Tornado Alley (PROG)

[BullNBear52]

Obviously taxes are not your strong suit nor is it Kevin's.

Come 4/15 the IRS requires that you write a check when you ask for an extension to avoid any future P&I when you eventually file.

Kevin and you left out the important part but that is no surprise considering your hero worship of someone who called you a loser and a sucker for serving our country. And now that is obviously suspect.

And as Paul Harvey used to say now for the rest of the story,

As he settled into the Oval Office, his tax bills soon returned to form. His potential taxable income in 2016 and 2017 included $24.8 million in profits from sources related to his celebrity status and $56.4 million for the loans he did not repay. The dreaded alternative minimum tax would let his business losses erase only some of his liability.

Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years.

To cancel out the tax bills, Mr. Trump made use of $9.7 million in business investment credits, at least some of which related to his renovation of the Old Post Office hotel, which qualified for a historic-preservation tax break. Although he had more than enough credits to owe no taxes at all, his accountants appear to have carved out an allowance for a small tax liability for both 2016 and 2017.

When they got to line 56, the one for income taxes due, the amount was the same each year: $750.


https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html

Reading is fundamental. You should try it sometime before you post BS with no link attached.