About the Stormy Daniels saga, things are progressing. I personally think that Michael Cohen will be reprimanded by the New York State Bar Association. Even face disbarment. How could he not record this properly? They will need to bring in forensic accountants ** ....
.... to see if, how, and where this transaction got reported. President Trump is saying it was a gift. However Cohen did not inform his client to that effect. And if the transaction coming out of the LLC was not reported to the Internal Revenue Service (Either through a Form 709 or via a Form 1099 MISC) then ouch. I hope Stormy Daniels did the right thing and discussed this with her tax advisors and attorney after receiving the payment. Not to mention the fact that the payment also calls into question this: that the transaction may very well be a violation of the Federal Election statutes.
Attorneys can be disbarred for accounting gaffes.
** Yes, My post need more action. Kudos to Ben Affleck, Anna Kendrick, J.K Simmons, Cynthia Addai-Robinson, John Lithgow, Jon Berthal, and Jeffrey Tambor.
Ben Affleck -- He kicks ass!!!