Michael Cohen has revealed that Donald Trump's "greatest fear" has always been that his tax returns will be released to the public – and he predicts the president could go to jail immediately for tax fraud after leaving the White House.
The former personal attorney and self-described fixer for the president, who himself was convicted of tax evasion, says the New York Times bombshell report on Trump's taxes over the past two decades is just the tip of the iceberg.
He says the "corrupt" president could face a number of other allegations if forensic accountants were to receive his returns.
"From what I know and what has now been reported, he could soon be the first sitting president to come straight to jail from the White House," he told DailyMail.com.
& # 39; Trump's biggest fear is that if his tax return is published there will be a whole host of organizations of accountants and forensic accountants breaking through and he will end up with massive tax charges, fraud penalties, fines and possibly even tax fraud.
"He's not reporting the income he claims and the IRS has probably been very lenient with how they made deductions."
Donald Trump's former personal attorney and fixer Michael Cohen says the president's "greatest fear" is that his taxes will be exposed to the public. According to Cohen, the New York Times bombing report of Trump's taxes over the past two decades is only the tip of the iceberg for the president
Cohen, convicted of tax evasion, predicts Trump will be the "first sitting President to go straight to jail from the White House".
Cohen discussed Trump's taxes in his book, Disloyal: A Memoir, and revealed that the president once received a tax refund check from the IRS for $ 10 million.
He wrote of Trump's tax evasion on page 94 of the book: “Conversely, as you will see on later pages, with potential criminal ramifications for paying taxes – an obligation Trump did not minimize or avoided, but rather quite Security illegally bypassed – the same properties would be viewed as essentially worthless, or better yet, subject to huge capital losses that it could then pull away.
Cohen discussed Trump's taxes in his book, Disloyal: A Memoir, and revealed that the president once received a tax refund check from the IRS for $ 10 million
I remember sitting in Trump's office on the 26th floor when a tax refund check for $ 10 million came in from the government. He held up the check for me to see, amazed but also delighted.
"Can you believe how stupid the IRS is?" Asked Trump. “Who would give me a $ 10 million refund? You are so stupid! & # 39; & # 39;
Cohen says he paid $ 6 million in taxes to the IRS over the same period, but is the one who ended up in jail.
The former attorney is now planning a special episode of his Mea Culpa podcast, which will look at the alleged financial crimes and corruption of Donald Trump.
He added, "Everything I've said about Donald Trump has been proven 100% true."
The New York Times reported Sunday that the president paid just $ 750 in federal income taxes in both 2016 and 2017.
And documents show that in 11 of the 18 years examined, the president paid no income tax at all, according to a report in the newspaper.
He has been able to minimize his tax burden by reporting heavy losses in his business empire, including on his golf courses.
This is despite receiving $ 427.4 million through 2018 from its reality television programming and other advertising deals.
The investigation even found tax deductions on expenses, including $ 70,000 for styling Trump's hair for The Apprentice.
The president could also face increasing financial pressures in the coming years.
Tax records indicate that he has total loans and debts of $ 421 million, mostly due within four years.
When Trump replied to the report on Sunday evening, he told reporters, “It is completely false news. Invented. Totally wrong news. & # 39;
Michael Cohen tweeted an excerpt from his book writing about Trump calling the IRS "stupid".
Cohen has regularly raised the alarm about Trump's taxes, which led to an investigation by the New York attorney general that is ongoing
The president, who ran for office as a billionaire and successful businessman, said he paid taxes despite not providing details.
His lawyer later told the press that Trump had personally paid millions of dollars in taxes over the years.
Cohen is now planning a special episode of his Mea Culpa podcast, which will look at the alleged financial crimes and corruption of Donald Trump
Cohen has regularly raised the alarm about Trump's taxes, which led to an investigation by the New York attorney general that is still ongoing.
On December 12, 2018, Cohen himself was sentenced to three years in prison and fined $ 50,000 after pleading guilty of tax evasion and campaign funding violations.
He was released in early May this year on concerns about COVID-19 to serve the remainder of his sentence under house arrest.
Cohen has since voiced his contempt for Trump, whom he blames for his fall from grace.
54-year-old Cohen started his podcast immediately after his book "Disloyal: A Memoir," which hit # 1 on the New York Times bestseller list last week.
Staunch Trump's critics, Rosie O & # 39; Donnell, former White House communications director, Anthony Scaramucci and Trump's sacked advisor Omarosa Manigault Newman, have appeared on his show, which runs in partnership between Audio Up Media and MeidasTouch.
Michael Cohen's Mea Culpa airs every Monday and is available for download.
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