Well look at that: A joint New York Times/ProPublica investigation found that fat former President Trump’s taxes really are under audit and he could face $100 million in penalties for double-dipping on some kind of write-off scam with the Trump Tower Chicago, something which sounds awfully familiar given that potential criminal tax fraud CREW found and reported to the FBI.
Like everything with Trump and his corrupt business empire, the minutiae are arcane and complicated as fuck and we’re not even going to pretend to understand it. “The tax experts gave the weakest chance of surviving a challenge for a worthlessness deduction based on borrowed money for which the outcome was not clear. It reflects a doubly irrational claim – that the taxpayer deserves a tax benefit for losing someone else’s money even before the money has been lost, and that those anticipated future losses can be used to offset real income from other sources. Most of the debt included in Trump’s worthlessness deduction was based on that risky position,” they write in one of the many paragraphs in the very lengthy article. It doesn’t sound good for Donald though.