Thank you to all who worked to make possible the Bradford-Sullivan Counties Veterans Appreciation Day picnic. We had a very nice time and it was an entirely pleasant day for my wife and I. It was a beautiful day and we met many nice folks. Thank you to everyone who made this possible.
Joe and Helen Vermilya
Trump’s tax returns
A frequent letter writer asked what is Trump Hiding by not revealing his tax returns. Trump has stated that his tax returns are under IRS audit and can’t be revealed until they conclude their audit.
The general public most likely has no idea what an audit of Trump’s tax returns would involve. First, there would be a team of agents. This team would audit the local records that were available. However, they would have to send out collateral request to IRS agents all over where other Trump businesses and related records are located. Then there would be an IRS engineer specialist who would come in to analyze depreciation and capital improvements issues. Then there would be computer audit specialist called in to due what is called statistical sampling of large expense accounts. Then a pension specialist would be brought in to audit pension issues. Most likely the audit would cover two tax years. Similar teams are involved where a large corporation has related business entities spread all over the country and even out of country. Those audits commonly take up to three years to complete. With Trump’s empire, it is not inconceivable that it would take up to four years to complete the audit.
How about what Obama is hiding by burying his college records. Did he apply for college grants as a “foreign” student? How did he get a Social Security card out of a state he did not live in? Did he apply for a visa to come into the USA because he was a foreigner or did he apply as a U.S. born citizen?
Who is hiding the most from the public?
I have been retired from the IRS for over 20 years so I have no current information regarding the actual audit or perhaps non-audit of anyone’s tax returns.