Donald Trump Due A $1 Million Tax Refund

Donald Trump is due a $1 million tax refund on his controversial Chicago skyscraper, but state attorney Kim Foxx’s office is attempting to prevent him from getting it.

The billionaire ex-president is in line to get a windfall after the Illinois Property Tax Appeal Board voted 5-0 to refund the amount levied on the Trump International Hotel and Tower’s commercial units for the 2011 tax year.

About $540,000 of that money will be redirected from Chicago’s public schools to pay Donald Trump.

His lawyers had previously argued that he was paying too much tax on the 98-floor building because he couldn’t obtain tenants to fill the tower’s commercial units, indicating they’d been overvalued.

Previous efforts to claw back tax failed because assessors insisted the vacant retail units added contributory value to the building and should be taxed as if they were occupied.

The Appeals Board has now sided with him, with the money that Donald Trump is owed coming out of a public kitty that pays for the Windy City’s public schools, and other government services.

According to the Chicago Sun-Times, the city’s schools would lose the biggest chunk of cash to Donald Trump, an estimated $540,000.

Cook County State Attorney’s office, led by well-known prosecutor Kim Foxx, has objected to the proposed settlement and is now attempting to hinder it.

Lawyers working for the office filed a suit with the Illinois Appellate Court in the hopes of blocking it.

The controversy is the latest episode in a long-running legal dispute over Donald Trump’s tax bills that began more than 12 years ago and has led to more than $14 million in tax breaks for Trump.

It also involves not only a former president who’s amid a multitude of legal actions but a Chicago alderman whose own legal problems has been making headlines in Chicago for months.

Alderman Edward M Burke, whose former law firm, Klafter & Burke, won the tax breaks for Donald Trump, has been indicted on federal charges that he blocked businesses from getting city permits unless they hired the firm. He’s pleaded not guilty and is awaiting trial.

The dispute over the tax bills on the high rise building has its own long history.

Originally, the state agency rejected Donald Trump’s argument that the vacant stores had no value because he couldn’t get any tenants to lease them.

A hearing officer for the state agency rejected Donald Trump’s argument that the unoccupied stores at the building had no value because he couldn’t leave them, but a staff member later wrote a report that Donald Trump was entitled to the refund.

Pulling the funds from a school budget isn’t the greatest idea, although I guess it is if you want to make Donald Trump look bad it’s the best way to go. Still, he has zero control of where the funds are found.

What they should be doing is taking the money from wasted bureaucratic spending – lunches, flights and raises, rather than taking it from children, but now they’re robbing it from Peter to pay Paul, or should I say, vulnerable school children, and I do hope that Donald Trump donates some of that money to these school children, who need it far more than he does.

But I’m sure there are numerous people out there that have been waiting for their tax refund for months, and they could be saying the same thing: ‘It’s my money, give it back to me!’

And let’s face it Donald Trump managed to lower his taxes over the years by reporting substantial losses on his businesses, and this one isn’t much different, and after the success of The Apprentice TV show he did initially pay significant taxes, $95 million over 18 years, but then he later got most of that back via a $72.9 million federal tax refund, although those funds were under review.

See the pattern forming here?

Published by Angela Lloyd

My vision on life is pretty broad, therefore I like to address specific subjects that intrigue me. Therefore I really appreciate the world of politics, though I have no actual views on who I will vote for, that I will not tell you, so please do not ask! I am like an observation station when it comes to writing, and I simply take the news and make it my own. I have no expectations, I simply love to write, and I know this seems really odd, but I don't get paid for it, I really like what I do and since I am never under any pressure, I constantly find that I write much better, rather than being blanketed under masses of paperwork and articles that I am on a deadline to complete. The chances are, that whilst all other journalists are out there, ripping their hair out, attempting to get their articles completed, I'm simply rambling along at my convenience creating my perfect piece. I guess it must look pretty unpleasant to some of you that I work for nothing, perhaps even brutal. Perhaps I have an obvious disregard for authority, I have no idea, but I would sooner be working for myself, than under somebody else, excuse the pun! Small I maybe, but substantial I will become, eventually. My desk is the most chaotic mess, though surprisingly I know where everything is, and I think that I would be quite unsuited for a desk job. My views on matters vary and I am extremely open-minded to the stuff that I write about, but what I write about is the truth and getting it out there, because the people must be acquainted. Though I am quite entertained by what goes on in the world. My spotlight is mostly to do with politics, though I do write other material as well, but it's essentially politics that I am involved in, and I tend to concentrate my attention on that, however, information is essential. If you have information the possibilities are endless because you are only limited by your own imagination...

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