US President Donald Trump paid no income tax for 10 years

Monday, 28 Sep, 2020

US President Donald Trump paid extremely little in income taxes in recent years as heavy losses from his business enterprises offset hundreds of millions of dollars in income, the New York Times reported on Sunday, citing tax-return data.

US President Donald Trump, when asked about his tax history during a Sunday press briefing, after it had been revealed by a NYT report to be just $750 in 2017, claimed that The Times report was "totally fake news".

He paid no income tax at all in 10 of the previous 15 years, the newspaper also reports.

The Times reported that Trump has claimed $315 million in losses since 2000 on his golf courses, including the Trump National Doral near Miami, which Trump has portrayed as a crown jewel in his business empire.

His tax returns, a key talking point in the 2016 election, have been a constant presence during his presidency and ahead of the November 3 election, when Trump is seeking a second term.

Responding to a question during an evening news conference, Trump described the report as "fake news" and then claimed to have paid "a lot" of taxes.

The newspaper didn't say where it obtained copies of Trump's tax filings, the leaking of which would be illegal. He said he has paid "a lot" of income taxes, including NY state taxes, and that information will come out after the audit. But that hasn't stopped Trump from using it as a defense against releasing his financial information.

The Times emphasized the documents reveal only what Trump told the government about his businesses, and did not disclose his true wealth.

Trump has previously bragged about not paying taxes.

Last year, House Ways and Means Committee Chair Richard Neal, D-Mass., sued federal officials to try to obtain six years of Trump's tax returns.

Should that battle be lost, Mr Trump could face a further $100 million tax bill.

The report found that Trump has written off a long list of things he classified as business expenses, including $70,000 to his hair stylist while appearing on "The Apprentice", and more than $95,000 for hair and makeup services for Ivanka. Likewise, his Trump International Hotel in Washington has lost $55 million, the Times reported. "New York state charges a lot".

Celebrities, politicians, and others are reacting to the bombshell allegation that President Trump only paid $750 in taxes in 2016 and 2017.