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Media Quote Suzanne McDowell on Trump Foundation ‘Self-Dealing’ Violations

November 23, 2016

Politico and The Wall Street Journal quoted Suzanne McDowell in articles discussing why President-elect Donald Trump probably won’t face legal liability over the latest controversy surrounding the Trump Foundation.  When self-dealing occurs, the “disqualified person” — most likely Trump or a Trump-owned business — has to pay an excise tax totaling 10 percent of the value of what he or it received, in addition to reimbursing the charity for that value, plus interest.

“The self-dealing rules are highly technical, and it’s not unusual for foundations to unknowingly engage in self-dealing,” Ms. McDowell tells The Wall Street Journal.  “Many small family foundations do not fully understand the rules.”

Ms. McDowell tells Politico, “The IRS does not have any authority to abate this tax or to waive this tax.”

The full articles can be read at Politico and The Wall Street Journal.