News

Trump Paid No Federal Income Taxes In 2020 & Just $750 In ’17 & ’16

Former President Donald Trump nothing in federal income taxes during his final year in the White House, according to the Joint Committee on Taxation.

Newly released documents show that though Trump reported making tens of millions of dollars per year, he was able to avoid paying taxes by claiming large business losses and decreasing the taxable amount made. In 2015, Trump reported $105 million in losses. The following three years saw $73 million, $45 million and $23 million in claimed losses.

In 2016 and 2017, Trump paid just $750 in federal taxes. In 2018, he didn’t pay anything.

Though the JTC did not verify the numbers Trump reported, it did condemn the Internal Revenue Service for not being more thorough in the examination of Trump’s filings in what should be an automatic review of the president’s returns. The IRS, however, did not audit Trump until he had been in the White House for more than two years. Even then the audit was incomplete.

Subscribe to our free weekly newsletter!

A week of political news in your in-box.
We find the news you need to know, so you don't have to.

Trump became the first president in the modern era to choose to keep his tax statements private. He claimed it was because the IRS kept auditing him.

Ways and Means Committee chairman Richard Neal led an investigation lasting just under four years to obtain Trump’s tax returns and was aided last month by the Supreme Court which blocked Trump’s final attempt to keep them private.

This adds to the controversy surrounding Trump who is already the subject of multiple investigations including allegedly working to overturn the 2020 election results in Georgia, illegally taking classified White House documents to his home in Mar-a-Lago following his time as president and for his role in possibly inciting the January 6, 2021, Capitol riots. The Trump Organization was also found guilty of tax fraud earlier this month.

The filings are expected to be released in the near future after Trump’s personal information is removed.

Rose Carter

Share
Published by
Rose Carter

Recent Posts

Democrats Boycott Hearing On Biden’s Alleged ‘Mental Decline’ During Presidency, Chaired By 91-Year-Old GOP Sen. Chuck Grassley

Only two Democrats attended a congressional hearing about former President Joe Biden's alleged mental decline…

11 hours ago

Initial Report On U.S. Bombing Of Iranian Nuclear Sites Contradicts Trump’s Claim That Iran’s Nuclear Program Was ‘Obliterated’

An initial classified report on the United States’ bombing of three Iranian nuclear sites stated…

11 hours ago

Democratic Socialist Zohran Mamdani, 33, Shocks Establishment Beating Ex-Gov. Andrew Cuomo In NYC Mayoral Primary

With former New York Gov. Andrew Cuomo conceding in the Democratic primary for New York…

14 hours ago

Trump Administration To ‘Aggressively Revoke’ Visas From 277,000 Chinese Students Studying In U.S.

The Trump Administration is looking to "aggressively revoke" visas for Chinese students, Secretary of State…

15 hours ago

GOP Sen. Rand Paul Calls Out ‘Petty’ White House For Disinviting Him To Picnic: ‘The Level Of Immaturity Is Beyond Words’

Sen. Rand Paul (R-Kentucky) called out White House staff members for rescinding his picnic invitation…

16 hours ago

Trump’s ‘Doomsday Plane,’ Able To Survive A Nuclear Attack, Takes Mysterious Flight Amid Tensions With Iran

President Donald Trump's 'Doomsday plane' was seen taking an uncommon flight from Louisiana to Maryland…

1 day ago