Tue Feb 14, 2017, 12:36 PM
sagesnow (2,721 posts)
Question: If Trump did business with Russia...
did he have to file tax returns with Russia and would it be noted on his US tax returns??
Show us Trump's tax returns!
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4 replies, 729 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
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Author | Time | Post |
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sagesnow | Feb 2017 | OP |
ALBliberal | Feb 2017 | #1 | |
DetlefK | Feb 2017 | #2 | |
Caliman73 | Feb 2017 | #3 | |
hollowdweller | Feb 2017 | #4 |
Response to sagesnow (Original post)
Tue Feb 14, 2017, 12:47 PM
ALBliberal (1,893 posts)
1. There are forms filed with the US Treasury that are required to disclose
foreign business and accounts. These forms are done hand in hand with the US tax return and the IRS requires their completion. A look at his 1040 and these treasury forms should tell the whole story. Not sure about whether Russia requires a return. We do have returns for non residents so maybe its similar in Russia.
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Response to sagesnow (Original post)
Tue Feb 14, 2017, 12:47 PM
DetlefK (16,373 posts)
2. That's a very interesting question. My guess is Yes.
Countries are cooperating when it comes to coordinating pensions or pension-claims. You can earn a pension-claim in one country, then move to another. The first country will pay your pension to the second country and the second country will pay it to you.
My guess would be, that the same goes for taxes. |
Response to sagesnow (Original post)
Tue Feb 14, 2017, 12:53 PM
Caliman73 (10,786 posts)
3. You typically file taxes in the country where your business is headquartered.
He may have had to pay some kind of taxes in Russia, but his income from his business in Russia would have to be reported on his United States tax returns. That is part of the problem that the government has with businesses wanting to move their headquarters to the Cayman Islands or the Bahamas where it ends up being a P.O. box or a room for tax purposes.
I know that my tax returns (and mine are pretty simple) asks me if I had any foreign holdings, accounts, or if I had any income or losses from business in a foreign country. I would assume that Trump's people would need to record that, which is pretty much the reason his tax returns have not come out in my opinion. Everyone would know how deep in he is with Russia. |
Response to sagesnow (Original post)
Tue Feb 14, 2017, 01:10 PM
hollowdweller (4,229 posts)
4. You can be pretty sure if anything's in Russia CIA is looking for it.
I think they are after him. Can you imagine? Who was the first person there who found this stuff and knew it was dynamite? What is it like for a person to be working on intelligence that could result in the removal of a US president??? Also if it comes down, what a huge karma payback for the GOP's continual attempts to find something wrong on dems. |