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From: "Adam H. Kerman" <ahk@chinet.com>
Newsgroups: rec.arts.tv
Subject: Re: Dispatches from Clown World: Actual NY Times Headline
Date: Tue, 26 Mar 2024 18:00:31 -0000 (UTC)
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BTR1701  <atropos@mac.com> wrote:
>In article <6pv50jlju65cqqudaqels4bmif82852roh@4ax.com>,
> shawn <nanoflower@notforg.m.a.i.l.com> wrote:
>
>> On Tue, 26 Mar 2024 16:15:44 -0000 (UTC), "Adam H. Kerman"
>> <ahk@chinet.com> wrote:
>> 
>> >suzeeq <suzee@imbris.com> wrote:
>> >>On 3/26/2024 4:22 AM, NoBody wrote:
>> >>>On Tue, 26 Mar 2024 00:43:03 +0000, BTR1701 <atropos@mac.com> wrote:
>> >
>> >>>>Wait a minute. Trump's civil fraud verdict was based on the notion he
>> >>>>systematically gave an incorrect valuation to his properties in order to
>> >>>>deceive lenders (even though all lenders were repaid and none of them 
>> >>>>ever
>> >>>>made complaints against him and all said they'd do business with him 
>> >>>>again).
>> >
>> >>>>Now, the New York Times admits that reaching a proper valuation for 
>> >>>>Trump's
>> >>>>buildings is a "guessing game".
>> >
>> >>>>https://ibb.co/tJkZL5d
>> >
>> >>>>Untangling Trump's Real Estate
>> >>>>Donald Trump owes $454 million by Monday or risks losing some
>> >>>>properties. But experts say valuing the buildings would be a guessing
>> >>>>game.
>> >
>> >>>Well a liberal judge who decided upon guilt before the trial began
>> >>>(and stated so at the start) guessed at the value of everything and
>> >>>declared that the offense was so terrible that it required a
>> >>>ridiculous fine that you have to post in full if you want to appeal
>> >>>his stupidity.
>> >
>> >>>About sums the whole thing up.
>> >
>> >>It's normal for a bond for the whole fine, plus interest, to be posted 
>> >>for an appeal. He was already found guilty of fraud last year, the 
>> >>latest trial was to determine the amount of the fine. They figured it 
>> >>out by determining the amount of taxes that would have been owed, plus 
>> >>the amount of interest on loans if the real amount of the property had 
>> >>been stated in the first place.
>> >
>> >Do you have the URL of that news article that you just read?
>> >
>> >I didn't know the fraud case was also about underpayment of state taxes,
>> >and I'm not sure how Trump's mis-appraisal resulted in a larger
>> >underpayment of taxes. If he overstated the value, then his assessment
>> >was too high and he overpaid property taxes.
>> 
>> He overstated the value to the banks and understated (or stated
>> correctly) the value to the IRS.
>
>The IRS is a federal agency. How does the state of New York have 
>jurisdiction to prosecute a federal tax case?

State income taxes in many but not all states require making
calculations for the federal tax return first, then finishing the state
return. Reporting on the federal return can be a state issue for that
reason, plus IRS shares data for tax collection purposes with state
revenuers.