Trump Foundation acknowledges wrongdoing to IRS
Trump Foundation acknowledges wrongdoing to IRS
By Steve Benen 11/22/16 11:22AM
One of the great ironies of the 2016 presidential election is that Americans were told that one of the candidates had a controversial charitable foundation that may have run afoul of the law -- but voters were encouraged to look at the wrong candidate.
The Clinton Foundation faced a series of unproven allegations, but in the end, the entity was simply a charity that did worthwhile work around the globe. The Trump Foundation, meanwhile, faced far more credible allegations, some of which appear to be true.
We already know -- because Trump's team already admitted -- that the Donald J. Trump Foundation broke one law when it made an illegal campaign contribution to Florida Attorney General Pam Bondi, around the time the Florida Republican was weighing an investigation into "Trump University," a separate scandal-plagued Trump entity.
The Washington Post's David Fahrenthold reports today that the Trump Foundation's troubles now appear to run deeper.
President-elect Donald Trump's charitable foundation has admitted to the IRS that it violated a legal prohibition against "self-dealing," which bars nonprofit leaders from using their charity's money to help themselves, their businesses or their families.
That admission was contained in the Donald J. Trump Foundation's IRS tax filings for 2015, which were recently posted online at the nonprofit-tracking site GuideStar. A GuideStar spokesman said the forms were uploaded by the Trump Foundation's law firm, Morgan, Lewis and Bockius.
READ MORE: http://www.msnbc.com/maddowblog
By Steve Benen 11/22/16 11:22AM
One of the great ironies of the 2016 presidential election is that Americans were told that one of the candidates had a controversial charitable foundation that may have run afoul of the law -- but voters were encouraged to look at the wrong candidate.
The Clinton Foundation faced a series of unproven allegations, but in the end, the entity was simply a charity that did worthwhile work around the globe. The Trump Foundation, meanwhile, faced far more credible allegations, some of which appear to be true.
We already know -- because Trump's team already admitted -- that the Donald J. Trump Foundation broke one law when it made an illegal campaign contribution to Florida Attorney General Pam Bondi, around the time the Florida Republican was weighing an investigation into "Trump University," a separate scandal-plagued Trump entity.
The Washington Post's David Fahrenthold reports today that the Trump Foundation's troubles now appear to run deeper.
President-elect Donald Trump's charitable foundation has admitted to the IRS that it violated a legal prohibition against "self-dealing," which bars nonprofit leaders from using their charity's money to help themselves, their businesses or their families.
That admission was contained in the Donald J. Trump Foundation's IRS tax filings for 2015, which were recently posted online at the nonprofit-tracking site GuideStar. A GuideStar spokesman said the forms were uploaded by the Trump Foundation's law firm, Morgan, Lewis and Bockius.
READ MORE: http://www.msnbc.com/maddowblog
This man will be the first president who may be a tax fraud in this nations history. WOW!!!