Nostra
Diamond Member
- Oct 7, 2019
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Your Trump deflection blew up in your face, so you move to Nixon????????????????????????????????The IRS will get their chance, just like they did with Nixon, another cheat, who refused to release his taxes.
In October, came a blockbuster report: The Providence Journal-Bulletin got ahold of Nixon’s tax returns, showing he paid just $792.81 in federal income taxes in 1970 and $878.03 in 1971. His annual salary was $200,000.
He asked the Joint Committee on Taxation — Congress’ in-house office of nonpartisan tax experts — to examine his finances, and agreed to pay whatever JCT thought he still owed. At the time, many did not trust the IRS to adequately vet Nixon’s returns since agency officials ultimately reported to the White House.
In April 1974, JCT produced a 1,000-page report that found almost a dozen problems with Nixon’s returns. The agency said he owed $475,431 including interest for unpaid taxes over four years. It amounted to half of Nixon’s net worth.
The IRS simultaneously did its own audit of Nixon and came to a similar finding, determining he owed $432,787.