Donald Trump ‘paid $ 750 in federal income taxes in 2016’ – New York Times

The New York Times alleges that Donald Trump paid just $ 750 (£ 587) in federal income taxes in 2016, the year he won the US presidency.

It says this is “largely” because the companies reported losses.

Trump dismissed the report as “totally bogus news.”

“I actually paid, but they’ll see it as soon as my tax returns are done,” he told reporters after the story ran on Sunday.

The New York Times said it had reviewed tax returns related to President Trump and companies owned by the Trump Organization since the 1990s, as well as his personal returns from 2016 and 2017.

The post claims that Trump paid just $ 750 in income taxes in 2016 and $ 750 in 2017.

The Trump Organization also rejected the accusations.

Alan Garten, legal director of the Trump Organization, said “most, if not all, of the facts appear to be inaccurate,” in response to a letter compiling the Times’ findings.

“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 he announced his candidacy in 2015,” Garten said.

In a public filing in 2018, President Trump said he had made at least $ 434.9 million in revenue. The newspaper disputes this, claiming that its tax returns show that the president had entered the red, with $ 47.4 million in losses.

The newspaper also claims that “most” of President Trump’s biggest businesses, like his golf courses and hotels, “report losing millions, if not tens of millions, of dollars year after year.”

The New York Times claims that the president is personally responsible for more than $ 300 million in loans, which will mature in the next four years.

It also alleges that some of President Trump’s companies have received money from “lobbyists, foreign officials and others seeking time, access or favors” from the president.