US President Donald Trump paid just $750 as federal income tax in the year he was elected president (2016) and the same amount in 2017. Prominent Newspaper The New York Times reported it. The news mentions Donald Trump didn’t pay tax returns at all in several previous years. Now Trump is contesting for the second time, the issue of his tax payments has once again been raised.
The US newspaper reported that Trump had paid just $750 for the first year of the White House. For 10 of the last 15 years, he had not paid any federal income tax. Because he was told that he had incurred a higher loss than he earned.
The New York Times reported that United States President Donald Trump had dismissed the news. He said it’s “complete fake news”.
“I’ve paid a lot, and I paid a lot in state income taxes, too,” Trump replied. “New York state charges a lot. And I’ve paid a lot of money in state.” Trump also promised to release his tax returns after his Internal Revenue Service (IRS) audit is completed – a promise he has made since he ran for the presidency in 2015, without ever releasing any information.
US President Donald Trump has not revealed his personal financial details. But from former US President Richard Nixon and others have released financial details before elections. However, Trump broke the tradition by refusing to release income tax returns.
The issue of US President Donald Trump’s tax returns was a major in the 2016 election. The issue continued during his tenure and now that Trump is contesting for the second president, the issue has again been raised.