What do you think would happen if you made mistakes on your tax returns? For many of us, there have been times that we left this out or over reported this money. In such times, a simple amendment will suffice. No big deal, right? Well, this week the Clinton Charities discovered that there were a few errors in their reporting to the IRS.
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.
Now, notice that these errors were in a particular area. The errors had nothing to do with every group that donated, just the donations from foreign countries. Now if you remember, this is the second time that we have reported on Clinton and her family charity. It is also the second time that the issue with the charity concerned funds received from foreign countries. And both articles deal with reporting of donations.
Reuters explains it this way
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.
Now, I know that when you are working to stop natural occurrences like climate change, millions of dollars is mere pennies, yet does it not bother anyone else that our former secretary of state has been receiving large amounts of foreign funds but has not been telling the IRS about it? Is it not a little scary that the woman that is seeking to be the next most powerful person in the world has been getting money from foreign governments? But, there were mistakes both in under-reporting as well as over-reporting, some will say.
Okay, I am no genius, but I did not just fall off the turnip truck either. Let me see if I can figure out what this over and under could mean. Unlike me and you, Mrs. Clinton has not been seeking to hide the money that she has brought in through the charity. This has absolutely nothing to do with taxes.
Remember the Clinton Foundation is a charity and does not fall into a tax bracket. It matters little if she has received a million or one hundred trillion. As long as she can show that a preset percentage of the received funds has gone to the work it purported to be raising the money for, the IRS does not care.
What is important here is, who gave what money. Here is where the over and under reporting comes in. If she did not want to show that a certain country was giving more in a certain year that years previous or prior, then she simply says that that money came from another country.
So, if Russia had upped their giving in, say 2012, but in that year Hillary had done a lot of work negotiating there that year. So that it does not look like Russia was paying her off for not playing “hardball” with them, she could simply have the charity report that the extra Russian monies came from Turkey instead.
Reuters further reported
“We are prioritizing an external review to ensure the accuracy of the 990s from 2010, 2011 and 2012 and expect to refile when the review is completed,” Craig Minassian, a foundation spokesman, said in an email.
We will see if there can be shown to be any correlation such as I have laid out as the refiling is done. The problem is that it is very unlikely that these new filings will not be done before the elections are completed.