Trump nominates Amy Coney Barrett for Supreme Court
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The President of the United States of America (USA) Donald Trump paid just $750 in federal income taxes in 2016 and 2017, revealed a report on Monday. The year he won the presidential election.
According to the report, the US President paid no income taxes at all in 10 of the previous 15 years.
The report tabulated the tax returns relating to President Trump and the companies owned by the Trump Organization going back to the 1990s, as well as his personal returns for 2016 and 2017.
The report revealed that Donald Trump paid no taxes mostly because he reported losing much more money than he made.
The report contained information that Donald Trump disclosed to the US government’s Internal Revenue Service and were not findings of any independent inquiry.
According to the report, Donald Trump may also face a hit of more than $100 million if he lost 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.
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