Clinton and Kaine release tax returns

[mystery-ak]

 By Naomi Jagoda - 08/12/16 12:18 PM EDT

Hillary Clinton and Tim Kaine released new tax returns Friday, as their Democratic presidential ticket steps up its calls for Donald Trump to make his returns public.

Clinton and her husband, former President Bill Clinton, put out their returns for 2015. They previously have made more than 30 years of their returns public. Kaine and his wife, Anne Holton, released returns for 2006 to 2015.

“In stark contrast, Donald Trump is hiding behind fake excuses and backtracking on his previous promises to release his tax returns," Clinton campaign communications director Jennifer Palmieri said.

"He has failed to provide the public with the most basic financial information disclosed by every major candidate in the last 40 years. What is he trying to hide?”

This morning, the Clinton campaign released a web video showing Republicans who have urged Trump to release his tax returns.

The billionaire businessman has said he is not releasing his tax returns until the IRS finishes an audit of him. The IRS has said that nothing prevents Trump from releasing his own information.

The Clintons had a total income in 2015 of about $10.7 million. They paid an effective federal income tax rate of 34.2 percent and donated almost 10 percent of their adjusted gross income to charity, the campaign said.

Kaine and Holton over the past 10 years have had effective federal income tax rates ranging from 13.4 percent to 24 percent. The Clinton campaign said that the couple has donated 7.5 percent of their adjusted gross income to charity over the past decade.

In 2015, Kaine and Holton had a total income of about $313,000.

The Clintons’ income was down from 2014, when they had a total income of about $28 million.

In 2015, the Clintons claimed deductions for mortgage interest, state and local income taxes and charitable contributions.

The campaign said last year that the Clintons paid nearly $44 million in taxes between 2007 and 2014.

- Updated at 12:59 p.m.

http://thehill.com/policy/finance/291268-clinton-and-kaine-release-tax-returns

[mystery-ak]

Hillary and Bill donated over 1mil to charity....96% went to the Clinton Foundation...they donated to themselves...

[Idaho_Cowboy]

Hillary and Bill donated over 1mil to charity....96% went to the Clinton Foundation...they donated to themselves...

And they say crime doesn't pay.

[Sanguine]

Hillary and Bill donated over 1mil to charity....96% went to the Clinton Foundation...they donated to themselves...

They are just so clever....  And, she knows the press won't question it, so why not?

[XenaLee]

Hillary and Bill donated over 1mil to charity....96% went to the Clinton Foundation...they donated to themselves...

Which....makes perfect sense.   Since....Bill and Hillary have always been their favorite charity.

[flowers]

article date 2015


Exclusive: Clinton charities will refile tax returns, audit for other errors

http://www.reuters.com/article/us-usa-election-clinton-taxes-exclusive-idUSKBN0NE0CA20150423

Hillary Clinton's family's charities are refiling at least five annual tax returns after a Reuters review found errors in how they reported donations from governments, and said they may audit other Clinton Foundation returns in case of other errors.

The foundation and its list of donors have been under intense scrutiny in recent weeks. Republican critics say the foundation makes Clinton, who is seeking the Democratic presidential nomination in 2016, vulnerable to undue influence. Her campaign team calls these claims "absurd conspiracy theories."

The charities' errors generally take the form of under-reporting or over-reporting, by millions of dollars, donations from foreign governments, or in other instances omitting to break out government donations entirely when reporting revenue, the charities confirmed to Reuters.

The errors, which have not been previously reported, appear on the form 990s that all non-profit organizations must file annually with the Internal Revenue Service to maintain their tax-exempt status. A charity must show copies of the forms to anyone who wants to see them to understand how the charity raises and spends money.

The unsettled numbers on the tax returns are not evidence of wrongdoing but tend to undermine the 990s role as a form of public accountability, experts in charity law and transparency advocates told Reuters.

"If those numbers keep changing - well, actually, we spent this on this, not that on that - it really defeats the purpose," said Bill Allison, a senior fellow at the Sunlight Foundation, a government transparency advocacy group.