NY Times: Trump paid $750 in US income taxes in 2016, 2017
(CNN) — Donald Trump has paid no income taxes whatsoever in 10 of the past 15 years since 2017 as a result of reporting that he was losing significantly more than he made, according to an explosive report released Sunday by the New York Times.
The President paid just $750 in federal income taxes in both the year he won the presidency and his first year in the White House, according to more than two decades of his tax information obtained by The Times.
Trump’s taxes have been largely a mystery since he first ran for office. During the 2016 campaign, the then-candidate broke with presidential election norms and refused to produce his tax returns for public review. They have remained private since he took office, and Trump has repeatedly said he’s under audit by the IRS, which has been ongoing since at least 2016, according to the President.
In response to a letter summarizing the newspaper’s findings, Trump Organization lawyer Alan Garten told the Times that “most, if not all, of the facts appear to be inaccurate” and requested the documents.
The New York Times said it will not make Trump’s tax-return data public so as not to jeopardize its sources “who have taken enormous personal risks to help inform the public.”
At a briefing Sunday, Trump denied the New York Times story, saying that it was “fake news.”
The tax-return data obtained by the newspaper does not include his personal returns for 2018 or 2019.
Being under audit by the IRS does not preclude someone from releasing their tax returns publicly. But that hasn’t stopped Trump from using it as a defense against releasing his financial information.
In 2016, Trump released a letter from his tax attorneys that confirmed he was under audit. But the letter also said the IRS finished reviewing Trump’s taxes from 2002 through 2008. Trump did not release his tax returns from those years, even though the audits were over.
A previous New York Times investigation published in 2018 reported that Trump had helped “his parents dodge taxes” in the 1990s, including “instances of outright fraud” that allowed him to amass a fortune from them
Trump received at least $413 million in today’s dollars from his father’s real estate empire, starting at the age of 3.
COPYRIGHT 2020 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.