards, which he used under u.s. law, and they may not have been available to him in those other countries, so to me, the main area was that -- [ audio difficulty ]. >> so unless i look through the returns line by line, i wont give any opinions whether he broke the law. the last point, real quick, you have tax owed, which is simply using the laws...

Without any receipts. we havent seen receipts for the deductions that hes claiming. at the expense hes claiming. the charitable donations hes claiming. this is a complication for the irs. the congressional committee select into this said this is a huge problem. theyre not able to really follow the train without doing a lot more investigation. as far as the loans to the kids. there is a question whether those are actually loans to the kids. where they payback interest and the principles forgiven....

66 audits additive almost 24,000 households. with donald trump who has what we call lost carry folders. which were lost or claim to be lost in prior years that they are not detecting against the current your taxes, even if the irs vowed say $10 million of improper deductions, if you get $20 million in carry forward losses you are still not going to pay me taxes. the irs generally does not pursue taxpayers if they wont for the current year be audited aides, produce any revenue. donald has been br...

His personal taxation. when it means first, campaign im not sure there are many voters who actually pull the lever for or against donald trump based on his taxpaying. if that was the case, we might have seen some different electoral results in 2016. that, said i think the republican primary opponents may be able to use some of this as political ammunition against him. certainly, the chinese bank account that he had opened for a long time is certainly something you might hear republican opponents...

Policy. and it is policy whether or not there are red flags and didnt do it for the first couple years trump was in office. the question is eyewhy and we dt know the answer yet. >> thats a question. speaking of the fishy charitable deductions, we have to go in a minute. in 2015, well let me just start at the bottom here. in 2020 donald trump made zero charitable de duductions. thats obviously the year of the pandemic when so many people and organizations were struggling. in 2019 he made 500,000 ...

He was not telling the truth, it seems. john, you are our politics man. tell us how, politically, this will affect donald trump. because hes the leader of the party that claims to be obsessed with communist china, with money from communist china, with foreigners and the anti foreigner and here is a president making them pay more money in taxes to foreign governments than our own and keeping a bank account in china. >> the good news for former president trump, as he is a candid, is that the repub...

To do that lets make sure that people like hillary clinton have to release their medical records along the way but i think this ruling sets a very dangerous precedent because why shouldnt the republicans go out and release all these tax returns of the highest echelons of the people in the democratic party? its a terrible precedent. >> makes you wonder what about the tax returns of the members of the house, ways, and means committee. look, richard neal, the chairman, has been long obsessed over r...

Of itself mean theyre breaking the law. there are plenty of legal ways to avoid taxes rather than evade them. that said, there is still plenty of dodging material within these tax returns. some of which we knew before. some of which is perhaps new. in addition to the suspicious expenses david mentioned, loans to kids that look to be gifts that would be taxable and dodging charitable deductions and a whole host of things that do look suspicious. the audits are not complete so we cant say for sure...

Justice clarence thomas. border city overwhelmed. migrants overcrowding emergency shelters as they seek asylum claims. cbs omar villafranca reports tonight from el paso. and "on the road." cbs steve hartman with a lesson in kindness, both inside and outside the classroom. this is the "cbs evening news" with norah odonnell, reporting from the nations capital. >> duncan: good evening to our viewers in the west, and thank you for joining us on this friday. im jericka duncan in for norah. tonight, s...