IRS agent testifies Manafort failed to report $16.5M in taxable income

Source: Daily Beast | August 8, 2018 | Brett Samuels

An IRS agent testified on Wednesday that former Trump campaign chairman Paul Manafort accumulated $16.5 million in unreported taxable income between 2010 and 2014.

Reuters reported that prosecutors called IRS revenue agent Michael Welch to testify about business and tax records regarding Manafort, who was charged as part of special counsel Robert Mueller’s ongoing investigation. Welch said Manafort’s unreported taxable business income included foreign wire transfers and income reclassified as loans.

Welch had been in the courtroom observing the trial leading up to his testimony, a fact that irked Judge T.S. Ellis III, The Washington Post reported.

Ellis grew frustrated with the prosecution, telling them he typically bars all witnesses from watching trials. The judge has previously clashed with the attorneys in the case over their gestures and facial expressions.

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The prosecution has argued that Manafort concealed millions of his earnings in overseas bank accounts and used the unreported income to fund a lavish lifestyle.

Prosecutors previously argued that Manafort opened more than 30 overseas bank accounts to hide more than $60 million he earned from lobbying work.

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