Tuesday, September 28, 2021

Chicago Officials Are Trying to Withhold a $1 Million Tax Refund on the Trump Building

Chicago officials are trying to block former President Donald Trump from receiving a $1 million tax refund that the Illinois Property Tax Appeals Board ruled on his Chicago skyscraper’s 2011 tax bill.

Cook County State Attorney Kimberly Foxx’s office filed a lawsuit with the Illinois Court of Appeals on July 9, disputing the refund, noting that the money was owed to the City of Chicago, Chicago Public Schools and several others out of property taxes. will come. agencies.

The lawsuit comes after the board ruled in June in a 5-0 vote that the former president owed a total tax refund of $1.03 million because the Trump International Hotel & Tower was overvalued.

The tax agency ruled that “the Cook County Board of Review underestimated the value of the building’s hotel rooms and retail space,” Chicago Sun-Times reported.

The Epoch Times has reached out to the Trump Organization for comment.

The dispute over tax bills on tall buildings is the latest chapter in a long-running legal battle over Trump’s tax bills, which began more than 12 years ago and caused more than $14 million in tax breaks for the former president Is.

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Basically, the state agency rejected Trump’s argument that the vacant stores had no value because he couldn’t find any tenants to lease them. A state agency hearing official rejected Trump’s argument that the vacant stores in the building had no value because he could not lease them. But a staff member later reported that Trump was entitled to a refund.

The agency delayed acting on the matter until Trump was out of office and in June voted to lower the valuation on the building’s commercial property.

It comes as the Justice Department said tax officials should submit Trump’s tax returns to a congressional panel after an attorney in the department’s office of legal counsel reversed a July 31, 2019 ruling that said That they did not need to give Representative Richard Neill (D-Mass.), chairman of the House Ways and Means Committee, because Neil was “disingenuous” about the true purpose of seeking the return.

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After Trump was elected in 2016, many Democrats attempted to obtain his tax returns. The former president has refused to release them to the public.

The Associated Press contributed to this report.

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News From – The Epoch Times

Chicago Officials Are Trying to Withhold a $1 Million Tax Refund on the Trump Building
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