Citing unnamed sources, The Times reported that one criminal and one civil investigation in NY looking at allegations of fraud by President Donald Trump and his enterprises now include millions of dollars in tax write-offs on consulting fees that were paid to Ivanka.
Because of the way the filings were made, the Times reported that it appeared she was "treated as a consultant while also working for the company".
"This is harassment pure and simple", Trump tweeted on Thursday, linking to the Times report. There is no indication that his daughter is a focus of either inquiry, which the Trump Organization has derided as politically motivated. These politicians are simply ruthless, ' she said.
Ivanka Trump, the elder daughter of President Donald Trump and White House senior advisor, has described two fraud investigations into the Trump Organisation's finances as "harassment".More news: PUBG making India comeback today? Here is all you want to know
Both investigations are at least partly related to allegations, made in news reports and by President Trump's former lawyer, Michael Cohen, that Trump had a history of inflating the value of some assets to impress banks and business partners, but lowering that value when seeking tax benefits.
It doesn't appear that Ivanka accounted for the payment improperly, the offices stated.
It is worth mentioning that in 2017, the statement indicated the deduction for consulting costs of $ 747,622, which precisely coincided with income in other documents declared by Ivanka Trump through a company in which he is a co-owner.
In August the attorney general's office asked a judge to make the president's son Eric Trump, who is an executive vice president at the Trump Organization and runs its day-to-day operations, to testify in the inquiry and he did so in October. These expenses of the Trump Organization responded to projects in Hawaii and Vancouver (Canada) in which Ivanka Trump already works as a member of the family business. The Internal Revenue Service has, in the past, pursued civil penalties over large consulting fee write-offs it found were made to dodge tax liability.More news: Police seek suspect after eight injured in Wisconsin mall shooting
The recent claims are the most severe allegations placed on Trump as he heads out of the White House.
The IRS has sometimes rejected attempts to write off consulting fees if they were meant to avoid taxes and did not reflect arm's-length business relationships.
Alan Garten, general counsel of the Trump Organization, told the Times, "Everything was done in strict compliance with applicable law and under the advice of counsel and tax experts". It is not known if the IRS has ever questioned the Trump Organization about the practice.
Vance has been involved in a long court battle seeking access to Trump's tax filings as part of the investigation. "I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits".More news: Drew Brees out at least two weeks
The president's father had done the latter through schemes that the Times reported in 2018.