The US president keeps his tax returns as a state secret. The New York Times claims to still have access to documents – and reports that Trump systematically paid little or no taxes.
Just over a month before the US presidential election, an explosive report in the New York Times draws attention to the finances of incumbent Donald Trump. The US president has paid little or no federal taxes for years. As the newspaper reported Sunday night, citing tax documents, his corresponding tax in 2016 and 2017 was $ 750 each.
In ten of the 15 years up to 2017, he had not paid federal taxes, he said. Trump was claiming heavy losses from various business areas.
According to the paper, the president faces financial difficulties in a decades-long legal battle with the IRS tax authorities. In an initial response, Trump called the report “totally fake news.”
$ 70,000 in hairdressing costs deducted
According to its own report, the New York Times has gained access to tax documents pertaining to the president and hundreds of companies in his business empire for more than two decades. This includes information about the first two years of his term of office. However, documents for 2018 and 2019 are not available.
The data was based on information provided by Trump himself, and many questions, such as the size of his wealth, went unanswered. The newspaper specifically wrote that the documents do not contain new evidence of ties to Russia.
On the other hand, the documents should contain very detailed lists. In connection with his TV series “The Apprentice”, Trump has deducted $ 70,000 in hair care costs from taxes. According to the report, he is engaged in a lawsuit with the IRS over a year ago for a tax refund of nearly $ 73 million. Should the authority prevail, Trump would have to pay the federal government more than $ 100 million. In the United States, federal, state, and local governments collect their taxes separately.
Investigation into Trump’s finances
A Trump attorney told the paper that the president had paid millions in taxes over the past ten years. Initially, there was no evidence for the respective statements. The New York Times declined to publish the original documents with reference to source protection.
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Trump, for his part, is keeping his tax returns under lock and key, contrary to US presidential practice. He justified this with an ongoing tax audit by the IRS. Trump’s finances are under scrutiny, including by the Democrat-ruled House of Representatives. Deutsche Bank has also dealt with the Republican under investigation.
The new report was released two days before the long-awaited Republican’s first presidential debate against his Democratic challenger Joe Biden.