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Outcome of IRS investigation into Trump’s tax breaks by end of 2024
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Resolution / Starting Odds
Settlement reached • 33%
Full penalties imposed • 33%
Case dismissed • 33%
IRS final decision announcement or credible news sources
Story
Trump Faces $100M IRS Bill for 'Double-Dipping' Tax Breaks in 2008, 2010
May 11, 2024, 03:55 PM
Former President Donald Trump may face a tax bill exceeding $100 million following an IRS audit that uncovered improper tax breaks linked to his Chicago skyscraper. The investigation, jointly reported by The New York Times and ProPublica, revealed that Trump allegedly claimed the same financial losses twice, specifically in 2008 and 2010, for his troubled tower, a practice commonly referred to as 'double-dipping'. This dubious accounting maneuver, which involved claiming massive write-offs on multiple occasions, has been deemed questionable by tax experts and unlikely to withstand IRS scrutiny. Walter Schwidetzky, a law professor, commented on the tactic, suggesting Trump 'ripped off the tax system.'
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Settlement reached • 33%
Full payment made • 33%
Case dismissed • 34%
Settled out of court • 33%
Paid in full • 33%
Dismissed • 34%
No additional taxes due • 33%
Tax payment under $50 million • 33%
Tax payment over $100 million • 34%
Convicted • 33%
Acquitted • 33%
Case Dismissed • 34%
Dismissed • 33%
Settlement • 33%
Formal charges filed • 34%
Sentencing Reduced • 33%
Sentencing Upheld • 33%
Case Dismissed • 34%
Trump wins • 33%
Mary Trump wins • 33%
Settlement • 34%
Proceeds • 33%
Dismissed • 33%
Settled • 33%
