"Stop doing this with me!"
Hearing this, David got angry for no reason.
Let’s not talk about the three major groups using foundations to provide campaign funds to members of Congress.
In the United States, inheritance tax is very high. As long as the amount is greater than 2.5 million US dollars, you have to pay 50% tax.
This is why many rich people always like to make "naked donations". People who don't know this may think that these rich people are very benevolent and have a strong sense of social responsibility.
But in fact, the so-called naked donations by these rich people are basically to evade taxes.
Because according to federal tax laws, as long as the donation is used for charity, you can enjoy a 10% tax deduction.
Therefore, in order to evade taxes, these wealthy people will set up a charity trust fund in their own names during their lifetime.
Then he donated all his wealth to the foundation in installments, claiming to the outside world that it would be used for charity, and then enjoyed a 10% personal tax exemption.
According to legal rules for foundations, as long as you donate US$1 billion, you can enjoy a tax refund of US$100 million.
Why donate in installments?
The focus is on personal tax exemptions.
If you donate too much at one time and the 10% personal tax deduction is not used up, it will be wasted, so you should donate in installments to maximize your benefits!
But this is not the most excessive thing. The most excessive thing is that when this fund is established, the American government will not come forward and has no authority to take over it. It will be controlled by the rich man himself or his children.
All its money flows to outsiders and no one has the right to interfere, not even the IRS.
As for its internal rules and regulations, they are even more confidential. Not only will they not be disclosed to the outside world, not even the Internal Revenue Service has the authority to review them.
They only need to donate 5% of their total assets to charity every year in accordance with Section 3627 of the American Tax Code, and they can own this wealth reasonably and legally.
Of course, these funds are no longer personal wealth in name, but social wealth.
So the future investment income of the fund will no longer need to pay personal income tax, and will be taxed directly at 1%.
Here’s the point, it’s not 50%, nor 10%, but 1%!
As long as the income received from the investment of the fund is taxed at 1 percentage point.
Those other tax avoidance methods, as well as the Cayman Islands and Virgin Islands tax havens, are simply too weak compared to foundations.
When David first thought about launching the prototype of a remote tax avoidance bill, he actually also introduced such a bill for foundation taxation.
But after careful consideration, I decided to choose the former.
But then again, the foundation's tax avoidance method is indeed like a dog biting a hedgehog to the IRS, but apart from introducing a bill to target it, it does not mean that David will really take advantage of it. I can't control them anymore.
At least now David has found some ways to deal with them from this manager through the systematic review function.
"This... Inspector General David, what do you mean by this?"
Being so offended, Mo Ang also became a little angry.
Who can gain a foothold on Wall Street without any capital background?
What's more, he is now helping three major groups.
So although I was a little afraid of David, I still had some confidence.
Furthermore, with the rules of foundations up to now, I have never heard of any foundation being investigated due to tax issues.
Even if David has solved the off-site tax avoidance bill, he can't be crazy enough to find the foundation before a bill is introduced against the foundation, right?
"Nothing else, I now suspect that your foundation is involved in some tax issues!"
David tapped his fingertips on the table in an orderly manner, his face expressionless. said.
"Impossible!"
"Most of the funds in the foundation I control are used for charity. How could it be involved in tax evasion? Moreover, American federal law stipulates that your IRS has no right to Our matter will be reviewed, and I don’t need to answer any questions from you!”
Mo Ang retorted decisively, and his words were even full of non-negotiable tone.
But David was not in a hurry. He leaned back slightly and said relaxedly: "That's true. According to the power given to you by the tax law, you don't need to answer any questions or review us, but you seem to I made a mistake, I didn’t ask you to answer the question, and I didn’t mean to censor you!”
Mo Ang was stunned when he heard this.
Since you don’t need me to answer any questions and you won’t examine me, then why did you bring me here?
What are you doing to investigate my foundation again?
Before Mo Ang could continue thinking, David spoke: "Listen to me, according to federal tax law, neither the government nor the Internal Revenue Service has the right to investigate charitable foundations. Then There is a premise!”
“The premise is that you must...not to mention it must be used for charity, but are you really using it for charity?”
There is no perfect way to evade tax in this world.
The same goes for foundations. The original intention of establishing a foundation is not to evade taxes, but to do charity, so this is the biggest loophole!
As long as it is understood that the funds are not flowing to charity, but to the personal pockets of certain people, or become campaign funds for congressmen, then the IRS has the right to intervene!
Of course, the IRS has not paid this attention before.
However, due to the fact that the foundation's money data does not need to be disclosed to anyone or any institution according to law, they have no way of investigating it and can only give up.
But David is different now. He possesses the inspection function and does not need to conduct any investigation into the foundation at all.
You only need to use the system to examine some key people, and you can obtain detailed information evidence!
Mo Ang's expression changed slightly, but then he continued to retort: "Inspector General David, according to the tax law, your IRS cannot interfere with the flow of the foundation's money..."
"Yes, you are right. We cannot interfere with the funds injected by the foundation. However, if the funds are used for investment income, we have the right to interfere!"
< br>As soon as David finished speaking, Mo Ang immediately retorted: "Inspector General David, what you said is wrong. According to Section 3627 of the tax law, it means all the funds in the foundation..." "Pa!"< br>
Before Mo Ang finished speaking, he saw David pull out a tax law charter from the table and smash it on the table, which startled him.
"Mr. Mo Aung, do you think you know the tax laws and regulations better than me?"
"This..."
Mo Aung was speechless.
Immediately afterwards, David opened this charter to page 78, then turned around and pushed it in front of Mo Ang, and said: "See clearly, the detailed provisions of the tax law are, 'Foundation injection The amount', so the benefits generated by the foundation are not included, understand? ”
Mo Ang took a closer look, and then his expression became a little calm.
Because the foundation has never been investigated, he has always believed that he has no right to investigate who the funds of the foundation flow to.
But if you really want to look at the words now, David is justified.
But so what!
Even if the IRS has the right to investigate the benefits, it also has the right not to cooperate with the investigation.
As long as he doesn't cooperate with the investigation and all data is kept private, he doesn't believe what David can do to his foundation!
Thinking of this, Mo Ang felt reassured. He crossed his legs and said, "Well, what you said, Inspector General David, makes sense, but so what? What can it be proved?"
“As far as I know, your foundation is first of all a ‘charitable trust institution’. In this public welfare institution, your clients have deposited a total of more than 50 billion US dollars in funds. These funds rely on By investing in industries in the United States and around the world, the monthly net profit is more than 1 billion US dollars!”
“But you can’t use this money, so you also established a family for your clients! Fund, every income generated will be cashed into family funds through the charity fund, which will perfectly become personal assets, am I right?”
Originally, I was still crossing my legs and looking cloudy. The calm-looking Mo Ang's expression changed drastically when he heard these words.
Because the funds and profit data of his foundation have not been disclosed at all, so how does David know about it?
In order to understand this, Mo Ang asked with a slightly anxious tone: "Where did you get these data?"
"You don't need to worry about this, you just need to answer I am or I am not!”
“No, this is not real data!”
Although the data David said is indeed true, it is not enough to shake the foundation of his bosses. , at this stage, Mo Aung only needs to deny it.
"Okay."
David didn't seem to be surprised and continued: "Red, Wordsworth, Meg... these are all officials from the former government. After they retired, they all entered "
The annual salary offered by the foundation to them is 6.3 million US dollars for Red, 4.6 million US dollars for Wordsworth, and 4.6 million US dollars for Merlot..."
"And they. Of course, you have to do something with this money. Every mid-term election, 12 billion in funds will be taken out from the foundation to fund the campaigns of congressmen and support in the political arena. That’s right, Mr. Mo Aung! ”
If Mo Ang only looked slightly panicked after what he said just now, then David’s next words made Mo Ang fall into the abyss.
He couldn't understand that even if David knew top-secret data about the foundation's funds and income, how could he also know the consultants hired by the foundation and the data on funds flowing to supporting congressmen?
If these data leaked into the hands of the media, not to mention that the bosses behind him would be ruined, but they would definitely fall into the whirlpool of public opinion.
As the head of the foundation, how could he end up well?
“Of course, your clients have huge funds, and it is not enough to just rely on hedging of charity trust funds and family trust funds every month, so you have also planned a model. For example, you have established a company A. , after a period of operation, its valuation was claimed to be 2 billion. Of course, this was just a lie and no one would buy it. "
"And a foreign multinational company B bought it for US$2 billion. After a period of operation, Company B sold the company to Company C for US$2.3 billion, and Company C took Company A public. ”
"In the end, your foundation will come forward to buy all the shares of Company A. After several years of operation, Company A will face bankruptcy, and then you will use a shell company to make billions in arbitrage."
" Relying on this model, you can not only inject billions more into your fund every month, but also avoid all taxes, right?"
"So now you think we have the right to step in? "
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 these accusations you said!"
At this point, Mo Ang could only say something with a sweaty mouth and a stiff retort.
But David did not coddle him anymore. He looked at him sharply and said, "Do you need me to bring in all of you hedging managers one by one for trial? Do you think they will be like you?" Are you still calm?"
Mo Ang gritted his teeth and said, "What exactly do you want to do? You know who my customers are!"
"Then what? How? Do you think I’m still afraid of this?”
“You...”
Now, no matter how stupid Mo Ang is, he knows that David is not targeting the foundation. He is clearly trying to use the momentum of the passage of the foreign tax avoidance bill to continue to further attack the three major groups.
"Mr. Mo Aung, if you cooperate with me honestly, I guarantee that nothing will happen to you, otherwise, you will definitely be the victim they pushed out in the end!"
What if this happens? It was revealed that the owners behind the foundation were unlucky. Let's not talk about it, but as the head of the foundation, Mo Aang, who illegally injected these "charitable funds" into private pockets and channeled them into the mid-term elections, must have Will be called a dog by the public.
It is impossible to escape the sanctions of the law!
“What do you want?”
Mo Ang is not a fool, of course he understands it very well, although everyone knows that the foundation was established by the rich to avoid taxes.
But if you know it, you know it. If you really expose it to the public, it will be another matter.
“It’s very simple. I need the contact between your foundation and the clients behind you, as well as more detailed information on the flow of each fund, to ensure that there is some evidence that this matter cannot be removed from your clients. !"
"No, they will kill me!"
"I said I will keep you safe, but if you have to die for them, you will be unlucky. It will be you first. 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 in the limelight in the United States for a while, but my customers are not vegetarians. Why do you think so?" Do you think you can keep me safe?" (End of Chapter)