Lately, the White House and its allies have been drawing attention to the political activities of libertarian billionaires Charles and David Koch. In an August 9 speech, President Obama singled out Americans for Prosperity, ...
Holden claims that the revelation of tax information could have been improper, depending on how the information was obtained by the White House:
"I’m not accusing any one of any illegal conduct. But it’s my understanding that under federal law, tax information, is confidential and it’s not to be disclosed or obtained by individuals except under limited circumstances. ... I don’t know what [the senior administration official] was referring to. I'm not sure what he's saying. I'm not sure what information he has. But if he got this information--confidential tax information--under the internal revenue code ... if he obtained it in a way that was inappropriate, that would be unlawful. But I don't know that that's the case."
Holden says that to his knowledge the tax status of Koch Industries has not been previously reported in the press.
So, questions remain: Why won't White House officials say if the quotation about Koch Industries is accurate--or even if a transcript of the briefing exists?
And, if the quotation is accurate, why won't they say how the White House obtained tax information on Koch Industries?
Koch Industries Lawyer to White House: How Did You Get Our Tax Information? | The Weekly Standard
Great ... a certain poster is probably gonna slide right off her chair when she sees this thread ... :roll:Eh Obi... your team has'alotta 'splain'in to do.
Inquiring minds want to know... shouldn't take 72-hours... sorta reminds me of the Sestak deal... took days for them to craft an non-answer. Looking forward to Isa looking into these allegations of wrongdoing.
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Koch and the lawyers should give a little more time and then file a lawsuit.
During the process we'll find out what was being referenced and how information was handled by the government.
Surprised that the fed would delve into private tax records of a corporation unlawfully? He'll no. Especially this admin who sees private industry and business as a villain.
Koch and the lawyers should give a little more time and then file a lawsuit. Simple. During the process we'll find out what was being referenced and how information was handled by the government. Surprised that the fed would delve into private tax records of a corporation unlawfully? He'll no. Especially this admin who sees private industry and business as a villain.
Americans for Prosperity is a tax exempted organization filing form 990. Which by law is publicly accessible.
Furthermore, Koch Industries has one of the largest private businesses in America for at least a decade. If Koch is structured as a S Corp, then it doesn't pay corporate level taxes (aside from a few S corp special taxes).
Telling people what legal structure Koch Industries is and then summarizing the tax implications of that structure is not illegal any more then I saying Microsoft is an C corp and pays corporate taxes. Anyone can go down to the registration place where Koch Industries is registered and look up their legal structure. While is it possible that KI pays corporate level taxes via election, it doesn't make any sense for them to do so.
This thread is nothing more then an epic gross failure to understand the concept of legal information disclosure and tax code by people who really should not discuss taxes.
Somebody didn't read the thread.
If Koch is an S corp, then they should fall under the protections of The Privacy Act, since the share holders report income and loss on their individual tax returns.
And nothing the adminstration said violates that. You, like the rest, are ignorant of the topic, the concept of legal disclosure and the tax code. I posted their 990. Under the crackpot logic given by others here, I just commited a crime. Despite the 990 being legally required to be avaliable to the public. Furthermore, S corp legal code, which is legally avaliable to all people states that S corps do not pay normal corporate level taxes. So the Adminstration leveling that Koch doesn't pay corporate tax is entirely legal and highly likely to be true. The number of S corps that make the election to pay corporate taxes is pretty small for obvious reasons to those who actually understand the tax code and don't get their "information" from crackpot blogs.
It is amazing what ignorance + stupidity + hatred will do to people. This thread is an excellent example of when logic, reason and intelligence are not practiced.
It's really best for the rest of you not to talk about legal or tax issues entirely.
Those who follow politics know that reports of Obama having an enemies list have come up more than once...
It is amazing what ignorance + stupidity + hatred will do to people. This thread is an excellent example of when logic, reason and intelligence are not practiced.
It's really best for the rest of you not to talk about legal or tax issues entirely.
You oughta know, first hand.
Moderator's Warning: |
According to the logic given in post #1,
Using this site and this site is a crime.
Furthermore, Universities in the past when they made their accounting students by printed copies of the IRS Code were committing crimes too. And every time a student looked something up, that was a crime too. And the IRS was an accomplice to those crimes by giving the code to book publishers to print. And every state office of registration is committing a crime by allowing people to legally look up the registration of companies in their books. And everyone who looks up publicly available 990s is committing a crime. And Congress who legislated that 990s be made public are accomplices to such crimes.
I'm going to make fun of every one of you for this total epic fail.
Are you for real? Where did that even come from?
Perhaps, you unlike Ockham, should read the thread before posting. Koch's dumb ass lawyer asserted that the Administration broke privacy laws in what they stated. Except that the administration merely summarized section S of the code after looking up section S of the code. By saying that the administration broke privacy laws, they are arguing that by looking up section S of the tax code, that was a violation of privacy laws. Thus, anyone who looks up various tax code sections has committed a crime. I'm merely taking the truly asinine argument given by Kock's stupid lawyer and supported by various ignorant partisans here to show how completely absurd they are.
Do I think that looking up various tax code sections is a crime? Not a chance. But I also think Koch's lawyer is completely full of ****. But that doesn't stop me from making fun of his total idiocy.
I can see why most of the partisans abandoned this thread. It's total epic fail on their part.
If the administration revealed protected details of how Koch filed through it's S corp
then in fact, the administration violated privacy laws
since s corps are filed on individual taxes
privacy laws are protected under the privacy act.
You're wrong
unless you want to display your tax law prowess explaining to us how the privacy act is applied to s crops vs. c corps.
Care to take that challenge?
If Koch is an S corp, then they should fall under the protections of The Privacy Act, since the share holders report income and loss on their individual tax returns.
Where did you come up with that? In Texas, if you have an s-corp, it is a felony to move money between corporate and personal accounts, other than paying yourself a paycheck.
Where did you come up with that? In Texas, if you have an s-corp, it is a felony to move money between corporate and personal accounts, other than paying yourself a paycheck.
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