President Donald Trump waves as he walks from the Oval Office to the Marine One on the South Lawn of the White House in Washington, Thursday, Oct. 4, 2018, for the short trip to Andrews Air Force Base where he will travel to Minnesota. Trump’s Minnesota visits aim to bolster GOP efforts in two of their top targeted Democratic districts, critical seats in their quest to maintain control of the House in a midterm election that could be bruising for the president’s party. (AP Photo/Susan Walsh)
“I am questioning everything about it, including the very documents it was placed on.” – Steve Moskowitz, Tax Attorney
The New York Times ran a mammoth of a story Tuesday alleging Trump and his family participated in suspect tax schemes during the 1990s, including instances of outright fraud, that greatly increased the president’s fortune. Tax attorney Steve Moskowitz of Moskowitz LLP isn’t buying the claims.
“I am questioning everything about it, including the very documents it was placed on,” Moskowitz told host Ethan Bearman on-air. “As a defense attorney, if I was doing this as a trial and the other side was presenting this I would rip them apart.”
The lengthy investigative piece boldly reported much of Trump’s wealth came to fruition due to his hand in helping his father take millions of improper tax deductions and the sham corporation he and his siblings set up to disguise millions of dollars in gifts from their parents. In addition, the article alleged Trump assisted in formulating a strategy to undervalue his parents’ real estate holdings by hundreds of millions on tax returns, sharply reducing the tax bill when the properties were transferred to him and his siblings.
Moskowitz’s uncertainty on the findings primarily stems from the fact the IRS determined there was nothing wrong with the “dodges,” which he stated means they were more than likely within the parameters of the law. According to him, it would have been near impossible for the agency to miss such extreme criminal maneuvers and odds are Trump and his family were simply taking advantage of the tax code.
“Everybody knows about the first part [of the tax code], squeezing taxes out of us. But, the second part that a lot of people overlook is that our taxes system is a series of incentives because the government wants us to engage in certain behavior because it is good for the economy,” he explained.
The bottom line is the burden of proof falls to the government, according to Moskowitz, so for the time being Trump is in the clear. He said if an investigation were to be opened, the commander-in-chief would at most face civil tax fraud charges given the six year statute of limitations for those of a criminal nature.
Check out Moskowitz’s full conversation with Bearman below!