– by Pete Schroeder
Washington (Reuters) – US President Donald Trump has paid little or no federal taxes for years, according to a newspaper.
As the “New York Times” reported on Sunday evening, citing tax documents https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html, its corresponding load was in 2016 and 2017 $ 750 each. In ten of the 15 years up to 2017, he had not paid any federal taxes, it said. Trump claimed heavy losses from various business areas. According to the newspaper, the president is threatened with financial hardship in a decade-long legal battle with the tax authority IRS. In an initial reaction, Trump called the report a “totally fake news”.
According to its own account, the “New York Times” received access to tax documents over a period of more than two decades, which affect the president as well as hundreds of companies in his business empire. This includes information about the first two years of his term in office. However, documents for 2018 and 2019 are not available. The data was based on information provided by Trump himself, numerous questions such as the size of his wealth remained unanswered. The newspaper specifically wrote that the documents contained no new evidence of ties to Russia.
The documents, on the other hand, should contain very detailed lists. In connection with his TV series “The Apprentice”, for example, Trump deducted $ 70,000 in hair care costs from taxes. According to the report, he is embroiled in a lawsuit with the IRS over a year ago tax refund of nearly $ 73 million. Should the authority prevail, Trump would have to pay the federal government over $ 100 million. In the United States, the federal, state, and local governments collect their taxes separately.
A Trump attorney told the newspaper the president had paid millions in taxes over the past decade. At first there was no evidence for the respective representations. The “New York Times” refused to publish the original documents with reference to the protection of sources. Trump, for his part, keeps his tax returns under lock and key, contrary to the usual practice in the USA for presidents. He justified this with an ongoing tax audit by the IRS. Trump’s finances are the subject of investigations among others by the House of Representatives ruled by the Democrats. Deutsche Bank has also made deals with the Republican that are the subject of an investigation.
The new report was released two days before the highly anticipated first Republican presidential debate against his Democratic challenger Joe Biden. According to a Reuters / Ipsos poll published last week, Biden leads Trump. However, the race is therefore very close in important states. The election will take place on November 3rd.