Trump reportedly paid only $750 in federal income taxes in 2016 and 2017

US President Donald Trump paid no federal income tax in 10 of the past 15 years, and just $750 in federal taxes in 2016 and 2017, the New York Times reported Sunday.

The records reveal “chronic losses and years of tax avoidance”, the newspaper reports.

Trump reportedly paid only $750 in federal income taxes in 2016 and 2017
Mr Trump called the report “fake news”.
“Actually I paid 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 told reporters after the story was published on Sunday.
“The IRS [Internal Revenue Service] does not treat me well… they treat me very badly,” he said.
Mr Trump has faced legal challenges for refusing to share documents concerning his fortune and business. He is the first president since the 1970s not to make his tax returns public, though this is not required by law.

Trump actually paid more taxes to foreign governments than the U.S. in 2017, the Times reported, with tax payments of  $15,598 that he or his companies paid to Panama, $145,400 to India and $156,824 to the Philippines.While Trump in 2016 said avoiding paying taxes “makes me smart,” the returns show little accounting wizardry, instead ” showing that he is simply pouring more money into many businesses than he is taking out,” the Times said, with most of his core U.S. properties losing millions or even tens of millions of dollars a year.

The Times said information in its report was “provided by sources with legal access to it”.

The report came just days before Mr Trump’s first presidential debate with Democratic rival Joe Biden and weeks before the 3 November election.

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