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Impact of IRS tax issue on Trump's businesses by 2025
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Resolution / Starting Odds
Significant negative impact • 33%
Minor or no impact • 33%
Positive impact (e.g., through restructuring) • 34%
Business filings, public statements from Trump Organization
Story
Trump Faces $100M IRS Bill for Double-Dipping Tax Breaks on Chicago Tower
May 11, 2024, 02:37 PM
The IRS has concluded its investigation into Donald Trump's tax filings and found that the former president may owe over $100 million due to improper tax breaks claimed on his Chicago skyscraper. The issue centers around allegations that Trump claimed massive write-offs twice for the same losses, initially in 2008 with losses up to $651M and again in 2010 after transferring ownership to a controlled partnership, declaring an additional $168M in losses over the next decade. This double-dipping could lead to a significant tax bill as uncovered by joint investigations from ProPublica and The New York Times.
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Restructuring of some business entities • 33%
Sale of major assets • 34%
Significant negative impact • 25%
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Moderate impact • 25%
Increase in public engagements • 33%
Decrease in public engagements • 33%
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Moderate impact • 33%
No impact • 34%
Significant positive impact • 33%
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Settlement reached • 33%
Full payment made • 33%
Case dismissed • 34%
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Increase in Support • 33%
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No Change in Support • 34%
Significant loss of support • 25%
Moderate loss of support • 25%
No impact on support • 25%
Increase in support • 25%
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Moderately affects • 33%
No significant impact • 33%
Significantly Positive • 25%
Neutral • 25%
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No Impact • 25%