A year and a half or so later, we are Top Never Underestimate An Old Woman Who Loves Baking Shirt finally seeing some information about his personal income tax return, a Form 1040, the same that you and I and virtually everyone else files on an annual basis. So what can we actually surmise from the information that has come to light today? Can we say for certain that Trump is guilty of tax evasion and not just tax avoidance Trump owns (the income and losses from most of which, despite what people are saying elsewhere, should be reported on his 1040)? The vast majority of his tax avoidance would be done.
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On the business returns, as Top Never Underestimate An Old Woman Who Loves Baking Shirts would, if it were occurring, probably all tax evasion. For people that own a lot of businesses, as Trump does, it can get complicated rather quickly. The complexity of the tax code is a feature, and not a bug. Very wealthy people and corporations can have years in which they pay no income tax without being guilty of fraud. It’s possible. I don’t have enough information here to say for certain that Trump’s returns are fraudulent. I wouldn’t stake my status as a professional on such claims, in any case.
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