BREAKING: Trump's tax return shows that in the year he won the presidency, he paid $ 750 in federal income tax, reported no income tax, and reported huge business losses for 10 years
- The president reportedly reported losing more money than he earned
- Trump previously blew up the longstanding search for his financial records as "the continuation of the most disgusting witch hunt in our country's history".
- He is the only modern day president who refused to publish his tax returns
Donald Trump's tax return reveals he paid just $ 750 in federal income tax the year he won the presidency and $ 750 in the first year of his tenure.
According to a New York Times report, the president has paid no income tax in 10 of the past 15 years.
He is said to have reported losing more money than he earned.
Trump previously blew up the longstanding search for his financial records as "the continuation of the most disgusting witch hunt in our country's history".
The businessman is the only modern day president who has refused to publish his tax returns. Before he was elected, he had promised to do so.
The data received from The Times does not include his personal returns for 2018 and 2019.
Donald Trump's tax return reveals that he paid just $ 750 in federal income taxes the year he won the presidency and $ 750 in the first year of his tenure
A federal appeals court checked the water for a possible compromise but did not immediately rule Friday after arguments in Trump's long-running battle to prevent a top New York prosecutor from getting his tax returns.
Trump's attorney William Consovoy signaled that they will only be satisfied if Manhattan District Attorney Cyrus Vance Jr. cannot get all of the requested documentation.
His lawyers claim that the eight-year subpoena to file the President's corporate income tax return is a "fishing expedition" and that Trump should be given the same protection as ordinary citizens in the same situation.
They argued that Vance's office not only confirmed an investigation into the money paid to two women who allegedly did business with Trump, it also failed to specify why it needed such a large collection of its financial records.
Vance, a Democrat, began collecting the Republican president's tax return from his longtime accounting firm over a year ago after Trump's former personal attorney Michael Cohen told Congress that the president had misled tax officials, insurers, and business associates about the value of his assets guided.