According to a new report by The New York Times, President Donald Trump did not pay income tax for 10 out of 15 years in the run-up to 2016.
The Times reports that the year Trump won the presidency, he paid $750 in income tax.
The reports comes after the Times obtained some of the most sought over documents in media circles: his tax return information stretching back two decades.
The report also says Trump says that the president owns hundreds of millions of dollars of assets — but does not disclose his true wealth. Additionally, the Times reports that the documents did not disclose any previously unknown connection to Russia.
It also said that the Trump Organization is facing severe financial hardships.
In a statement to the paper, Alan Garten, a lawyer for the Trump Organization, said, “Most, if not all, of the facts appear to be inaccurate.”
The Times also said Garten asked to see the documents the report was based on. However, the paper withheld the actual documents to protect its sources.
In a statement, Garten claimed, “Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015.”
Speaking to reporters at the White House on Sunday, Trump dismissed the report, “It’s fake news. It’s totally fake news. Made up. Fake.”
#BREAKING: President Trump responds to NYTimes #TrumpTaxReturns story as "fake news," says Sean Hannity, Lou Dobbs, Laura Ingraham, Tucker Carlson should get Pulitzer Prizes. pic.twitter.com/m3fzr8OGEG— The Hill (@thehill) September 27, 2020
“I paid a lot. And I paid a lot of state income taxes. New York State charges a lot and I paid a lot of money in state. It will all be revealed. It’s going to come out,” Trump added.
He also repeated his previous assertion that once his years-long audit is complete, he will release his tax returns.