Iran Press/ America: In both the year he won the presidency and his first year in the White House, Trump paid just $750 in federal income taxes, the Times reported.
Detailing payments gleaned from more than two decades of tax information, the Times report outlines extensive financial losses and years of tax avoidance that deal a blow to the business-tycoon brand Trump has built his political career on.
At a White House briefing Sunday, Trump denied the New York Times story and claimed that he pays "a lot" in federal income taxes.
"I pay a lot, and I pay a lot in state income taxes," he said.
According to the newspaper, Trump used the $427.4 million he was paid for "The Apprentice" to fund his other businesses, mostly his golf courses, and was putting more cash into his businesses than he was taking out.
The tax information obtained by the Times also reveals Trump has been fighting the IRS for years over whether losses he claimed should have resulted in a nearly $73 million refund.
Trump's taxes have been largely a mystery since he first ran for office.
During the 2016 campaign, the then-candidate broke with presidential election norms and refused to produce his tax returns for public review. They have remained private since he took office.
In 2016, Trump released a letter from his tax attorneys that confirmed he was under audit. But the letter also said the IRS finished reviewing Trump's taxes from 2002 through 2008. Trump did not release his tax returns from those years, even though the audits were over.
A previous New York Times investigation published in 2018 reported that Trump had helped "his parents dodge taxes" in the 1990s, including "instances of outright fraud" that allowed him to amass a fortune from them
Trump received at least $413 million in today's dollars from his father's real estate empire, starting at the age of 3.
The President has collected an additional $5 million a year at Mar-a-Lago since 2015 from new members. A roofing material manufacturer GAF spent at least $1.5 million in 2018 at Trump's Doral golf course near Miami while its industry was lobbying the government to roll back federal regulations, according to the Times.
It also found that Billy Graham Evangelistic Association paid more than $397,000 to Trump's Washington, DC, hotel in 2017.
The newspaper reported that in Trump's first two years in office, he has collected $73 million in revenue overseas, with much of that coming from his golf courses but some coming from licensing deals in countries, including the Philippines, India and Turkey.
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