Breaking News ! The New York Times got access to Trump's tax returns for the past 2 decades
In response to:
Today From The New York Times
EXCLUSIVE
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.
Sunday, September 27, 2020 5:16 PM EST
Mr. Trump’s finances are under stress, beset by losses that he aggressively employs to avoid paying taxes, and hundreds of millions in debt that he has personally guaranteed, which comes due in the coming years.
He paid $750 in federal income taxes in 2016, and nothing in 10 of the previous 15 years — largely because he reported losing much more money than he made.
Also hanging over him is an audit battle that he has long been waging, out of public view, with the I.R.S. An adverse ruling could cost him more than $100 million.
Today From The New York Times
EXCLUSIVE
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.
Sunday, September 27, 2020 5:16 PM EST
Mr. Trump’s finances are under stress, beset by losses that he aggressively employs to avoid paying taxes, and hundreds of millions in debt that he has personally guaranteed, which comes due in the coming years.
He paid $750 in federal income taxes in 2016, and nothing in 10 of the previous 15 years — largely because he reported losing much more money than he made.
Also hanging over him is an audit battle that he has long been waging, out of public view, with the I.R.S. An adverse ruling could cost him more than $100 million.
In response to:
The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.
By Russ Buettner, Susanne Craig and Mike McIntire
Sept. 27, 2020
Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.
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.
As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.
The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.
The returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination.
The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.
By Russ Buettner, Susanne Craig and Mike McIntire
Sept. 27, 2020
Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.
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.
As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.
The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.
The returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination.
Comments (76)
That makes ZERO sense
A common factor among large business organizations is that they hire lawyers/accountants to pay the minimum required (BY LAW)
Most people would agree that the tax code needs to be re-written, but that's the job of Congress, not Trump. Expecting billion dollar organisations to be paying any more than they're legally required to is peak intellectual dishonesty.
Democrats currently have a healthy majority in the House of Representatives. They could easily re-write the tax codes and eliminate loopholes. But they have zero interest in doing so, since a large number of them likely have financial investments that benefit from the current laws, and receive campaign contributions from people who likewise benefit. The same can be said on the Republican side. This is how the system has been set up to work.
I'm grateful that this is online as the amount of spittle you spewed during your little tirade would have been most obnoxious to have been exposed to.
Like your gold plated idol, Donald Trump, your only recourse is to attack me and anyone else who sees through your idol. What a weak position to find yourself in. Why on earth would I care what you and your ilk think of me? I don't and I never will.
Baloney.
It's a binary choice. You are either for President Trump or you are for the destruction of America.
5 more weeks of nonsense from both sides.
Paid to style Trump’s hair for television, claimed as expenses.
$95,464
The total sum nine of Trump’s companies have paid as expenses to style Ivanka Trump’s hair.
$210,000
The amount written off as expenses to hire a photographer taking photographs at the Mar-a-Lago club.
$26m
“Consulting fees” charged as a business expense between 2010 and 2018, at least some of which appears to have been directed to a company co-owned by Ivanka Trump.
$434m
What Trump declared his earnings to be in the 2018 presidential public annual financial disclosure.
$47.4m in losses
What he had declared to the Internal Revenue Service (IRS) for tax purposes over the same period.
$421m
Outstanding loans that Trump owes, most of which becomes due within the next four years.
$73m
Revenue generated from outside the US, presenting a potential conflict of interest with US foreign policy.
$13m
Earned in one licensing deal for Trump Towers in Istanbul, including $1m since he became president.
$72.9m
The tax refund Trump claimed and was awarded, which is now the subject of a decade-long audit battle with the IRS. It covered all the federal tax he had paid between 2005 and 2008.
$1.4m
The annual average amount of federal tax paid by Trump between 2000 and 2017. It compares with the $25m in federal income taxes the average American with similar declared earnings could expect to pay.
$100m
The amount Trump could now have to pay back to the IRS, including penalties, if it finds against him in the audit.
$315m
The sum reported “lost” by Trump’s golf courses since 2000.
‘Tens of millions of dollars’
What Alan Garten, a lawyer for the Trump Organization, claims the president has paid in personal taxes since 2015.
More than 500
The number of individual companies, many bearing the Trump name, that make up the nebulous corporate network generally referred to as the Trump Organization.
$70,000
Paid to style Trump’s hair for television, claimed as expenses.
o - Ol' Joe - Observably suffering from worsening Dementia
o - The Don - Less so
If he loses the election he will likely go through yet another bankruptcy.
If he loses his battle with the IRS, he will likely go bankrupt anyway.
He's also going to have huge legal fees after he loses the election and is subsequently indicted on multiple counts. He has kept his empire barely afloat by securing loans and laundering money from Russian oligarchs as well as
the $ Millions he has gotten from emoluments violations.
If he wins the election, he may be able to continue to escape the 6th bankruptcy until the loan paybacks are due.
Either way, it's obvious that he is an easy target for the rich to control, including those with allegiences toward foreign nations.
Russiagate trivia: Which prominent politician's son received $3.5m from the female Russian billionaire oligarch in this picture???
Putin made a wise investment in spreading misinformation about Hillary
and now Biden. There's a reason Putin backs Trump all the way.
Russia apparently loaned him money to start golf courses.
It's rather ironic, that the tax returns specified, that Trump's golf courses are losing $ Millions.
Right now he's focused on the impending debate tomorrow.
However, he's already tried having his tax attorneys lie about it.
Now you're trying to repress his freedom of speech.
Wow, that almost sounds like a quote from DR.
It makes zero difference how much tax President Trump paid.
Plus, there is also the situation of all his lies about how much money he makes.
chancer_returns•9 hrs ago•Dublin, Ireland
"Misinformation Jim repeating propaganda again"
Chancer you should stick to Reptilian alien fantasies and market a plastic "Q" helmet with a wobbly Q on top.
$70,000 for he's hair?...That would work out to a lot for each single strand of hair..
So who did he lie to?
If he opens his mouth, he's probably lying.