Ivanka Trump Dismisses New York Probes as 'Harassment'

Cheryl Sanders
November 21, 2020

The company of the current American leader received a similar subpoena from the Manhattan District Attorney Cyrus R. Vance Jr., who is conducting a criminal investigation on the same topic.

According to The Times, both Vance and James have issued subpoenas as part of their investigations into the money paid to Ivanka Trump.

In this way, the judge and prosecutor have required documentation from the Trump family business conglomerate, the Trump Organization, regarding these expenses, which could add to a list of judicial problems that the president will have to face once he leaves the White House in January of According to information from Somagnews. "This "inquiry" by NYC democrats is 100% motivated by politics, publicity and rage".

NY prosecutors have launched an investigation into the daughter of the current US President Donald Trump Ivanka.

Among the revelations was that Trump reduced his taxable income by deducting about $26 million in fees to unidentified consultants as a business expense on numerous projects between 2010 and 2018.

The report found that Donald Trump reduced his taxable income by claiming almost $30 million in fees paid to unnamed consultants as a business expense between 2010 and 2018.

There is no suggestion that Ivanka Trump is herself the focus of the probe.

Ivanka Trump was an executive officer of the Trump companies that made the payments, meaning she appears to have been treated as a consultant while also working for the company. The Internal Revenue Service has, in the past, pursued civil penalties over large consulting fee write-offs it found were made to dodge tax liability.

Alan Garten, general counsel for the Trump Organization, said in a statement that "this is just the latest fishing expedition in an ongoing attempt to harass the company".

"Everything was done in strict compliance with applicable law and under the advice of counsel and tax experts", he said. They know very well that there's nothing here and that there was no tax benefit whatsoever. The Times reported that its unclear if the IRS ever raised questions to the Trump Organization about the write-offs. There has been a long battle over getting subpoenas for Trump's returns; this is a victory for NY.

A tax adviser who has worked with the Trump Organization said that such consulting fees were not uncommon. Representatives for the Manhattan district attorney, NY attorney general and Trump Organization declined to comment.

The recent claims are the most severe allegations placed on Trump as he heads out of the White House.

The investigation has been stalled since last fall, after the president filed a lawsuit to block a subpoena for his tax returns and other financial records. The Supreme Court is expected to rule on the matter soon.

She was referring to a New York Times article that also said that the two investigating officials - the New York state and city state attorneys - had subpoenaed the Trump Organisation for more information.

Both investigations are at least partly related to allegations, made in news reports and by President Trump's former lawyer, Michael Cohen, that Trump had a history of inflating the value of some assets to impress banks and business partners, but lowering that value when seeking tax benefits.

Investigators in James' office have scrutinized a widening array of transactions. "I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits".

The Times published details of the president's confidential tax returns in September and reported that he had paid no income taxes at all in 10 of the previous 15 years. "We will just follow the facts and the evidence, wherever they lead us".

Other reports by iNewsToday