New York Times publishes tax returns to Trump, paid only $750 for one year

The paper, which says it has collected tax records for Trump and his companies for two decades, also claims it has not paid any income tax in ten out of the previous 15 years.

Data reveals chronic loss “and years of tax evasion”, the paper writes.

Trump “has paid only $750 in income tax in 2016 and 2017, while not paying any taxes in 10 out of the previous 15 years, mainly because he reported more losses than profit”, writes the New York Times.

According to the paper, Trump's reports at Internal Revenue Service “portray him as a businessman who receives hundreds of millions of dollars a year”, but who increases chronic losses to avoid paying taxes.

Trump named the report as <x0 false warning”.

I actually paid taxes. You'll see this as soon as the tax statements are back are under audit, they've been under audit for a long time”, Trump told reporters after publishing the New York Times article on Sunday.

I don't get treated well by the Internal Revenue Service. He treats me very badly”, Trump said.

A Trump Organization lawyer, Alan Garten, told the New York Times that the “most of the facts, if not all, seem to be inaccurate”.

He said President “has paid tens of millions of dollars in personal taxes to the federal government”.

Trump has faced legal challenges to refusing to share documents about his wealth and business. He is the first president since the 1970s to fail to make tax statements public, even though this is not required by law.

US President Donald Trump shortly before signing the new White House tax law

The New York Times reports that information in its report “has been provided from legal access sources to”.

The report comes just days before the first presidential debate between Trump and his Democrat rival, Joe Biden, and weeks before the 3 November elections.

Before being elected president in 2016, Trump was known as businessman and property tycoons.

Political opponents criticised him for his tax statements.

House of Representatives Chairman Nancy Pelosi, the most powerful Democrat in Washington, said the New York Times report showed Trump received extraordinary measures to play with the tax code and avoid paying off his tax share”.

In a Twitter post, Senate Minority leader Chuck Schumer asked Americans to raise their hands if they had paid more federal income taxes than President Trump.

Whether the New York Times report is true is unclear whether Trump's tax practices are illegal or not. /Rel