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Could Trump be on the hook for taxes on his $1.8B ‘slush fund’? Some experts say yes

The Independent·Bruce Golding·3 days ago
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President Donald Trump may be liable for hundreds of millions of dollars in personal taxes on the controversial, $1.776 billion deal he struck with the IRS over his leaked returns, some experts say. The unprecedented May 18 agreement calls for the creation of an "Anti-Weaponization Fund" to compensate what acting Attorney General Todd Blanche has called "victims of lawfare" by the Justice Department, Terms of the deal say money for the fund — which critics claim would likely pay rioters who tried to keep Trump in office by storming the U.S. Capitol on Jan. 6, 2021 — isn’t “taxable income” for Trump because he won’t receive any “economic benefit” from it. But tax experts are divided on the matter. Lawrence Zelenak, a tax law professor at Duke University School of Law, told Politico it was "more likely than not" that Trump would, indeed, owe taxes on the settlement amount.…

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