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Politics President Trump Paid $750 in Income Taxes in 2016 and 2017, NYT Says

01:40  28 september  2020
01:40  28 september  2020 Source:   bloomberg.com

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Trump also paid no income taxes in 10 of the last 15 years, the newspaper reported on Sunday. The disclosure, which the Times said comes from tax “Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in

Paper details $ 750 federal income tax payments in 2016 , 2017 and says The president “ paid $ 750 in federal income taxes the year he won the presidency ”, the paper reported, adding that The Times also said the documents it had obtained “comprise information that Mr Trump has disclosed to

(Bloomberg) -- President Donald Trump paid just $750 in income taxes in both 2016 and 2017, reported losing millions of dollars from his golf courses and has hundreds of millions in debt that will come due in the next few years, according to a report in the New York Times.

Donald Trump wearing a suit and tie: U.S. President Donald Trump listens while announcing his nominee for associate justice of the U.S. Supreme Court during an announcement ceremony in the Rose Garden of the White House in Washington, D.C., U.S., on Saturday, Sept. 26, 2020. Trump said he’ll nominate Judge Amy Coney Barrett for the Supreme Court, adding his third justice to the bench and a fresh jolt to his faltering campaign just weeks before Americans vote on whether to give him a second term. © Bloomberg U.S. President Donald Trump listens while announcing his nominee for associate justice of the U.S. Supreme Court during an announcement ceremony in the Rose Garden of the White House in Washington, D.C., U.S., on Saturday, Sept. 26, 2020. Trump said he’ll nominate Judge Amy Coney Barrett for the Supreme Court, adding his third justice to the bench and a fresh jolt to his faltering campaign just weeks before Americans vote on whether to give him a second term.

Trump paid no income taxes in 10 of the 15 years before he was elected, because he generated large losses that offset any money that he made, according to the Times analysis of at least two decades worth of Trump’s personal and business tax returns.

Trump denies New York Times report detailing his tax returns and financial problems: 'It's totally fake news'

  Trump denies New York Times report detailing his tax returns and financial problems: 'It's totally fake news' The Times reported that Trump paid only $750 in federal income tax in 2016 and 2017, but shelled out $70,000 on hair styling during "The Apprentice.""It's totally fake news. Made up, fake," Trump said. "Actually, I paid tax.

Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017 , after he became president , his tax bill was only $ 750 . He has reduced his tax bill with questionable measures, including a .9 million tax refund that is the subject of an audit by the Internal Revenue Service.

Tax court records indicate that Mr. Trump also avoided paying any federal income taxes in 1984. In 1991 and 1993, at a time when Mr. Trump ’s Atlantic City A CBS News/ New York Times Poll this month showed that 59 percent of respondents said it was necessary for him to release his tax returns.

The documents show that many of Trump’s businesses are struggling, with him putting more money into the firms than he is taking out, the report said. It also said he has earned $73 million abroad, despite a pledge that he would pursue no new foreign deals while president.

Trump said at a press conference Sunday that the report is “totally fake news.”

Trump has bucked tradition in refusing to release his personal tax records, which had become standard among candidates for office in recent decades. House Democrats have issued subpoenas for the documents, which have been mired in legal battles for more than a year. The Supreme Court in July said lower courts need to to do more to scrutinize the tax return requests.

The Times didn’t disclose how it got the documents.

(Adds Trump’s comment in 4th paragraph.)

For more articles like this, please visit us at bloomberg.com

©2020 Bloomberg L.P.

Here's what was true and what was false from the first debate .
As Trump and Biden attempted to make their points on the debate stage in Cleveland, NBC News fact-checked their claims in real time.NBC News fact-checked their statements in real time. For full coverage, visit the debate live blog.

usr: 0
This is interesting!