The Clintons took improper Whitewater tax deductions
The Clintons took improper tax deductions for losses and expenses in the Whitewater land deals. Then, at the instruction of their attorney, in 1996, the Clintons had to amend their tax returns to pay the IRS for the improper and excessive deductions related to Whitewater.
Jeff Gerth reported in the NY Times on 05/25/96:
White House disclosed today that President Clinton and his wife, Hillary, paid the Government $2,910 in back taxes and interest earlier this month as a result of incorrect income tax filings in the 1980's relating to their Whitewater real estate investment.
The payment was made on May 1, after outside experts had reviewed the Clintons' tax returns at the request of the couple's personal lawyer, David E. Kendall.
Mr. Kendall had requested the review in response to a report issued last August by Representative Jim Leach, the Iowa Republican who is chairman of the House Committee on Banking and Financial Services. In that report, Mr. Leach contended that the Clintons owed $13,272 because of what he described as eight tax errors stemming from their Whitewater investment.
Note that the Clintons amended their tax returns only after the Republicans questioned the Whitewater deductions, and David Kendall, attorney for the Clintons, had the tax returns reviewed and advised them to pay the tax. This was strictly a CYA operation by Kendall on behalf of the Clintons.
The Clintons, and the MSM, have no shame. They took deductions for Bill’s used underwear and for improper and excessive Whitewater losses and expenses, but now the Clintons, and their cheerleaders in the MSM, are questioning Trump’s deduction 20 years ago of a legitimate business loss of about $900 million.
We do not need lectures by the Clintons, who deduct used underwear and cheated on the Whitewater deal, about paying taxes.