It’s not that uncommon.
Democrats launched six years of Donald Trump’s income-tax returns on Friday, offering additional perception into the previous president’s tax scenario, and the tax methods he employed as a real-estate mogul.
Trump and his spouse, Melania, paid $0 in earnings taxes for 2020, in accordance with a report launched late Tuesday by the congressional Joint Committee on Taxation. The nonpartisan committee’s findings additionally raised a number of crimson flags associated to the filings, particularly Trump’s carryover losses, loans to his youngsters which will or could not even be thought of taxable presents, and deduction-related tax write-offs.
That yr, because the COVID pandemic hit, the Trumps reported a lack of $4.8 million. For 2018 and 2019, the then-president’s reported earnings elevated and so they paid roughly $1.1 million in federal taxes annually.
What’s extra, the Internal Revenue Service solely began to audit Trump’s 2015 tax filings on April 3, 2019, greater than two years…
2022-12-30 09:51:00 Donald Trump paid $0 in taxes in 2020. He’s not alone: 60% of households additionally paid no federal earnings tax that yr, however for very totally different causes.
Source from www.marketwatch.com