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Clinton Foundation to refile taxes after errors emerge

Discussion in 'BBS Hangout: Debate & Discussion' started by MojoMan, Apr 23, 2015.

  1. MojoMan

    MojoMan Member

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    It appears that the Clinton Foundation reported to the IRS that it received no financial contributions from foreign governments, when in fact tens of millions of dollars of such contributions were made.

    Oops, right?

    Well, now the Clintons are having the taxes for their foundation refiled. Also, let's not forget that a lot of personal expenses of Bill and Hillary are apparently bankrolled by this foundation.

    No word on whether the IRS will audit the returns of the Clinton Foundation after these outrageous omissions. It may be difficult for the IRS to find the manpower, as they apparently have other priorities which they regard as far more important than a corrupt politician who is running for president evading taxes and submitting falsified returns.

    Yet another "Phony scandal?" You decide.
     
  2. Dubious

    Dubious Contributing Member

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    I don't care who gives what to the Clinton FOUNDATION. It's the Big Dog's charity and they do a lot of good work.

    With Adelson, the Koch's and PAC's directly involved in influencing elections,
    foundation gifts are comparatively far removed from influencing policy. But you would be naive to think that quid pro quo isn't the standard procedure.
     
  3. Amiga

    Amiga 10 years ago...
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    Errors happen. Not a scandal.
     
  4. PhiSlammaJamma

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    Funny. I built a foundation website based on the model of their site.
     
  5. JuanValdez

    JuanValdez Contributing Member

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    I doubt it. I think the more likely reality is that they received donations from foreign governments and someone thought political enemies could potentially seize on that and manufacture a phony scandal. So they constructed their reporting in a way that didn't make it completely obvious and crossed their fingers hoping no one would notice. Of course, when someone did notice, the fact that they tried to cover it up made the whole thing look worse than it probably is.

    I'm glad foreign governments are giving money to nonprofits governed by American-dominated boards. There is still a lot of work to be done, though, if someone wants to convince me that Clinton did foreign policy favors in return for donations. That's a big accusation that needs a solid case, and honestly the supposed motive doesn't look very compelling to me.
     
  6. Major

    Major Member

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    Wait - what taxes did she evade? Did I miss something here?

    Yes.

    And just to clarify, in your world, unlimited anonymous campaign contributions are OK, but foreign contributions to a related but separate nonprofit are not. Is that correct?
     
  7. RockFanFirst

    RockFanFirst Member

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    They shouldn't have gone to H&R Block to file taxes for such a large, generous, foundation.
     
  8. justtxyank

    justtxyank Contributing Member

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    It's debatable whether it matters, but come on, "errors happen?"

    Yeah right. The accountants for a foundation that receives massive amounts of money from foreign governments "accidentally" told the IRS that they didn't.

    It cracks me up how many people use the "errors happen" excuse when they cheat on their taxes.
     
  9. basso

    basso Contributing Member
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    fortunately, the NYTimes has done the work for you:

    [rquoter]As the Russians gradually assumed control of Uranium One in three separate transactions from 2009 to 2013, Canadian records show, a flow of cash made its way to the Clinton Foundation. Uranium One’s chairman used his family foundation to make four donations totaling $2.35 million. Those contributions were not publicly disclosed by the Clintons, despite an agreement Mrs. Clinton had struck with the Obama White House to publicly identify all donors. Other people with ties to the company made donations as well.

    And shortly after the Russians announced their intention to acquire a majority stake in Uranium One, Mr. Clinton received $500,000 for a Moscow speech from a Russian investment bank with links to the Kremlin that was promoting Uranium One stock.

    At the time, both Rosatom and the United States government made promises intended to ease concerns about ceding control of the company’s assets to the Russians. Those promises have been repeatedly broken, records show.

    The New York Times’s examination of the Uranium One deal is based on dozens of interviews, as well as a review of public records and securities filings in Canada, Russia and the United States. Some of the connections between Uranium One and the Clinton Foundation were unearthed by Peter Schweizer, a former fellow at the right-leaning Hoover Institution and author of the forthcoming book “Clinton Cash.” Mr. Schweizer provided a preview of material in the book to The Times, which scrutinized his information and built upon it with its own reporting.

    Whether the donations played any role in the approval of the uranium deal is unknown. But the episode underscores the special ethical challenges presented by the Clinton Foundation, headed by a former president who relied heavily on foreign cash to accumulate $250 million in assets even as his wife helped steer American foreign policy as secretary of state, presiding over decisions with the potential to benefit the foundation’s donors.[/rquoter]
     
  10. SamFisher

    SamFisher Contributing Member

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    So in your knowledge of nonprofit tax law, what benefit did they receive with this cheat?
     
  11. justtxyank

    justtxyank Contributing Member

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    Cheat was the wrong word from me because I don't think they were trying to cheat the IRS.

    Lie is better.

    They lied on the taxes because they had made public claims about not accepting foreign donations any longer while she was MSec. Her people made it a big deal during those years, stating they stopped accepting donations to avoid any conflict of interest.
     
    1 person likes this.
  12. basso

    basso Contributing Member
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    [rquoter]Some experts in charity law and taxes said it was not remarkable for a charity to refile an erroneous return once in a while, but for a large, global charity to refile three or four years in a row was highly unusual.

    "I've never seen amendment activity like that,"
    said Bruce Hopkins, a Kansas City lawyer who has specialized in charity law for more than four decades, referring to the CHAI filings.[/rquoter]

    http://www.reuters.com/article/2015...clinton-taxes-exclusive-idUSKBN0NE0CA20150423
     
  13. basso

    basso Contributing Member
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    "Twenty-two of the 37 corporations nominated for a prestigious State Department award — and six of the eight ultimate winners — while Hillary Clinton was Secretary of State were also donors to the Clinton family foundation."

    http://m.washingtonexaminer.com/article/2563476
     
    1 person likes this.
  14. SamFisher

    SamFisher Contributing Member

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    So in your knowledge of nonprofit tax law, what benefit did they receive with this cheat?
     
  15. Amiga

    Amiga 10 years ago...
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    Yes, errors happen. Come on, you tell me no one ever made an error in their tax returns? Show me motive and I'll consider changing my mind.
     
  16. basso

    basso Contributing Member
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    errors on this scale, with this frequency, don't happen.
     
  17. MojoMan

    MojoMan Member

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    What a coincidence.
     
  18. Amiga

    Amiga 10 years ago...
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    ah, the last report i recall was.... it's highly unusual to use private email for high level government officials... until it is not

    it's highly usual for Republican to cry scandal for every conceivable things until, well, humm.. a horse die 9 times. No, that didn't stop it.
     
  19. Amiga

    Amiga 10 years ago...
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    I see, that's your criteria for scandal? Carry on.
     
  20. Amiga

    Amiga 10 years ago...
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    Maybe so. Would be quite sloppy of them to hide it from IRS tax returns, but not hide it from public.
     

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