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Market
Impact of IRS audit on Trump's businesses by 2024
4
Resolution / Starting Odds
No significant impact • 33%
Restructuring of some business entities • 33%
Sale of major assets • 34%
Business filings, public statements from Trump Organization, credible business news sources
Story
IRS Audit May Cost Trump Over $100M for 'Double-Dipping' Tax Deductions
May 11, 2024, 03:55 PM
Former President Donald Trump could face a tax bill exceeding $100 million following an IRS audit that revealed he may have claimed the same tax losses twice for his Chicago skyscraper. The investigation, jointly conducted by The New York Times and ProPublica, uncovered that Trump employed questionable accounting tactics, potentially exploiting tax breaks improperly by 'double-dipping' deductions related to his Chicago tower. This financial maneuver involved claiming massive write-offs for the same losses in both 2008 and 2010.
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Significant negative impact • 33%
Minor or no impact • 33%
Positive impact (e.g., through restructuring) • 34%
Negatively affected • 50%
No significant impact • 50%
Increase in compliance departments • 25%
Restructuring of corporate assets • 25%
Legal challenges against the IRS • 25%
No significant change • 25%
Increase in public engagements • 33%
Decrease in public engagements • 33%
No significant change • 34%
Settlement reached • 33%
Full payment made • 33%
Case dismissed • 34%
Significant negative impact • 25%
No significant impact • 25%
Significant positive impact • 25%
Moderate impact • 25%
Increase in compliance staff and measures • 25%
Public opposition or lobbying against the audits • 25%
Legal action taken against the IRS • 25%
No significant change • 25%
Significantly affects • 33%
Moderately affects • 33%
No significant impact • 33%