President Donald Trump calls New York Times reports that said he paid no federal income taxes for 10 of the past 15 years “fake News”. “its fake news, it’s totally made up, everything was wrong, they are so bad,” Trump said during his press briefing on Sunday.
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New York Times reported that, 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 and$750 again his first year in office.
“in 2017, the president’s $750 contribution to the operations of the U.S. government was dwarfed by the $156,824 in the Philippines,” New York Times Reported.
According to New York Times “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 Times, “in fact, confidential records show that starting in 2010 he claimed, and received, an income tax refund totaling $72.9 million, all the federal income tax he had paid for 2005 through 2008, plus interest. The legitimacy of that refund is at the center of the audit battle that he has long been waging, out of public view, with the I.R.S”
However, Trump denied that he paid such a small amount in taxes, “I’ve paid a lot and I’ve paid a lot state income taxes too, “Trump said.
“I’m under audit, they’re doing an assessment,” he said on Sunday.
A lawyer for the Trump organisation, Alan Garten, also denied to the New York times that the president paid such a small amount of taxes. He said, “New York Times story is riddled with gross inaccuracies. Over the past decade the president has paid tens of millions of dollars in personal taxes to the federal government.”
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He added,” while we tried to explain this to the Times, they refused to listen and rejected our repeated request that they show us any of the documentation they purport to be relying on to substantiate their claims.”
