The details of President Donald Trump’s tax returns have been released thanks to a report by The New York Times.
The article, which was published on Sunday, September 27, uncovers the 74-year-old’s tax information after he spent years refusing to share his returns with the public.
Read on to learn more about the bombshell article, including what he spent in federal income tax the first year he was President.
According to the report, Trump only paid $750 in federal income tax in both 2016 and 2017. In fact, The Times analyzed 18 years of his tax returns and found he actually paid zero income taxes in 10 of those years.
The reason for this is reportedly due to the fact that he reported losing more money than he made.
Along with only paying $750 in income tax in 2016 and 2017, the report also revealed Trump received a $72.9 million tax refund from the IRS starting in 2010.
Along with sharing his federal income tax, the report also revealed the expenses claimed as deductions from his taxes.
Those deductions included $70,000 in hairstyling costs, $300,000 in landscaping, and $95,000 for hair and makeup for his daughter Ivanka Trump.
Trump dismissed the report as “fake news” during a White House press conference on Sunday night.
“It’s totally fake news. Made-up, fake. We went through the same stories, people you could’ve asked me the same questions four years ago. I had to litigate this and talk about it. Totally fake news,” he told reporters.
“Actually I paid the tax, and you’ll see that as soon as my tax returns — it’s under audit. They’ve been under audit for a long time.”
He continued, “The IRS does not treat me well. … They don’t treat me well; they treat me very badly. You have people in the IRS, they treat me very, very badly.”
His attorney, Alan Garten told the Times, “most, if not all, of the facts, appear to be inaccurate.”
As to not give away their source, The New York Times did not include the actual tax documents in the report.
“We are publishing this report because we believe citizens should understand as much as possible about their leaders and representatives — their priorities, their experiences, and also their finances,” executive editor, Dean Baquet, wrote in an editor’s note.
“Every president since the mid-1970s has made his tax information public. The tradition ensures that an official with the power to shake markets and change policy does not seek to benefit financially from his actions.”