![]() If that were true, it could create further legal peril. The Times cites evidence that some of the fees may have been paid to his daughter, Ivanka Trump, though she was not an outside figure, given her role as a top official in the Trump Organization. Some reductions in the president's tax liability came from unexplained consulting fees.Here are other key points from The New York Times: The Times says it obtained over 20 years of tax return data for Trump and the myriad companies that make up his organization. Responding to the Times, Alan Garten, a lawyer for the Trump Organization, told the publication that "most, if not all, of the facts appear to be inaccurate." "That makes me smart," he said in a 2016 debate against Hillary Clinton, when she accused him of not paying federal income taxes. Trump has previously bragged about not paying taxes. ![]() (In fact, an audit would not prevent the president from releasing his records.) ![]() He said "it'll all be revealed" when his tax returns can be released after audit - something he's said for years. When asked about the report during a Sunday evening news conference, Trump refused to detail what he's paid in federal income taxes, saying simply: "I've paid a lot." NPR has not confirmed any of the details from the filings the Times didn't post any of its source documents to protect sources, according to the story. The Times said an "adverse ruling could cost him more than $100 million."Īll told, the investigation provides the most detailed accounting yet of the finances of a president with massive business interests who has sought to shield the details of those finances from the American public. The Times cites Trump's long-sought-after tax returns, further reporting that he paid no income taxes at all in 10 of the previous 15 years as Trump reported massive losses to his businesses.Īmong its other findings, the investigation determined that Trump has hundreds of millions of dollars in loans that are set to come due within the next four years - potentially his second term in office - and that he's battling the Internal Revenue Service over a nearly $73 million tax refund he claimed a decade ago. President Trump takes a question during a news conference at the White House on Sunday, where he dismissed reporting from The New York Times that he has paid little or no federal income taxes in recent years as "fake news."Ī New York Times investigation published on Sunday said that President Trump paid just $750 in federal income taxes each year in 20, which the president denied at a news conference using a familiar retort: "fake news."
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