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NY investigates Trump’s consulting payments that cut his taxes

New York (AP)-The Attorney General of New York has sent a summons to the Trump organization for records related to consulting fees paid to Ivanka Trump as part of an extensive civil investigation into the president’s commercial transactions. The law enforcement officer said Thursday.

The New York Times, citing anonymous sources, reported that a similar summons was sent to President Donald Trump’s company by the District Attorney Manhattan, who is conducting a parallel crime investigation.

The Associated Press could not immediately and independently confirm the district attorney’s subpoena, but the subpoena sent by Attorney General Letitia James was explained to an official who spoke on condition of anonymity. Explained by.

The request for records is based on Trump’s 20-year tax return, which recently said The Times reduced the company’s income tax debt over the years by the president deducting a $ 26 million consulting fee as a project cost. Following the report.

According to records, The Times strongly suggests that $ 747,622 of these fees were paid through a company owned by the president’s daughter, Ivanka Trump, who was also an executive at the Trump Organization. ..

If so, as long as she pays income tax on her publicly reported consulting payments, it may not necessarily be a problem for Ivanka Trump herself.

However, it may raise questions about whether the relevant tax deductions of the Trump organization are acceptable. The Internal Revenue Service has pursued civil penalties in the past for the amortization of large consulting fees that were found to have been done to avoid tax obligations.

The Times wrote that there were no signs that Ivanka Trump was the subject of a state or city investigation.

“This is pure and simple harassment,” she said on Twitter late Thursday. “This’investigation’by Democrats in New York is 100% motivated by politics, publicity and anger. They are well aware that there was nothing here and that there were no tax incentives. These politicians are simply ruthless. “

The Trump Organization lawyer, Allangerten and his media public relations office, did not immediately return a message on Thursday.

James and Manhattan District Attorney Cyrus Vance Jr. are both Democrats and both are conducting extensive research into Trump’s business.

In both surveys, news reports and former Trump presidential attorney Michael Cohen have inflated the value of some assets to impress banks and business partners, but when seeking taxes Benefits that are at least partially related to the claim of lowering.

Vance has been involved in a long court battle for access to Trump’s tax returns as part of his investigation.

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NY investigates Trump’s consulting payments that cut his taxes

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