Trump Foundation Admits To Financial Improprieties

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President-elect Donald Trump’s charitable foundation engaged in self-dealing in 2015 and prior years, the foundation said in an Internal Revenue Service filing.

That self-dealing, which typically triggers additional taxes for anyone who got improper benefits, resulted from payments to “disqualified persons,” or foundation insiders, according to the document. The document, which was the foundation’s tax return for 2015, doesn’t provide more details. Representatives for Mr. Trump didn’t respond to requests for comment Tuesday.

The tax form asks if any income or assets were transferred to a disqualified person, and the foundation checked “yes.” The signed, undated form was posted on Guidestar, a website that compiles nonprofits’ tax forms. Guidestar said it was submitted by the law firm representing the foundation and that it might not be the exact final version that gets submitted to the government.

“They admit at this point that there are problems with their prior returns,” said Phil Hackney, a Louisiana State University law professor who has been examining the returns.

read more at wsj.com

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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!

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