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BREAKING: Trump’s tax returns show he paid $ 750 in federal income taxes the year he won the presidency, with no income taxes for 10 years, and reported large business losses.
- The President is said to have reported losing more money than he earned
- Trump has previously criticized the search for his financial records as a “ continuation of the most disgusting witch hunt in the history of our country. ”
- He is the only modern president who has refused to publish his tax returns.
Donald Trump’s tax returns show he paid just $ 750 in federal income taxes in the year he won the presidency and $ 750 in his first year in office.
Documents show that the president did not pay income taxes in 10 of the previous 15 years, according to a report in The New York Times.
It is said that he reported losing more money than he made.
Trump has previously criticized the search for his financial records as a “ continuation of the most disgusting witch hunt in the history of our country. ”
The businessman is the only modern president who has refused to publish his tax returns. Before being chosen, he had promised to do so.
The data obtained by The Times does not include his personal statements from 2018 and 2019.
Donald Trump’s tax returns show he paid just $ 750 in federal income taxes in the year he won the presidency and $ 750 in his first year in office.
A federal appeals court tested the waters on a potential compromise but did not immediately rule on Friday after arguments in Trump’s long fight to prevent a high-ranking New York prosecutor from obtaining his tax returns.
Trump’s attorney, William Consovoy, noted that they will be satisfied only if Manhattan District Attorney Cyrus Vance Jr. cannot obtain all of the requested records.
His lawyers contend that the subpoena requesting eight years of corporate and personal tax returns from the president amounts to a ‘fishing expedition’ and that Trump should receive the same protections as ordinary citizens in the same situation.
They argued that, in addition to acknowledging an investigation into money paid to two women who alleged affairs with Trump, Vance’s office has not specified why it needs such an extensive collection of their financial records.
Vance, a Democrat, began looking for the Republican president’s tax returns at his former accounting firm more than a year ago, after former Trump personal attorney Michael Cohen told Congress the president had misled officials. tax, insurance and business partners on the value of their assets.
