President Donald Trump’s tax filings from 1985 to 1994 show that he had accumulated more than a billion dollars in businesses losses over the course of the decade, according to newly revealed tax information obtained Tuesday by The New York Times.
In the 10-year stretch, Trump racked up nearly $1.2 billion in core business losses, according to the Times’ analysis of the president’s federal income tax information from those years. The loss paints what the Times called a bleak picture of Trump’s businesses, which he has always touted as successful.
The news comes as the president continues to feud with House Democrats over the release of his federal tax returns from 2013 to 2018.
The newspaper noted that it did not obtain Trump’s actual tax returns, and the information it did obtain covers an earlier period of the president’s business career. The Times did get printouts from Trump’s official Internal Revenue Service tax transcripts, with his 1040 federal tax form figures, from a source who had legal access to them.
The newspaper’s analysis of the tax information includes how Trump was already deep in financial trouble in 1987 when he published his book “The Art of the Deal,” a bestseller that focused on his business career as a so-called self-made billionaire. The tax results also show that Trump appears to have lost more money during that decade than nearly any other individual taxpayer, according to the Times.
Notably, the investigation reveals that the president did not pay federal income taxes for eight out of the 10 years analyzed.
Trump’s attorney Charles Harder said Saturday that the tax information was false without citing any errors, according to the Times. He reportedly told the newspaper on Tuesday that IRS transcripts “are notoriously inaccurate.”
This article has been updated with details on the Times report.
from Best News Viral http://bit.ly/2VQ9l2o
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