President Trump ripped the New York Times new report claiming he only paid $750 in federal taxes in 2016 and 2017, “Its fake news, it’s totally made up,” Trump said Sunday. “Everything was wrong, they are so bad.”
“I’ve paid a lot and I’ve paid a lot state income taxes too,” he said.
“I’m under audit,” Trump said Sunday. “They’re doing an assessment.” The report does show an audit fight over close to $73 million that is still underway between Trump and the IRS although it may have been set aside until after he leaves office. The issue is a tax refund Trump took. The IRS wants it back saying it was improper, Trump says he was right to do it. It
From The Hill:
President Trump paid no income taxes for 10 of the 15 years before he was elected president, and his income tax payments in 2016 and 2017 amounted to just $750, according to The New York Times, which obtained the president’s tax information for the last 20 years.
The Times found that Trump faces hundreds of millions of dollars in debt and struggling Trump Organization properties and that he has taken advantage of a number of write-offs to avoid paying taxes.
In a statement to the Times, Trump Organization lawyer Alan Garten said that “most, if not all, of the facts appear to be inaccurate” and reportedly took issue with the amount of taxes the Times reported that Trump has paid.
“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 announcing his candidacy in 2015,” Garten told the Times.
Trump himself also denied the Times’s reporting during a press conference on Sunday, calling the story “totally fake news.”
“The IRS does not treat me well. They treat me like the Tea Party,” he continued, referring to claims from GOP figures that the IRS targeted GOP-leaning groups during the Obama administration.
The Times revealed that the president faces payments on more than $300 millions in loans that will become due in the next few years, while revenue from his time hosting “The Apprentice” on NBC has mostly dried up, and he has largely sold his stock portfolio.
Read the full report here.
JUST IN: Trump says The New York Times story on his tax returns is "totally fake news."
The Times has obtained tax-return data for President Trump extending over more than two decades. It shows chronic losses and years of tax avoidance pic.twitter.com/Ni5El7S6gR
— Bloomberg QuickTake (@QuickTake) September 27, 2020
