Trump dismissed the allegations about no tax return as fake news
Donald Trump paid just $750 a year in federal income taxes in 2016 and 2017, the New York Times reported on Sunday after he won the presidential elections. In 11 of the 18 years of taxes, Trump paid no federal income taxes at all, the newspaper reported largely because he reported losing much more money than he made. Trump had disclosed to the US government’s Internal Revenue Service and were no 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 has claimed in the past that the American public had no interest in his taxes and also that he could not disclose his tax returns as he was under audit by the Internal Revenue Service. His IRS commissioner, however, has refuted this argument. Noting the measures that Trump has employed to reduce his taxes, the article said that his finances were under stress “beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed” ahead of the November 3 election.
A cooked up story, states Trump
Trump at a press conference on Sunday afternoon dismissed the report as fake and added that the actual figures of the tax he paid will be out after the audit. He alleged the newspaper to be maligning his image which additionally revealed that Trump has been locked in a dispute with the IRS since 2010 over a tax refund he received between 2005 to 2008. The newspaper report is the most detailed examination of Trump’s tax affairs published to date. The editor however stated that it was not publishing the tax documents it procured due to safety reasons.