A Letter from Trump Tax Lawyers Leaves Unanswered Questions

President Trump’s team of lawyers have asserted in a letter that his income tax returns do not show income from Russian sources or debt owed to Russians, except for some exceptions – $95 million paid by a Russian billionaire (Dmitry Rybolovlev) for an estate in Florida, and $12.2 million he received for holding the 2013 Miss Universe pageant in Moscow.
The letter, addressed to President Trump and dated March 8, was sent by lawyers Sheri A. Dillon and William F. Nelson of the law firm Morgan, Lewis and Bockius. The president mentioned the letter in an interview with Lester Holt that aired on NBC Thursday.
Besides the Florida real estate and the Miss Universe pageant, the letter states that Trump had received undisclosed payments over 10 years from Russians for goods and services at Trump hotels, golf courses and for products like wine, ties, and mattresses. These transactions would not appear on his tax returns.
The letter refers only to the period of time that the law firm has represented the president and the Trump Organization. It does not address whether he or his cpanies received income or loans connected with Russian individuals, from entities owned by Russians but registered elsewhere, or whether he received income from partnerships, with foreign individuals from Russia or elsewhere, that file their own tax returns.
 
The New York Times article about the letter can be found here.
https://www.nytimes.com/2017/05/12/us/politics/trump-russia-tax-returns.html?_r=0

A Talking Points Memo article, with the letter, can be found here.
http://talkingpointsmemo.com/edblog/the-trump-tax-returnrussia-letter-is-full-of-holes
 
The NBC News interview with Lester Holt can be found here.
http://www.nbcnews.com/nightly-news/video/pres-trump-s-extended-exclusive-interview-with-lester-holt-at-the-white-house-941854787582
 

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