Clarence And Ginni Thomas Have Given Harlan Crow A Huge Tax Headache | Crooks and Liars

Clarence And Ginni Thomas Have Given Harlan Crow A Huge Tax Headache

How elite corruption operates “everyone does it ” so Trump shouldn’t be charged is his and the Republicans’ Defense cry.

But it’s not just Clarence Thomas on the wrong side of the law. According to tax law, those trips, flights and vacations could be gifts subject to gift tax. They were supposed to be reported by Harlan Crow to the IRS at the time they were given. IRS rules state that “The gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. The tax applies whether or not the donor intends the transfer to be a gift.

Source: Clarence And Ginni Thomas Have Given Harlan Crow A Huge Tax Headache | Crooks and Liars

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