President Donald Trump speaking during a news conference at the White House, Sunday, Sept. 27, 2020, in Washington. (AP Photo/Carolyn Kaster)

Trump paid $750 in US income taxes in 2016, 2017: NY Times

Trump, starting in 2010, claimed and received an income tax refund that totalled $72.9 million

President Donald Trump paid just $750 in federal income taxes the year he ran for president and in his first year in the White House, 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 no federal income taxes in 10 of the past 15 years.

The details of the tax filings complicate Trump’s description of himself as a shrewd and patriotic businessman, revealing instead a series of financial losses and income from abroad that could come into conflict with his responsibilities as president. The president’s financial disclosures indicated he earned at least $434.9 million in 2018, but the tax filings reported a $47.4 million loss.

The tax filings also illustrate how a reputed billionaire could pay little to nothing in taxes, while someone in the middle class could pay substantially more than him. Roughly half of Americans pay no income taxes, primarily because of how low their incomes are. But IRS figures indicate that the average tax filer paid roughly $12,200 in 2017, about 16 times more than what the president paid.

The disclosure, which the Times said comes from tax return data it obtained extending over two decades, comes at a pivotal moment ahead of the first presidential debate Tuesday and weeks before a divisive election against Democrat Joe Biden.

Speaking at a news conference Sunday at the White House, Trump dismissed the report as “fake news” and maintained he has paid taxes, though he gave no specifics. He also vowed that information about his taxes “will all be revealed,” but he offered no timeline for the disclosure and made similar promises during the 2016 campaign on which he never followed through.

In fact, the president has fielded court challenges against those seeking access to his returns, including the U.S. House, which is suing for access to Trump’s tax returns as part of congressional oversight.

During his first two years as president, Trump received $73 million from foreign operations, which in addition to his golf properties in Scotland and Ireland included $3 million from the Philippines, $2.3 million from India and $1 million from Turkey, among other nations. The president in 2017 paid $145,400 in taxes in India and $156,824 in the Philippines, compared to just $750 in U.S. income taxes. The Times said the tax records did not reveal any unreported connections to Russia.

Trump found multiple ways to reduce his tax bills. He has taken tax deductions on personal expenses such as housing, aircraft and $70,000 to style his hair while he filmed “The Apprentice.” Losses in the property businesses solely owned and managed by Trump appear to have offset income from his stake in “The Apprentice” and other entities with multiple owners.

During the first two years of his presidency, Trump relied on business tax credits to reduce his tax obligations. The Times said $9.7 million worth of business investment credits that were submitted after Trump requested an extension to file his taxes allowed him to offset his obligations and pay just $750 each in 2016 and 2017.

Income tax payments help finance the military and domestic programs.

Trump, starting in 2010, claimed and received an income tax refund that totalled $72.9 million, which the Times said was at the core of an ongoing audit by the IRS. The Times said a ruling against Trump could cost him $100 million or more. He also has more than $300 million in loans due to be repaid in the next four years.

ASLO READ: ‘Unfathomable’: U.S. death toll from coronavirus hits 200,000

Richard Neal, D-Mass., the chair of the House Ways and Means Committee who has tried unsuccessfully to obtain Trump’s tax records, said the Times report makes it even more essential for his committee to get the documents.

“It appears that the President has gamed the tax code to his advantage and used legal fights to delay or avoid paying what he owes,” Neal wrote in a statement. “Now, Donald Trump is the boss of the agency he considers an adversary. It is essential that the IRS’s presidential audit program remain free of interference.”

A lawyer for the Trump Organization, Alan Garten, and a spokesperson for the Trump Organization did not immediately respond to a request for comment from The Associated Press on the report.

Garten told the Times that “most, if not all, of the facts appear to be inaccurate.”

He said in a statement to the news organization that the president “has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015.”

The New York Times said it declined to provide Garten with the tax filings in order to protect its sources, but it said its sources had legal access to the records.

During his first general election debate against Democrat Hillary Clinton in 2016, Clinton said that perhaps Trump wasn’t releasing his tax returns because he had paid nothing in federal taxes.

Trump interrupted her to say, “That makes me smart.”

Josh Boak, The Associated Press


Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

Donald TrumpUSA

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

RCMP. (Phil McLachlan - Black Press Media file)
Penticton RCMP cleared of wrongdoing after man seriously injured in custody

B.C.’s police watchdog found no evidence of harm caused by police in Sept. 21 incident

Apex Mountain Resort received 35 centimetres of fresh snow over the weekend, prompting some to head out for some early season turns. (Apex Mountain Resort / Facebook)
Stay off the mountain: Apex warns of early season dangers

Recreational use of the mountain before opening day comes with serious risks

The Penticton Indian Band is opposing any hunting of local big horn sheep which are an at-risk population. (submitted photo)
Penticton Indian Band oppose big horn sheep hunts

Local big horn sheep are an at-risk population

A house on Highway 3A caught fire Sunday evening, Oct. 25, 2020.
House fire on Highway 3A in Keremeos

Neighbours acted quickly to help save home

x
Morning Start: Bubble wrap was originally intended to be wallpaper

Your morning start for Monday, Oct. 26, 2020

FILE – Provincial Health Officer Dr. Bonnie Henry provides the latest update on the COVID-19 pandemic in the province during a press conference in the press theatre at Legislature in Victoria, B.C., on Thursday, October 22, 2020. THE CANADIAN PRESS/Chad Hipolito
B.C. shatters COVID-19 records with 817 weekend cases; masks now expected indoors

Three people have died over the past three reporting periods

Salmon Arm RCMP responded to a seven-vehicle chain reaction collision early Monday morning, Oct. 26. (File photo)
One person injured in seven-vehicle chain-reaction collision in Salmon Arm

Snow packed to ice, speed contributing factors behind collisions

RCMP responded to a single-vehicle collision on Highway 1 east of Salmon Arm early Monday, Oct. 26, 2020. (File photo)
Salmon Arm man killed in collision on Highway 1

RCMP say slippery road conditions contributing factor behind collision

Jordan Naterer, 25, was last seen Saturday Oct. 10. He planned a hike in the Manning Park area, and has not been seen since. Photo Facebook.
Parents not giving up, after official search for Manning Park hiker suspended again

‘We are determined, but eventually the money is going to run out.’

RCMP have released more details regarding what led up to an arrest caught on video in Williams Lake Sunday, Oct. 26. (Facebook video screenshot)
Review launched after ‘high-risk, multi-jurisdictional’ chase, arrest in Williams Lake

RCMP launching a full review and code of conduct investigation

(Pxfuel)
B.C. limits events in private homes to household, plus ‘safe six’ amid COVID-19 surge

Henry issued a public health order limiting private gatherings to one household, plus a group of ‘safe six’ only

B.C. Liberal Leader Andrew Wilkinson speaks during a drive-in car rally campaign stop at a tour bus operator, in Delta, Saturday, Oct. 17, 2020. THE CANADIAN PRESS/Darryl Dyck
Andrew Wilkinson stepping down as B.C. Liberal leader

Will stay on until the next party leader is chosen

VicPD and B.C. Conservation Officer Service teamed up to free two bucks who were entangled in a fishing net and dragging a wheelbarrow sized piece of driftwood behind them. (VicPD)
VIDEO: Police, B.C. Conservation help two bucks caught in one fishing net

Bucks were also dragging a wheelbarrow sized piece of driftwood behind them

Friends and family of Sonya Riome, 35, are confirming she died in the fire. (Submitted)
Woman dies in weekend Revelstoke house fire

The fire gutted the property

Most Read