U.S. President Donald Trump paid only $ 750 in federal income taxes in 2016, when he was elected president.
The same thing happened again in 2017. The amount is significantly lower than the average American worker.
The case emerges from an extensive study commissioned by the New York Times, in which the magazine looked at Trump’s tax return data for as many as two decades.
The data included information on tax refunds for Trump and hundreds of companies in the Trump organization.
According to the newspaper, the tax return data revealed not only years of tax evasion but also, among other things, hundreds of millions of dollars in maturing debts.
According to the report, Trump had not paid income taxes at all for ten years over a 15-year period.
He gave the taxpayer the reason he had lost a lot more money than he had earned.
According to the magazine, the ongoing election campaign is overshadowed by economic pressure.
Recent polls show Trump is in danger of losing the next presidential election.
The incumbent president has personally guaranteed hundreds of millions of dollars in maturing debts.
Trump is also behind a decade-long battle with the tax office over the correctness of the $ 72.9 million tax refund.
Trump received a tax refund after reporting huge financial losses.
A decision denying the tax could cost him more than $ 100 million.
The tax information that Trump has been fighting for a long time to preserve privacy tells a story that is different from what he has told the American people, NOW is telling.
Trump has appeared as a businessman who raises hundreds of millions of dollars a year, but in reality his business has suffered from chronic losses, which he aggressively exploits to avoid paying taxes.
As financial challenges have grown, tax filing data show, according to the newspaper, that Trump is increasingly financially dependent on his dealings with companies that put him in a potential and often direct conflict of interest with his presidency.
The data revealed that Trump holds hundreds of millions of dollars in his holdings, but the data still does not reveal his true wealth.
The data also did not reveal any new connections to Russia.
Trump called the information fake news
At a news conference on local time on Sunday, Trump called NYT's revelations invented and "fake news."
- It's fake news.
Completely false news.
Valetta, he commented on the allegations at a press conference.
- Basically, they say I didn't pay anything.
He assured that he had paid "a lot" and used, among other things, state income taxes.
- First of all, I paid a lot and I have paid a lot of the Land of income taxes.
New York State to charge a lot and I have paid a lot of the Land.
The U.S. IRS treats Trump in his own opinion "very badly."
The President assured that the information will still be made public, but only after the audit.
According to him, due to the inspection measures, the information cannot be disclosed at the moment.
"Everything will be revealed," Trump said.
- I look forward to its publication.
I look forward to making many things public.
I’m going to reveal a lot of things, and people are going to be very upset, he said.
Tran Organization lawyer Alan Garten told NYT in response to the tax revelations that Trump has paid significant sums in previous years.
- Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, Garten told the newspaper.
- Including millions in personal taxes since he announced his candidacy in 2015.
However, according to NOW, Garten also appears to include other federal taxes in his "personal taxes," such as Social Security and health insurance contributions and taxes related to the Trump family workers.
Disclosure of Trump’s tax data has been a hot potato throughout Trump’s presidency.
Trump has been hiding his tax information for years, even though presidents have typically published it voluntarily since the 1970s.
The debate over the daylight sustainability of Trump’s economic data is particularly hot under the upcoming presidential elections in November.
In August, the New York City Manhattan District Attorney's Office said it was investigating Trump and his business for possible banking and insurance fraud, including the New York Times.
The investigation by the district attorney's office has continued for two years.
at 01.30 & 03.49: the case was supplemented throughout and adjusted for income taxes as federal income taxes and tax information as tax return information.
at 2:35 a.m .: Added comments from Trump and the Trump organization attorney.