The oft-discussed rumors of President Trump not paying taxes have come to the light, revealing 10 out of the last 15 years he did not pay at all. In the year he won the presidency and his inaugural year, Trump paid $750, The New York Times reports.
Along with sidestepping taxes, the NYT states Trump’s finances are “under stress” due to forthcoming hundreds of millions of dollars of debt. If that isn’t enough bad news in the world of Trump, he is in a decade-long audit battle with the Internal Revenue Service involving a $72.9 million tax refund that he received when he cited to have suffered from substantial losses.
The report states Trump reports bringing in hundreds of millions of dollars yearly and avoids paying taxes due to chronic losses and now needs to rely on businesses that would reflect of conflict of interest with his position in the presidency.
In response to the reveal, Alan Garten, a lawyer for the Trump organization stated the findings are “most, if not all, of the facts appear to be inaccurate.”
“Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Mr. Garten said in a statement.
The Times points out the use of “personal taxes” was specifically stated as it conflates income with other taxes, as Trump has paid into both Social Security and Medicare.
You can read the full report below.
