Live Breaking News & Updates on Gift tax implications
Stay updated with breaking news from Gift tax implications. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
and hadn't tried to hide the money being withdrawn, would it have been legal to just have given $3.5 million to this former student and that would have been fine? >> based on what i know now i think it would have been perfect perfectly legal. we can give money to anyone we want basically for almost any reason. there might be some gift tax implications but that's not a criminal matter. the charge here exclusively relates to the currency transaction reports. the structuring of the money, and -- and the lying to the fbi. if he had simply written a check to this person and that was the end of it i think -- i don't think there's any possibility we would be here in a criminal matter at all. >> jeffrey toobin thank you so much. coming up the rain refusing to let up in texas. highways turned into lakes. rivers overflowing their banks and expected to get worse over