The Times found that Trump paid just $750 in personal income taxes in 2016 and 2017 and none at all in 10 of the previous 15 years, citing business losses in the tens or hundreds of millions of dollars to decrease his tax burden.
The Times suggests Trump appears to be a con man.
Trump Holds $421 Million In Debt, Could Owe IRS $100 Million In Penalties…
President Donald Trump personally holds $421 million in debt and loans that are largely coming due in the next four years, The New York Times reported Sunday after obtaining more than two decades of his long-sought tax returns.
An ongoing audit by the Internal Revenue Service, meanwhile, could cost Trump more than $100 million.
The Times report also revealed that the president’s vast business interests created potential and real conflicts of interest for years and are under more financial stress than the self-described billionaire has previously disclosed.
Trump has been writing off money he gave to Ivanka by calling her a ‘contractor’: bombshell report…
President Donald Trump’s taxes are being reported by the New York Times revealing ways in which his daughter Ivanka has been getting millions from her father and avoiding paying the proper amount of tax on it.
“He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made,” the Times adds, noting it has obtained the president’s tax returns for the past two decades.
Today, Trump’s “finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.”