September 02, 2016

Trump Pays IRS Penalty for Foundation’s Political Donation

Donald Trump paid a $2,500 penalty to the Internal Revenue Service following reports that his foundation violated tax laws by making a contribution to a Florida elected official’s campaign organization, writes The Washington Post. The $25,000 contribution to a group affiliated with Florida Attorney General Pam Bondi in 2013 prompted a complaint to the IRS earlier this year by left-leaning watchdog group Citizens for Responsibility and Ethics in Washington.

As a registered charity, the Donald J. Trump Foundation is barred from making political donations. The foundation did not report the contribution to the IRS in its tax filing for 2013, instead listing a $25,000 gift to a Kansas nonprofit with a name similar to that of Ms. Bondi’s group.

Jeffrey McConney, the controller for Mr. Trump’s company, the Trump Organization, said the Republican presidential nominee filed corrected paperwork with the IRS after learning of the error and paid a 10 percent excise tax. Mr. McConney said the original misfiling was an “honest mistake” and that Mr. Trump repaid the $25,000 to his foundation.