Trump paid just $750 in federal income tax in 2016
2020-09-28 at 07:37
The New York Times alleges that Donald Trump paid just $750 in federal income tax in 2016, the year he won the US presidency.
The newspaper – which says it has obtained tax records for Trump and his companies over two decades – also says he paid no income taxes at all in 10 of the last 15 years.
It says this is “largely” due to the companies reporting losses.
President Trump dismissed the report as “totally fake news”.
He told reporters after the story was published that, “Actually I paid, but you’ll see then as soon as my tax returns are done.”
The New York Times said it had reviewed tax returns relating to President Trump and the companies owned by the Trump Organization going back to the 1990s, as well as his personal returns for 2016 and 2017.
In a public filing in 2018, President Trump said that he had made at least $434.9m in revenues.
The newspaper disputes this, alleging that his tax returns show the president had instead gone into the red, with $47.4m in losses.