United states tax collector

"Don't play tricks on me!"

David got angry for no reason when he heard this.

Let's not talk about the three major groups using foundations to provide campaign funds to members of Congress.

In the United States, the estate tax is very high. As long as the amount is greater than 2.5 million US dollars, a 50% tax must be paid.

This is why many wealthy people always like to "donate naked". People who don't know this at first glance think that these wealthy people are very kind and have a strong sense of social responsibility.

But in fact, the so-called naked donations of these wealthy people are basically for tax evasion.

Because according to federal tax laws, as long as the donations are used for charity, they can enjoy a 10% tax exemption.

Therefore, in order to evade taxes, these wealthy people will set up a public welfare trust fund in their own name during their lifetime.

Then donate all the wealth to this foundation in installments, and claim to use it for charity, and then enjoy a 10% personal tax exemption.

According to the legal rules for foundations, as long as you donate 1 billion US dollars, you can enjoy a tax refund of 100 million.

Why donate in installments?

The key point is personal tax exemption.

If you donate too much at one time, the 10% personal tax exemption will not be used up, which is equivalent to a waste, so you have to donate in installments to maximize the benefits!

But this is not the most excessive. The most excessive thing is that after the establishment of this fund, the US government will not come forward and has no authority to take over. It is controlled by the rich himself or his children.

Outsiders have no right to interfere with the flow of all its money, not even the IRS.

As for its internal rules and regulations, they are confidential. Not only will they not be disclosed to the outside world, but even the IRS has no right to review them.

They only need to donate 5% of their total assets to charity every year in accordance with Section 3627 of the US Tax Law, and they can legally own these wealth.

Of course, these funds are nominally no longer personal wealth, but social wealth.

Therefore, the fund's future investment income will no longer need to pay personal income tax, and will be taxed directly at 1%.

Here comes the key point, not 50% or 10%, but 1%!

As long as the income from the fund's investment is paid at a tax rate of 1%.

Those other tax avoidance methods, as well as the Cayman Islands and the Virgin Islands tax havens, are much weaker than the foundation.

When David first thought of the prototype of the off-site tax avoidance bill, he actually had the idea of ​​introducing a bill targeting the foundation's taxation.

But after careful consideration, he decided to choose the former.

But then again, the foundation's tax avoidance method is indeed like a dog biting a hedgehog for the IRS, but in addition to introducing a bill to target it, it does not mean that David can't really hold them.

At least now David has found some ways to deal with them from this manager through the system's review function.

"This... Inspector General David, what do you mean by this?"

Being so close to the face, Mo Ang also got angry.

Who can gain a foothold in Wall Street without a capital background?

What's more, he is now helping the three major groups.

So although he is a little afraid of David in his heart, he still has some confidence.

Moreover, the rules of the foundation have been played to this day, and I have never heard of any foundation being investigated for tax issues.

Even if David has solved the tax avoidance bill, he can't be so crazy as to investigate the foundation before the bill against the foundation is introduced, right?

"Nothing else, I just suspect that your foundation is involved in some tax issues!"

David tapped the table with his fingertips in an orderly manner, expressionless.

"Impossible!"

"Most of the funds in the foundation I control are used for charity, how could they be involved in tax evasion, and the federal law of the United States stipulates that your IRS has no right to review our affairs, I don't need to answer any of your questions!"

Mo Ang refuted decisively, and his words were even full of non-negotiable tone.

But David was not in a hurry, leaning back slightly, and said with a relaxed look: "That's right, according to the power granted to you by the tax law, you don't need to answer any of our questions or reviews, but you seem to have made a mistake. I didn't ask you to answer any questions, nor did I mean to review you!"

Mo Ang was confused when he heard this.

Since you don't need me to answer any questions and don't want to examine me, then why did you call me here?

And why did you investigate my foundation?

Before Mo Ang could continue thinking, David spoke: "Listen to me, according to federal tax law, neither the government nor the IRS has the right to investigate charitable foundations. There is a premise!"

"The premise is that you must... I don't say you must, but you are supposed to use the money for charity, but did you really use it for charity?"

There is no perfect way to evade taxes in the world.

The same is true for foundations. The original intention of the foundation was not to evade taxes, but to do charity, so this is the biggest loophole!

As long as it is known that the funds are not flowing to charity, but to the personal pockets of some people, or become the funds for the election of congressmen, the IRS has the right to intervene!

Of course, the IRS has paid attention to this before.

But due to the fact that the foundation's money data does not need to be disclosed to anyone or any organization according to the law, they have no way to investigate it and can only give up.

But David is different now. He has the function of review and does not need to conduct any investigation on the foundation.

Just use the system to review some key people to obtain detailed information and evidence!

Mo Ang's face changed slightly, but then he continued to refute: "Inspector General David, according to tax laws, the flow of funds of the foundation cannot be interfered with by your IRS..."

"Yes, you are right. We cannot interfere with the funds injected by the foundation, but we have the right to interfere with the income generated by the injected funds for investment!"

As soon as David finished speaking, Mo Ang immediately retorted: "Inspector General David, you are wrong. According to Section 3627 of the tax law, it means all the funds in the foundation..."

"Bang!"

Before Mo Ang finished speaking, David took out a tax law from the table and smashed it on the table, which scared him.

"Mr. Mo Ang, do you think you know the tax regulations better than me?"

"This..."

Mo Ang was speechless.

Then, David turned the charter to page 78, turned it around and pushed it in front of Mo Ang, saying: "Look carefully, the tax law here specifies the "amount injected by the foundation", so it does not include the benefits generated by the foundation, do you understand?"

Mo Ang looked carefully, and then his face became a little silent.

Because the foundation has never been investigated, he has always believed that the foundation has no right to investigate who the funds flow to.

But now if you really want to look at the words, David does have a reason.

But so what!

Even if the IRS has the right to investigate the benefits generated, he also has the right not to cooperate with the investigation.

As long as he does not cooperate with the investigation and all the data are not made public, he does not believe that David can do anything to his foundation!

Thinking of this, Mo Ang felt much more at ease, crossed his legs and said: "Well, what you said makes sense, Inspector General David, but so what? What can it prove?"

"As far as I know, your foundation is first of all a 'charitable trust institution'. In this charitable institution, your clients have deposited a total of more than 50 billion US dollars. These funds, relying on investments in industries in the United States and around the world, have a monthly net profit of more than 1 billion US dollars!"

"But you can't use this money, so you also set up a family fund for your clients. Every income generated will be cashed into the family fund through the charitable fund, which will perfectly become a personal asset. Am I right?"

Mo Ang, who was originally crossing his legs and looked calm, changed his expression instantly when he heard this.

Because the funds and profit data in his foundation have never been made public, how did David know it?

In order to figure this out, Mo Ang asked anxiously, "Where did you get this data?"

"You don't need to worry about this, you just need to answer whether it is true or not!"

"No, this is not real data!"

Although the data David said was true, it was not enough to shake his bosses' foundation. At this stage, Mo Ang just needed to deny it.

"Okay."

David didn't seem surprised and continued, "Red, Wordsworth, Meg... These are all former government officials. After retiring, they all joined your foundation as consultants."

The foundation offered them an annual salary of $6.3 million for Red, $4.6 million for Wordsworth, and $4.6 million for Merlot..."

"And they have to do something with this money. Every mid-term election, 12 billion will be taken out of the foundation to fund the elections of congressmen and support in politics, right, Mr. Mo Ang! "

If Mo Ang was just a little flustered by what he said just now, then David's next words made Mo Ang feel like he was falling into the abyss.

He couldn't understand why David knew the top-secret data such as the foundation's funds and income, but how could he also know the consultants hired by the foundation and the funds flowing to the supporting members of parliament?

If these data flowed into the hands of the media, not to mention that the bosses behind him would be ruined, but they would definitely be caught in the whirlpool of public opinion.

And as the head of the foundation, how could he have a good ending?

"Of course, your clients have huge funds, and it is not enough to rely on the hedging of public welfare trust funds and family trust funds every month, so you also planned a model. For example, you set up a company A, and after a period of operation, its valuation is said to be 2 billion. Of course, this is just virtual, and no one will buy it. "

"And a multinational company B located in a foreign country bought all the business of the company for 2 billion US dollars. After a period of operation, company B sold the company to company C for 2.3 billion US dollars, and company C operated company A to go public. "

"Finally, your foundation will buy all the shares of Company A. After a few years of operation, Company A will face bankruptcy, and then you will arbitrage billions of dollars with a shell company."

"Relying on this model, you can not only inject billions more into your fund every month, but also avoid all taxes, right?"

"So now do you think we have the right to intervene?"

David didn't care what Mo Ang was thinking, and told him the top-secret information he had reviewed.

"You...you...I don't admit the accusations you made!"

At this point, Mo Ang had nothing else to say, and could only refute with sweat on his forehead.

But David didn't indulge him anymore, and looked at him sharply and said: "Do you need me to call all your hedge managers to interrogate them one by one? Do you think they can be as patient as you?"

Mo Ang gritted his teeth and said: "What do you want to do? You know who my clients are!"

"So what? Do you think I'm still afraid of this now?"

"You..."

At this point, even if Mo Ang was stupid, he knew that David was not targeting the foundation. It was clear that he wanted to take advantage of the momentum of the passage of the tax avoidance bill to continue to strike the three major groups.

"Mr. Mo Ang, if you cooperate with me honestly, I promise that nothing will happen to you. Otherwise, you will definitely be the victim pushed out by them in the end!"

If this matter is exposed, the owners behind the foundation will be in trouble, not to mention whether they will be unlucky, but as the head of the foundation, Mo Ang will be scolded by the public for illegally injecting these "charity funds" into his private pockets and into the mid-term elections.

It is difficult to escape legal sanctions!

"What do you want?"

Mo Ang is not a fool. Of course, he also understands that although everyone knows that the foundation was originally established by the rich to avoid taxes.

But knowing is knowing, if you really expose it in public, that is another matter.

"It's simple. I need more detailed information about the connection between your foundation and your clients, as well as the flow of each fund, to ensure that your clients are involved in this matter!"

"No, they will kill me!"

"I said I will keep you safe, but if you insist on fighting for them, you will be the first to suffer. Think about your son, he is only 2 years old. Do you want him to visit you in prison for the rest of his life?"

Hearing David's words, Mo Ang's face was filled with resentment, and he said angrily: "Inspector General David, I admit that you are the most popular in America now, but my clients are not vegetarians. Why do you think you can keep me safe?" (End of this chapter)