Whether Donald Trump is evading taxes on one of his properties, or committing fraud to make it look like he is wealthier than he is, the fact is that Donald Trump just got busted lying on the form he filled out in order to become a candidate for the presidency. According to some news outlets, this may be the reason the FBI has not released The Donald’s tax returns to the public.
Basically, The Donald has been bragging about the value of his country club in New York, The Trump National Golf Club, saying that it is worth $50 million on his candidacy form. The catch is that his lawyer claims the value is closer to $1.5 million in tax documents. Regarless of whether the lawyer is lying and Trump is just trying to avoid paying the property taxes on the golf course, or Trump is lying about the value just to save face, it is still viewed as a form of fraud to put that information on an official government document.
According to ABC News:
“Trump wrote on a candidate disclosure form that the sprawling 147-acre private club bearing his name is worth “more than $50 million. But when it came time to value the property for tax purposes, his lawyers have argued that Trump National is really worth only $1.35 million. The proposed valuation has bewildered officials in the small town of Ossining, who said the new figure would cut Trump’s tax burden by 90 percent and dump that burden on everyone else.”
This may be the reason the IRS has not released Trump’s tax documents, and it is definitely the reason Trump himself gets visibly uncomfortable just mentioning his returns. According to ABC, this is not the first time trump has been caught trying to evade paying taxes.
According to ABC, “When Trump purchased one of the most expensive luxury yachts in the world from the Sultan of Brunei, “The Princess,” he used a lease-back arrangement involving an out-of-state company to avoid having to pay $1.75 million in sales tax to the state of New Jersey for the purchase of the yacht.”