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.
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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.
In case you are keeping track:
NY Times: President Trump paid $750 in US income taxes in 2016, 2017 - gulflive.com
President Donald Trump speaking during a news conference at the White House, Sunday, Sept. 27, 2020, in Washington. (AP Photo/Carolyn Kaster) AP
President Donald Trump paid no federal income taxes in 10 of the past 15 years, according to a report Sunday in The New York Times .
Trump, who has fiercely guarded his tax filings and is the only president in modern times not to make them public, paid $750 in taxes to the federal government the year he was elected, 2016, and $750 again his first year in office.
New York Times: Donald Trump paid no income taxes in 10 of past 15 years - CNNPolitics
Trump is fuzzy on tax policy as Biden goes all in - POLITICO
Trump has raised various ideas in recent months, though his proposals remain much vaguer than during his 2016 presidential campaign.
President Donald Trump speaks during his reelection kickoff rally at the Amway Center on June 18, 2019, in Orlando, Fla. | Evan Vucci/AP Photo
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Usually, it's the Republican candidate who's got grand plans to overhaul the tax code. But in the 2020 presidential race, it's Democrat Joe Biden who's been offering scads of proposals — most of them to increase taxes.
In case you are keeping track:
Man Finds 9-Carat Diamond. IRS Finds—And Taxes—Man
The stone has not yet been appraised, but whatever the massive diamond turns out to be worth, does Mr. Kinard really have to worry about looking over his shoulder for the IRS? Yes, that's the not so feel-good part of the story. According to the IRS, money or valuables you find are taxed, even if you just happen upon something by pure luck, and even if you don't sell it to turn it into cash.
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About the only way a recovery is tax-free is if you recover your own property, something like art stolen by the Nazis and later recovered. If you can prove it's yours and you are just getting it back, it should not be taxed. But even then, under the "tax benefit rule," if you originally claimed a tax deduction for theft or loss of the property, you must include the value of the recovered property in your income when you get it back.
Newsviews: Graduated Tax Amendment - ABC7 Chicago
On Election Day, Illinois voters will be asked to vote on an amendment to the state's constitution.
More taxes, more spending, more borrowing! It's party time in Trenton! | Moran - nj.com
Speaker Craig Coughlin, whose influence is growing in Trenton, broke a long deadlock by agreeing to increase the millionaires' tax in return for a new tax credit for the middle class. He's shown here during the "Walk to Washington" in February. Michael Mancuso | NJ Advance Media for NJ.com
California cut $11 billion from its budget, hitting colleges and affordable housing programs. Georgia cut spending by 10 percent, pulling back spending on preschools and programs for the disabled. Tennessee lawmakers cut $1 billion, including transit programs.
Trump paid little to no federal income taxes over several years: NYT
President Donald Trump's businesses have hemorrhaged hundreds of millions of dollars over the last two decades, allowing him to minimize his federal income tax bill to $0 or nearly $0 for many of the years in that period, according to a bombshell report published on Sunday by The New York Times.
Trump paid just $750 in federal income taxes in 2016 and another $750 the following year, the newspaper reported, and none at all in 10 of the previous 15 years. He is personally responsible for more than $420 million in debt, most of which is coming due within the next four years, according to the Times.
Happening on Twitter
The Times obtained Trump's tax information extending over more than 2 decades, revealing struggling properties, vas… https://t.co/qe3G3pl0Hw Alyssa_Milano (from Los Angeles) Sun Sep 27 21:40:40 +0000 2020
BREAKING: Trump's Long-Concealed Taxes Show Chronic Losses and Years of Income Tax Avoidance #TaxCheatTrump https://t.co/CSCQCETFww joncoopertweets (from New York) Sun Sep 27 21:32:49 +0000 2020
Trump's taxes show that he's a great marketer who's disastrous when left to run anything. That's the story of his b… https://t.co/sFTmorWzzn ezraklein (from DC) Sun Sep 27 21:48:49 +0000 2020
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