US President Donald Trump has found himself in a fresh controversy after a report claimed that he has paid a meagre amount or no federal income tax for many years before he became the president of the United States.
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A New York Times report claimed that Trump paid only $750 federal income taxes in 2016, the year he won the presidential election, and 2017 and not a penny of federal income taxes in 10 of the last 15 years before he became president on grounds that he lost more money than he gained.
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Trump called the allegations “totally fake news” and said he “he paid a lot of state income taxes”, adding everything will be “revealed”.
“First of all, I paid a lot and I paid a lot of state income taxes too… It’ll all be revealed,” Trump said.
The report said the US president reduced his taxes through a $72.9 million refund that gets audited by Internal Revenue audit.
It added that Trump used deductions on aircraft, residences, including $70,000 in hairstyling for TV appearances.
The report said his golf courses showed a loss of large amounts of money, and hundreds of millions of dollars in loans he took on personal guarantee will soon be due for repayment.
Democrats have sharpened their attacks on the US president with House Speaker Nancy Pelosi describing the findings as “Trump’s disdain for America’s working families.”
Massachusetts representative Richard Neal, the chair of the House Ways and Means Committee who earlier has unsuccessfully attempted knowing Trump’s tax records, said now it is more essential for his committee to access the documents.
“It appears that the President has gamed the tax code to his advantage and used legal fights to delay or avoid paying what he owes,” he said.
Source: Thanks WIONews.com