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

02:25  28 september  2020
02:25  28 september  2020 Source:   businessinsider.com

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Earlier in the day, The New York Times reported that US President Donald Trump ' s tax bill was US President Donald Trump , when pressured on his tax history, which was allegedly revealed by The NYT report to "That' s fake news . Actually I paid tax and you will see that as soon as my tax returns

US President Donald Trump paid just 0 in federal income taxes the year he ran for president and in his first year in the White House, according to a report Sunday in The New York Times . President Donald Trump speaking during a news conference at the White House, Sunday, Sept.

Donald Trump wearing a suit and tie: President Donald Trump speaks during a news conference at the White House in Washington, DC, on Sept. 27, 2020. Carolyn Kaster/AP Photo © Carolyn Kaster/AP Photo President Donald Trump speaks during a news conference at the White House in Washington, DC, on Sept. 27, 2020. Carolyn Kaster/AP Photo
  • President Donald Trump fielded questions from reporters on Sunday following an article by The New York Times that delved into his tax returns and detailed his financial woes.
  • "It's totally fake news. Made up, fake," Trump said.
  • Asked by reporters to be transparent about how much he paid in taxes, the president replied: "It's under audit, they've been under audit for a long time."
  • The Times reported that Trump shelled out only $750 in federal income tax in 2016 and 2017, but spent $70,000 on hair styling during "The Apprentice."
  • Visit Business Insider's homepage for more stories.

President Donald Trump on Sunday evening dismissed a damning report by The New York Times on his tax returns as "fake news."

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Trump Denies Report He Paid 0 in Income Tax in 2016, 2017. Trump has bucked tradition in refusing to release his personal tax records 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.

President Trump Tax Returns Finally Surface Reports of Massive Losses, Paid 0. The NYT claims to have obtained tax - return data extending over two decades, including 2016 and 2017 years they report Trump paid a paltry 0 in income taxes in each year. " IT ' s totally fake news ".

"It's totally fake news. Made up, fake," Trump said. "Actually, I paid tax."

The bombshell article revealed that the president paid only $750 in federal income tax in both 2016 and 2017. For 10 of the last 15 years, he paid no federal income taxes at all, according to the report. The Times also discovered that Trump claimed to have spent a whopping $70,000 to have his hair styled for "The Apprentice," and benefited from a massive tax refund of $72.9 million in 2010 that is the subject of an audit by the Internal Revenue Service.

At least $100 million is on the line in the ongoing audit, the Times reported.

A 2016 video of Hillary Clinton attacking Trump for his low tax bill is resurfacing after an NYT report showed he paid $0 for years

  A 2016 video of Hillary Clinton attacking Trump for his low tax bill is resurfacing after an NYT report showed he paid $0 for years Speaking at the first 2016 presidential debate, Donald Trump told Hillary Clinton that if he paid no federal income taxes: "That makes me smart."Clinton, speaking at the first presidential debate on September 26, 2016, made the claim after moderator Lester Holt asked why Trump was first candidate in decades not to release his tax returns.

The New York Times alleges that Donald Trump paid just 0 (£587) in federal income Mr Trump dismissed the report as " totally fake news ". "Actually I paid, but you'll see then as soon as The New York Times said it had reviewed tax returns relating to President Trump and the companies owned

New York . President Trump and the Manhattan district attorney have been locked in a legal battle over the president’ s tax returns for more than a year. They have cited multiple news reports that alleged misconduct by Mr. Trump or his companies as possible grounds for a wide grand jury inquiry.

The president has reported losses exceeding $315 million at his golf courses since 2000 and another $55.5 million at his Washington, DC hotel since its opening in 2016, per The Times.

Trump also accused the Internal Revenue Service of mistreating him during his Sunday press conference.

"The IRS does not treat me well, they treat me like the Tea Party, like they treated the Tea Party," he said. "You have people in the IRS that treat me very, very badly."

When pressed by reporters for a ballpark number of how much tax he has paid, Trump said that he can't share that information yet.

"You'll see that as soon as my tax returns – it's under audit, they've been under audit for a long time," he said.

"And when they're not, I would be proud to show you," he added. "But that's just fake news."

As the Times notes, the president's repeated claim that he can't release his tax returns while they're under audit has been denied by the Charles Rettig, the current IRS commissioner. Trump nominated Rettig for the position in 2018.

Everything Donald Trump Has Said About Releasing His Tax Returns

  Everything Donald Trump Has Said About Releasing His Tax Returns Revelations about the president's alleged tax affairs have reawakened a debate over the president's personal fortune.A New York Times investigation found that Trump paid no federal income taxes in 10 of the previous 15 years and just $750 in federal income taxes in the two most recent years of the newspaper's probe—2016 and 2017.

President Trump responded to a New York Times investigation of his tax information, calling the account “a highly inaccurate Fake News hit job!”Credit It was not immediately clear what specifically in The Times investigation Mr. Trump disputed. The article reported the staggering figure of .17

To which Trump replied: " It would be squandered too, believe me." Which sure seems like an admission that he hasn't paid a whole lot of taxes , right? Here' s what we do know about Trump ' s taxes -- thanks to reporting by The New York Times , among others: On his 1995 tax return , Trump

Read the original article on Business Insider

Video: NYT obtains two decades of Trump’s tax returns revealing years of tax avoidance (MSNBC)

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.

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