United States President Donald Trump paid only $750 in federal income taxes in 2016, the year he won the presidential election, The New Yo...
United States President Donald Trump paid only $750 in federal income taxes in 2016, the year he won the presidential election, The New York Times reported on Sunday. In his first year of presidency also, he paid only $750 as tax.
“He had paid no income taxes at all in 10 of the previous 15 years – largely because he reported losing much more money than he made,” the newspaper said in an investigative article headlined “Long-concealed records show Trump’s chronic losses and years of tax avoidance”. The newspaper investigated the president’s tax return data for 18 years, and said that Trump did not pay taxes for 11 of those years.
The documents contained information that Trump had disclosed to the US government’s Internal Revenue Service and were not findings of any independent inquiry, the newspaper added. While these documents show that Trump owned millions of dollars in valuable assets, they do not show his true wealth or reveal “any previously unreported connections to Russia”.
Trump’s tax returns have been a talking point ahead of the upcoming presidential elections in November. They were also issues of contention during his 2016 election run as well as during his presidency. While US presidents do not have to release details of their...
