Report: Trump Could Have Avoided Paying Taxes for 18 Years
Spencer Platt/Getty Images(NEW YORK) — According to documents obtained by the New York Times, Trump declared a $916 million loss on his income tax returns from 1995, a deduction that could have allowed him to legally avoid paying federal income taxes for up to 18 years.
The Times said three documents were sent in an envelope with a postmark of New York City and reportedly had a Trump Tower return address.
A statement from the Trump campaign to ABC News did not deny that Trump didn’t pay federal taxes, but said the documents were illegally obtained and published.
“Mr. Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required,” the statement said. “That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions. Mr. Trump knows the tax code far better than anyone who has ever run for President and he is the only one that knows how to fix it.”
Hillary Clinton Press Secretary Brian Fallon tweeted a link to the Times article and said, “BOMBSHELL: Trump’s returns show just how lousy a businessman he is AND how long he may have avoided paying any taxes.”
BOMBSHELL: Trump’s returns show just how lousy a businessman he is AND how long he may have avoided paying any taxeshttps://t.co/M4SGm7eKRL
— Brian Fallon (@brianefallon) October 2, 2016
Fallon later added: “Trump arrived late to his event tonight & gave a particularly unhinged set of remarks. Clearly he was sweating this looming NYT report”
Trump’s tax returns have been a regular talking point in this election season. The Republican presidential nominee has said previously he would not release them because of a “routine audit” by the Internal Revenue Service.
During the first presidential debate Monday night, Clinton suggested Trump had not released his tax returns because it would reveal he had not paid federal taxes. Trump interjected with: “That makes me smart.”
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