How Trump brazenly took tax losses he knew were fraudulent
2 years ago

How Trump brazenly took tax losses he knew were fraudulent

Raw Story  

Donald Trump knowingly committed dozens of brazen tax frauds during the six years when he ran for office and was President, my analysis of the Congressional report on his tax returns and other documents shows. Despite this huge revenue stream, Trump reported minus $53.2 million in Adjusted Gross Income, the last number on the front page of your Form 1040 income tax return. Other Tax Schemes The Congressional report raises questions about numerous other tax deductions Trump took, including charitable deductions that may be bogus or overstated; treating personal expenses as business expenses; loans to his three older children that may be to escape gift taxes; and reporting almost $5 million of capital contributions as tax-deductible business expenses. Should our Justice Department or the Manhattan District Attorney’s office ask grand juries to indict Trump for tax crimes, the losses on supposed businesses with no income would be easy for jurors to understand.

Expenses Trump Report Congressional Income Taxes Schedule C Took Tax  brazenly  schedule  income  taxes  took  tax  report  losses  technique  fraudulent  returns  trump  expenses  million  knew

History of this topic

Latest 'bad financial news for Trump' could cause ex-president 'tremendous damage'
7 months, 3 weeks ago

Latest 'bad financial news for Trump' could cause ex-president 'tremendous damage'

Raw Story  

If Donald Trump ends up on the losing end of a recently reported tax scandal, the former president could be on the hook for $100 million, which would reportedly be financially devastating for the Republican presidential candidate. Trump biographer David Cay Johnston, who has covered Trump's taxes and financial matters for years, appeared on MSNBC on Saturday, where he was …

Donald Trump may face a $100 million-plus tax bill if he loses IRS audit fight over Chicago tower: report
8 months ago

Donald Trump may face a $100 million-plus tax bill if he loses IRS audit fight over Chicago tower: report

The Hindu  

Former U.S. president Donald Trump may face an IRS bill in excess of $100 million after a government audit indicates he double-dipped on tax losses tied to a Chicago skyscraper, according to a report by The New York Times and ProPublica that drew on a yearslong audit and public filings. Mr. Trump’s presidential campaign provided a statement in son Eric …

Report: Trump may face a $100 million-plus tax bill if he loses IRS audit fight over Chicago tower
8 months ago

Report: Trump may face a $100 million-plus tax bill if he loses IRS audit fight over Chicago tower

Associated Press  

WASHINGTON — Former President Donald Trump may face an IRS bill in excess of $100 million after a government audit indicates he double-dipped on tax losses tied to a Chicago skyscraper, according to a report by The New York Times and ProPublica that drew on a yearslong audit and public filings. Trump’s presidential campaign provided a statement in son Eric …

Trump tried to ‘corrupt’ the 2016 election, prosecutor alleges as hush money trial gets underway
8 months, 3 weeks ago

Trump tried to ‘corrupt’ the 2016 election, prosecutor alleges as hush money trial gets underway

LA Times  

Former President Trump attends jury selection in his hush money case in New York last week. Donald Trump tried to illegally influence the 2016 presidential election by preventing damaging stories about his personal life from becoming public, a prosecutor told jurors Monday at the start of the former president’s historic hush money trial. “At Trump’s direction, Cohen negotiated a deal …

Criminal tax evasion complaint filed as Trump heads back to court
8 months, 4 weeks ago

Criminal tax evasion complaint filed as Trump heads back to court

Raw Story  

As Donald Trump heads back to a Manhattan courtroom where he is facing 34 felony counts related to allegedly paying off an adult film star before the 2016 presidential election, a new possible criminal investigation into income tax evasion is rearing its head. In late January, the Daily Beast reported on a "bombshell" report from retired judge Barbara Jones who …

'Bring a case': Trump's biographer says ex-president's taxes warrant a new criminal charge
9 months, 4 weeks ago

'Bring a case': Trump's biographer says ex-president's taxes warrant a new criminal charge

Raw Story  

Former president Donald J. Trump could face yet another criminal prosecution if his biographer has anything to say about it. Trump biographer David Cay Johnston, who has covered Trump's taxes and financial matters for years, appeared on MSNBC's Alex Witt Reports Sunday. "There's statutes of limitations for criminal prosecution of taxes, but one of the things we know from the …

Ex-IRS contractor gets five years in prison for leak of tax return information of Trump, rich people
11 months, 2 weeks ago

Ex-IRS contractor gets five years in prison for leak of tax return information of Trump, rich people

Associated Press  

WASHINGTON — A former contractor for the Internal Revenue Service who pleaded guilty to leaking tax information to news outlets about former President Donald Trump and thousands of the country’s wealthiest people was sentenced to five years in prison Monday. Charles Edward Littlejohn, 38, of Washington, D.C., gave data to The New York Times and ProPublica between 2018 and 2020 …

'Bombshell' report raises questions about new possible Trump tax evasion: experts
11 months, 2 weeks ago

'Bombshell' report raises questions about new possible Trump tax evasion: experts

Raw Story  

According to a report from the Daily Beast's Roger Sollenberger, a "bombshell" footnote in documents filed by the special monitor appointed by the court in the $370 million Donald Trump financial fraud trial is raising questions about a $50 million Trump loan that may or may not exist. According to the report, former federal judge Barbara Jones included a "major …

Ex-IRS contractor pleads guilty in leak of tax return information of Trump, wealthy people
1 year, 3 months ago

Ex-IRS contractor pleads guilty in leak of tax return information of Trump, wealthy people

Associated Press  

WASHINGTON — A former contractor for the Internal Revenue Service charged with leaking tax information to news outlets about former President Donald Trump and thousands of the country’s wealthiest people pleaded guilty to a federal charge Thursday in an agreement with prosecutors. The Justice Department charged Charles Edward Littlejohn, 38, of Washington, D.C., with stealing tax return information and giving …

Donald Trump faces over $100 million fraud accusation in New York trial
1 year, 3 months ago

Donald Trump faces over $100 million fraud accusation in New York trial

Hindustan Times  

A defiant Donald Trump attacked New York's attorney general and the judge overseeing his civil fraud trial as it began on Monday, with a state lawyer accusing the former president of generating more than $100 million by lying about his real estate empire. Trump told reporters before the trial began that the case was a "scam," a "sham" and a …

Trump inflated net worth up to $2.2 billion per year from 2011 to 2021, say prosecutors
1 year, 4 months ago

Trump inflated net worth up to $2.2 billion per year from 2011 to 2021, say prosecutors

Firstpost  

In documents filed in support of an ongoing $250 million civil suit against the ex-president, state Attorney General Letitia James claimed Trump and some of his aides submitted “grossly inflated” numbers to banks and insurers “to secure and maintain loans and insurance on more favorable terms” Donald Trump routinely overvalued his net worth by billions of dollars each year between …

The election-meddling indictment against Trump is sprawling. Here’s a breakdown of the case
1 year, 5 months ago

The election-meddling indictment against Trump is sprawling. Here’s a breakdown of the case

Associated Press  

Donald Trump for years has promoted baseless claims that the 2020 election was stolen from him. The Justice Department indictment accuses Trump of brazenly conspiring with allies to spread falsehoods and concoct schemes intended to overturn his election loss to President Joe Biden as his legal challenges floundered in court. As Jan. 6 approached, Trump and his allies pressured Vice …

Read it: What Trump's four-count indictment alleges
1 year, 5 months ago

Read it: What Trump's four-count indictment alleges

Raw Story  

Donald Trump has been indicted on four counts in connection with efforts to overturn the 2020 election, the Department of Justice confirmed Tuesday. The former president was hit with counts of conspiracy to defraud the United States "by using dishonesty, fraud and deceit to obstruct the nation’s process of collecting, counting, and certifying the results of the presidential election"; conspiracy …

Trump charged with 4 felony counts for attempt to overturn the 2020 election
1 year, 5 months ago

Trump charged with 4 felony counts for attempt to overturn the 2020 election

NPR  

Trump charged with 4 felony counts for attempt to overturn the 2020 election Enlarge this image toggle caption Jacquelyn Martin/AP Jacquelyn Martin/AP Former President Donald Trump was indicted Tuesday by a federal grand jury on four counts related to efforts to overturn the results of the 2020 presidential election, according to court documents. That's when protesters loyal to Trump stormed …

Donald Trump’s company fined $1.6m for years-long tax fraud scheme
2 years ago

Donald Trump’s company fined $1.6m for years-long tax fraud scheme

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors …

'Not so rich or smart': New York paper roasts Trump's tax secrets in scathing editorial
2 years ago

'Not so rich or smart': New York paper roasts Trump's tax secrets in scathing editorial

Raw Story  

An editorial written by the New York Daily News editorial board on Monday delivered a scathing rebuke to former President Donald Trump over his recently released tax returns, which the editors argued should dispel any remaining notion that he is a business genius. In fact, the editors argued that Trump's taxes showed that he was "not so rich or so …

'Final nail in his coffin': Trump's taxes contain 'powerful evidence of criminal tax evasion'
2 years ago

'Final nail in his coffin': Trump's taxes contain 'powerful evidence of criminal tax evasion'

Raw Story  

In a column for the Daily Beast, longtime investigative journalist and Donald Trump biographer David Cay Johnston made the case that there is enough evidence of financial fraud in the former president's tax returns from 2015 to 2020 to indict and prosecute him. According to Johnston, the author of "The Big Cheat: How Donald Trump Fleeced America and Enriched Himself …

Trump’s returns shed light on tax offsets, foreign accounts
2 years ago

Trump’s returns shed light on tax offsets, foreign accounts

Associated Press  

Democrats in Congress released thousands of pages of former President Donald Trump’s tax returns Friday, providing the most detailed picture to date of his finances over a six-year period, including his time in the White House, when he fought to keep the information private in a break with decades of precedent. Jeff Hoopes, an accounting professor at the University of …

By the numbers: How much Donald Trump paid in taxes each year from 2015 to 2020
2 years ago

By the numbers: How much Donald Trump paid in taxes each year from 2015 to 2020

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The House Ways & Means Committee released six years of …

Donald Trump paid $0 tax in 2020: Will he be punished?
2 years ago

Donald Trump paid $0 tax in 2020: Will he be punished?

Firstpost  

Donald Trump’s tax returns have finally been made public and initial revelations show that the former US president paid $1.1 million in 2018 and 2019, but nothing in 2020. A look at the data shows that in 2015, Donald and wife Melania Trump declared negative income of $31.7 million and paid federal income taxes of $641,931. In Trump’s last year …

EXPLAINER: What’s the debate over releasing Trump’s taxes?
2 years ago

EXPLAINER: What’s the debate over releasing Trump’s taxes?

Associated Press  

WASHINGTON — The Democratic-controlled House Ways and Means Committee on Tuesday voted to release former President Donald Trump’s tax returns, raising the potential of additional revelations in the coming days related to the finances of the longtime businessman who broke political norms by refusing to voluntarily make public his returns as he sought the presidency. That date coincides with when …

Donald Trump paid no income tax in 2020, reported losses in office, records show
2 years ago

Donald Trump paid no income tax in 2020, reported losses in office, records show

ABC  

Donald Trump paid no income tax during the final full year of his presidency as he reported a loss from his sprawling business interests, according to tax figures released by a congressional panel. Key points: The committee questioned the legitimacy of some of Mr Trump's deductions The panel is expected to release redacted versions of his full returns in coming …

Calls for investigation after Trump tax returns expose 'audit' lie — and years of 'negative income'
2 years ago

Calls for investigation after Trump tax returns expose 'audit' lie — and years of 'negative income'

Raw Story  

The House Ways and Means Committee on Tuesday voted to release years of former President Donald Trump's tax returns and revealed that the IRS did not perform mandatory audits during his first two years in office. The panel voted to release Trump's tax returns from his years in office after winning a yearslong court battle to obtain them even though …

Trump and the IRS: A massive tax cheat and a hapless, corrupt agency
2 years ago

Trump and the IRS: A massive tax cheat and a hapless, corrupt agency

Raw Story  

Back in February of 2019, then-President Donald Trump's former attorney, Michael Cohen, testified before the House Oversight Committee that his former employer had once shown him a big refund from the IRS and told him "he could not believe how stupid the government was for giving someone like him that much money back." On Tuesday the House Ways and Means …

Donald Trump's tax returns to be released to public
2 years ago

Donald Trump's tax returns to be released to public

The Telegraph  

US legislators have voted to make public Donald Trump's tax returns, ending a years-long battle by the former president to keep the filings private as his cloudy financial past continues to stoke controversy. Mr Trump's family business was convicted of tax fraud earlier this month, in a case Manhattan District Attorney Alvin Bragg said was "about greed and cheating." "Democrats …

Trump Organization convicted in executive tax dodge scheme
2 years, 1 month ago

Trump Organization convicted in executive tax dodge scheme

LA Times  

Former President Trump’s company was convicted of tax fraud in New York on Dec. 6, 2022. Politics Trump knew about his company executives’ tax fraud scheme, prosecutor says Manhattan prosecutor challenges defense claims that former President Trump was unaware of the plot at the heart of the tax fraud case against the Trump Organization. The Manhattan district attorney’s case against …

US jury begins deliberating in Trump Organization tax fraud trial
2 years, 1 month ago

US jury begins deliberating in Trump Organization tax fraud trial

Al Jazeera  

Jurors consider verdict after trial in which ex-president’s real estate company accused of years-long scheme. United States jurors in the Trump Organization’s tax fraud trial have started deliberating after four weeks of testimony and arguments about executive pay practices at Donald Trump’s real estate company that prosecutors say amounted to a years-long criminal scheme. It was part of an effort …

Prosecutor: Evidence shows Trump ‘explicitly’ OK’d tax fraud
2 years, 1 month ago

Prosecutor: Evidence shows Trump ‘explicitly’ OK’d tax fraud

Associated Press  

NEW YORK — In the end, it wasn’t a last-minute smoking gun but a prosecutor insisting that evidence shows Donald Trump was aware of a scheme that his Trump Organization’s executives hatched to avoid paying personal income taxes on millions of dollars worth of company-paid perks. After telling jurors on Thursday that Trump “knew exactly what was going on” with …

Trump Organization, CFO indicted on tax fraud charges
3 years, 6 months ago

Trump Organization, CFO indicted on tax fraud charges

Associated Press  

NEW YORK — Donald Trump’s company and its longtime finance chief were charged Thursday in what prosecutors called a “sweeping and audacious” tax fraud scheme in which the executive collected more than $1.7 million in off-the-books compensation, including apartment rent, car payments and school tuition. In a statement, Trump condemned the case as a “political Witch Hunt by the Radical …

What NY prosecutors could learn from Trump’s tax records
3 years, 10 months ago

What NY prosecutors could learn from Trump’s tax records

Associated Press  

NEW YORK — Manhattan District Attorney Cyrus R. Vance Jr. fought for a year and a half to get access to former President Donald Trump’s tax records. Here is a look at where the tax records might be helpful, and where they might not help much, in the district attorney’s investigation: ___ MORE THAN JUST RETURNS Trump went to extraordinary …

Trump’s actions in last days as President increase his legal jeopardy
4 years ago

Trump’s actions in last days as President increase his legal jeopardy

CNN  

CNN — President Donald Trump’s actions during his final days in office have significantly increased his exposure to potential criminal prosecution, lawyers say, complicating his life after the White House. The new possible criminal exposure comes on top of ongoing New York state investigations into the President’s finances and multiple defamation lawsuits related to Trump denying sexual assault accusations by …

Op-Ed: Two tax systems. One for the likes of Trump
4 years, 3 months ago

Op-Ed: Two tax systems. One for the likes of Trump

LA Times  

In the last decade, Congress has cut the Internal Revenue Service’s total staffing by more than 20%, which has resulted in less enforcement of tax fraud cases. Most Americans were outraged to learn that President Trump paid $750 in federal income taxes in 2016 and 2017, according to an examination of Trump’s tax returns by the New York Times. Trump …

What President Trump's Tax Returns Reveal About The Tax Code : 1A
4 years, 3 months ago

What President Trump's Tax Returns Reveal About The Tax Code : 1A

NPR  

What President Trump's Tax Returns Reveal About The Tax Code Enlarge this image toggle caption BRENDAN SMIALOWSKI/BRENDAN SMIALOWSKI/AFP via Getty Images BRENDAN SMIALOWSKI/BRENDAN SMIALOWSKI/AFP via Getty Images This week, a report from The New York Times revealed that Donald Trump paid $750 in federal income taxes in 2016 and 2017. In the presidential debate, he responded to a question about …

Trump paying $750 in income tax shows why he’s a billionaire
4 years, 3 months ago

Trump paying $750 in income tax shows why he’s a billionaire

Live Mint  

A New York Times story based on Donald Trump’s long-sought-after tax data shows he avoided paying income taxes for most of the past two decades and paid only $750 the year he was elected president. Trump’s office properties include commercial spaces at Trump Tower, a leasehold on 40 Wall Street in downtown Manhattan and a 30% interest in two office …

'Financial knucklehead' Trump owes the public six key answers on his tax schemes: columnist
4 years, 3 months ago

'Financial knucklehead' Trump owes the public six key answers on his tax schemes: columnist

Raw Story  

On Monday, writing for The Daily Beast, columnist Martin Sheil outlined six of the critical questions raised by the New York Timesbombshell report about President Donald Trump's tax returns. "The financial predicament that the Times outlines in regard to financial knucklehead Trump is only one of many questions that require some serious answers as the presidential election nears," wrote Sheil. …

'Fake News': Trump Rejects Report That Says He Paid Just $750 in Income Taxes in 2016
4 years, 3 months ago

'Fake News': Trump Rejects Report That Says He Paid Just $750 in Income Taxes in 2016

News 18  

In an oblique reference to the New York Times report that said he paid just $750 in federal income taxes in 2016, US President Donald Trump on Monday dismissed as fake news the allegations made by the publication. FAKE NEWS!— Donald J. Trump September 28, 2020 Earlier on Sunday, Trump had told journalists after the publication put out multiple allegations …

Donald Trump's taxes show chronic losses and many years of income tax avoidance
4 years, 3 months ago

Donald Trump's taxes show chronic losses and many years of income tax avoidance

Firstpost  

One Trump enterprise that has been regularly profitable and is a persistent source of concern about ethical conflicts and national security lapses, is the Mar-a-Lago club Donald Trump paid $750 in federal income taxes the year he won the presidency. During the Great Recession bailout, he asked for the money back Testifying before Congress in February 2019, the president’s estranged …

Fake News: Says Trump on reports of paying $750 income taxes in 2016, 2017
4 years, 3 months ago

Fake News: Says Trump on reports of paying $750 income taxes in 2016, 2017

India TV News  

Donald Trump paid just USD 750 in federal income taxes in the year he was elected US president and also in his first year in the White House, according to a media report, which also said that he or his companies paid USD 145,400 taxes in India in 2017. "Donald J Trump paid USD 750 in federal income taxes the …

5 takeaways from NY Times report on Trump's tax returns
4 years, 3 months ago

5 takeaways from NY Times report on Trump's tax returns

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A New York Times report that President Donald Trump paid …

5 takeaways from NY Times report on Trump’s tax returns
4 years, 3 months ago

5 takeaways from NY Times report on Trump’s tax returns

Associated Press  

WASHINGTON — A New York Times report that President Donald Trump paid just $750 in federal income tax the year he entered the White House — and, thanks to colossal losses, no income tax at all in 11 of the 18 years that the Times reviewed — served to raise doubts about Trump’s self-image as a shrewd and successful businessman. …

Status Of Trump's Tax Cases
4 years, 3 months ago

Status Of Trump's Tax Cases

NPR  

Status Of Trump's Tax Cases A bombshell report from The New York Times comes as the president continues to fight in court against efforts by state investigators and Congress to gain access to his financial records. TONYA MOSLEY, HOST: That New York Times report this weekend had some stunning revelations about the president's taxes, including that he paid just $750 …

5 takeaways from the New York Times report on Trump’s tax returns
4 years, 3 months ago

5 takeaways from the New York Times report on Trump’s tax returns

LA Times  

A blockbuster New York Times report that President Trump paid just $750 in federal income tax the year he entered the White House — and, thanks to colossal losses, no income tax at all in 11 of the 18 years that the Times reviewed — serves to raise doubts about Trump’s self-image as a shrewd and successful businessman. Eugene Steuerle, …

Forget "The Apprentice" — Trump's taxes show he was really "The Biggest Loser"
4 years, 3 months ago

Forget "The Apprentice" — Trump's taxes show he was really "The Biggest Loser"

Salon  

Donald Trump's seemingly immovable approval numbers are a testament, above all other things, to the power of racism, and the way that 40 to 42% of Americans will stand by their man, no matter how bad things get, so long as he keeps hating the same people they hate. As the Times reports, Trump's work on "The Apprentice," for which …

Trump Blasts Bombshell Report On His $750 U.S. Tax Bills As 'Fake News'
4 years, 3 months ago

Trump Blasts Bombshell Report On His $750 U.S. Tax Bills As 'Fake News'

Huff Post  

LOADING ERROR LOADING President Donald Trump slammed The New York Times’ shocking report Sunday that he paid just $750 in federal income taxes in both 2016 and 2017 as “fake news.” “It’s fake news, totally fake news, made up,” he said at a White House news conference when asked about the detailed investigative report on his tax records. pic.twitter.com/be15BS005Z — …

Trump paid just $750 in federal income tax in 2016, says media report
4 years, 3 months ago

Trump paid just $750 in federal income tax in 2016, says media report

The Hindu  

President Donald Trump paid extremely little in income taxes in recent years as heavy losses from his business enterprises offset hundreds of millions of dollars in income, the New York Times reported on Sunday, citing tax-return data. The Times reported that Mr. Trump, who is seeking re-election in November, paid just $750 in federal income taxes in both 2016 and …

REVEALED: Trump's taxes show huge losses and tax dodging schemes
4 years, 3 months ago

REVEALED: Trump's taxes show huge losses and tax dodging schemes

Raw Story  

The New York Times has President Donald Trump's taxes and they're exactly what biographers and experts have been claiming for years. Documents show Trump only paid $750 in federal income taxes in 2016, despite being a self-described billionaire He also only turned over $750 to the IRS after his first year in the White House. To make matters worse, Trump …

Trump Dismisses 'New York Times' Report That He Paid Little In Federal Income Taxes
4 years, 3 months ago

Trump Dismisses 'New York Times' Report That He Paid Little In Federal Income Taxes

NPR  

Trump Dismisses 'New York Times' Report That He Paid Little In Federal Income Taxes Enlarge this image toggle caption Joshua Roberts/Getty Images Joshua Roberts/Getty Images Updated at 8:40 p.m. ET A New York Times investigation published on Sunday said that President Trump paid just $750 in federal income taxes each year in 2016 and 2017, which the president denied at …

Court shields Trump tax returns, likely until after election
4 years, 4 months ago

Court shields Trump tax returns, likely until after election

Associated Press  

NEW YORK — A federal appeals court Tuesday granted President Donald Trump a temporary reprieve in the long-running fight over his tax returns, barring Manhattan’s top prosecutor from getting the records while Trump’s lawyers embark on another bid to overturn the subpoena seeking them. Trump’s lawyers argued that a stay keeping the tax returns under wraps will protect him from …

Prosecutor seeking Trump’s taxes cites probe of his business
4 years, 5 months ago

Prosecutor seeking Trump’s taxes cites probe of his business

Associated Press  

NEW YORK — A New York City prosecutor fighting to get President Donald Trump’s tax returns told a judge Monday he was justified in demanding them because of public reports of “extensive and protracted criminal conduct at the Trump Organization.” Manhattan District Attorney Cyrus R. Vance, Jr. is seeking eight years of the Republican president’s personal and corporate tax records, …

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