United States President Donald Trump had paid no income taxes at all in 10 of the previous 15 years as he reportedly losing much more money than he made, The New York Times reported on Sunday, citing he paid only$750 in his first year in the White House
Donald Trump paid just $750 in federal income taxes in 2016, the year he won the election. The tax return data extending more than 20 years, it added.
He also paid just $750 in his first year in the White House, and “he had paid no income taxes at all in 10 of the previous 15 years” because he reported losing much more money than he made, it added.
The allegations came just weeks before a divisive election, with early voting already underway.
“It’s totally fake news, made up, fake,” Donald Trump said when asked about the report in his daily briefing, adding, “Actually I paid tax.”
He insisted his tax details would be released when the Internal Revenue Service (IRS) finishes its audit. “They’ve been under audit for some time. They treat me very badly,” US president said.
A lawyer for the Trump Organization told The New York Times that “most, if not all, of the facts, appears to be inaccurate”.
In a statement, he said the president “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”.
The newspaper claimed Trump was able to minimize his tax bill by reporting “heavy losses across his business empire”. Source: https://www.daily-bangladesh.com/
