CBS News: 7 takeaways from New York Times report on President Trump’s tax returns

At the same time Ivanka Trump was an executive officer of the Trump companies, she both profited from the hotels and the consulting fees, the Times story noted. The IRS in the past has pursued penalties against some companies that have sought to avoid taxes by paying consulting fees to people who weren’t, in fact, independent contractors, the report noted.

The maneuver helps companies sidestep payroll taxes, noted the Institute on Taxation and Economic Policy. Read more