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Trump ‘paid just $750 in federal income taxes the first year he was in the White House,’ tax papers reportedly show

TRUMP ‘TAX BOMBSHELL’

DONALD Trump allegedly paid just $750 in federal income taxes the first year he was in the White House, tax papers reportedly show.

The president has also allegedly paid no income taxes at all in the past 10 years, according to the New York Times.

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The reason he did not may the taxes in the majority of the 15 years is due to reporting losing more money than he had made.

Trump has previously fought to keep his tax returns private, with the president telling the Associated Press in 2015 that "there's nothing to learn from them."

The documents were obtained by the Times and cover over 20 years of data on Trump's finances.

A lawyer for the Trump organization, Alan Garten, told the Times: "Over the past decade, President Trump 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 outlet reported that the filings offer a "distorted picture" into the president's finances. An example being in 2018 when Trump disclosed that he made $434.9million, when the tax records said he had $47.4million in losses.

Trump also reported paying taxes overseas in 2017 - however, these were drastically higher than the alleged $750 US contribution.

Trump or his companies paid $15,598 in Panama, $145,400 in India and $156,824 in the Philippines, the Times reported.

More to follow...

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