<p>Donald J. Trump, the former president, is in hot water over his Chicago tower's taxes. The IRS, the tax authority, said&nbsp;he might owe over $100 million, as uncovered by The New York Times and ProPublica. Trump claimed his tower was "worthless" for tax reasons, but now the IRS says he might have been too tricky with his taxes.</p>

<p>Trump's big tower in Chicago was supposed to be a success, but it ended up losing a lot of money because of high costs and the recession. When Trump tried to get some money back through taxes, the IRS said he did it wrong.</p>

<h2><strong>Double trouble: Writing off losses twice</strong></h2>

<p>In 2008, Trump said his tower was a loss and claimed a big tax break. Then in 2010, he tried to get even more money back from the IRS. But the IRS thinks he tried to get money twice for the same problem.</p>

<p>The IRS is now looking into Trump's taxes very closely. If they find he owes money, it could be a huge problem for him. This has been going on for a while, and it's still not clear what will happen.</p>

<p>Tax experts think Trump might have tried to play games with the tax system. If he loses this fight, it could change how taxes work for other people too.</p>

<p><a href="https://www.wionews.com/business-economy/trump-pledges-to-target-electric-vehicles-in-meeting-with-oil-ceos-seeks-1billion-as-deal-720056">Also read |&nbsp;Donald Trump pledges to target EVs, LNG exports in meeting with oil CEOs, seeks $ 1 billion as 'deal'</a></p>

<h2><strong>Trump ridiculed for getting son Barron's age wrong</strong></h2>

<p>Baron is Melania's only child with Trump. Although Baron celebrated his 18th birthday this year, Trump mistakenly stated the wrong age for his fifth child during an interview with Miami's Telemundo 51.&nbsp;</p>

<p><strong>Also watch |&nbsp;Hush money trial: Trump's closest aides wraps up testimonies</strong></p>

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<p>Barron Trump, the youngest son of former US President Donald Trump, has opted out of his expected political debut at the upcoming Republican Party convention in July. Originally set to join as a delegate for Florida, Barron withdrew on Friday (May 10) citing prior commitments, according to a statement released by his mother, Melania Trump.</p>

<p>"He's pretty young, I will say. He's 17. But if they can do that, I'm all for it," Trump told NBC Universal's Spanish-language network.</p>

<p><em>(With inputs from agencies)</em></p>

<p>&nbsp;</p>


Donald J. Trump, the former president, is in hot water over his Chicago tower's taxes. The IRS, the tax authority, said he might owe over $100 million, as uncovered by The New York Times and ProPublica.

Donald J. Trump, the former president, is in hot water over his Chicago tower's taxes. The IRS, the tax authority, said he might owe over $100 million, as uncovered by The New York Times and ProPublica. Trump claimed his tower was "worthless" for tax reasons, but now the IRS says he might have been too tricky with his taxes. Trump's big tower in Chicago was supposed to be a success, but it ended up losing a lot of money because of high costs and the recession. When Trump tried to get some money back through taxes, the IRS said he did it wrong. Double trouble: Writing off losses twice In 2008, Trump said his tower was a loss and claimed a big tax break. Then in 2010, he tried to get even more money back from the IRS. But the IRS thinks he tried to get money twice for the same problem. The IRS is now looking into Trump's taxes very closely. If they find he owes money, it could be a huge problem for him. This has been going on for a while, and it's still not clear what will happen. Tax experts think Trump might have tried to play games with the tax system. If he loses this fight, it could change how taxes work for other people too. Also read | Donald Trump pledges to target EVs, LNG exports in meeting with oil CEOs, seeks $ 1 billion as 'deal' Trump ridiculed for getting son Barron's age wrong Baron is Melania's only child with Trump. Although Baron celebrated his 18th birthday this year, Trump mistakenly stated the wrong age for his fifth child during an interview with Miami's Telemundo 51. Also watch | Hush money trial: Trump's closest aides wraps up testimonies Barron Trump, the youngest son of former US President Donald Trump, has opted out of his expected political debut at the upcoming Republican Party convention in July. Originally set to join as a delegate for Florida, Barron withdrew on Friday (May 10) citing prior commitments, according to a statement released by his mother, Melania Trump. "He's pretty young, I will say. He's 17. But if they can do that, I'm all for it," Trump told NBC Universal's Spanish-language network. (With inputs from agencies)

Donald Trump could owe $100 million in taxes, audit finds

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<p>Former US president Donald Trump had bank accounts in foreign countries including China during his presidency, the tax returns report released on Friday by the House Ways and Means Committee has revealed.&nbsp;The redacted tax returns showed that Trump had a bank account in China between 2015 to 2017. However, during the canvassing trail, Trump in a presidential debate claimed he had an account open but closed it before beginning the campaign.&nbsp;</p>

<p>“I had an account open, and I closed it. I closed it before I even ran for president, let alone became president," Trump said at the time.&nbsp;</p>

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<p dir="ltr" lang="en">No way, he lied? <a href="https://t.co/iSM69Zr5GS">https://t.co/iSM69Zr5GS</a></p>
— Bradley P. Moss (@BradMossEsq) <a href="https://twitter.com/BradMossEsq/status/1608880467268321281?ref_src=twsrc%5Etfw">December 30, 2022</a></blockquote>
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<p><a href="https://www.wionews.com/videos/us-donald-trumps-tax-records-made-public-paid-little-or-no-taxes-over-years-wion-548223" target="_blank"><strong>WATCH | US: Donald Trump's tax records made public, paid little or no taxes over years | WION</strong></a></p>

<p>Trump Organisation lawyer Alan Garten was quoted as saying by New York Times that&nbsp;the bank account in China was reportedly tied to Trump International Hotels Management.&nbsp;</p>

<p>Trump, who has been a vocal China critic throughout the years, was questioned by Democrat leader Daniel Goldman after the release of the tax returns and his Chinese connection.&nbsp;</p>

<p>“Generally, you only have bank accounts in a foreign country if you are doing transactions in that country’s currency. What business was Trump doing in China while he was President?” tweeted Goldman.&nbsp;</p>

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<p dir="ltr" lang="en">Trump had bank accounts in China while he was in office until 2018.<br />
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Generally, you only have bank accounts in a foreign country if you are doing transactions in that country’s currency.<br />
<br />
What business was Trump doing in China while he was President? <a href="https://t.co/SQhyPEOOxi">https://t.co/SQhyPEOOxi</a></p>
— Daniel Goldman (@danielsgoldman) <a href="https://twitter.com/danielsgoldman/status/1608870628190482433?ref_src=twsrc%5Etfw">December 30, 2022</a></blockquote>
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<p><a href="https://www.wionews.com/world/ex-us-president-donald-trumps-tax-returns-released-by-us-house-panel-548149" target="_blank"><strong>Read more: Ex-US president Donald Trump's tax returns released by US House panel</strong></a></p>

<p>While Trump attacks the current administration for harbouring pro-China sentiments, President Joe Biden's financial disclosures have shown no connection to China.&nbsp;</p>

<p>After the release of the documents, Trump called the entire exercise&nbsp;a witch-hunt against him.&nbsp;</p>

<p>"There is no legitimate legislative purpose for their action. And if you look at what they've done, it's so sad for our country. It's nothing but another deranged political witch hunt which has been going on from the day I came down an escalator in Trump Tower," said the ex-president in a campaign video.&nbsp;</p>

<p>The Republican leader looking to mount a comeback in 2024 has been dealt a rough hand in the last few weeks. Prior to the release of the tax returns, Trump was indicted by a senate panel committee's report of trying to incite the January 6 Capitol Hill riots.&nbsp;&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Former US president Donald Trump had bank accounts in foreign countries including China during his presidency, the tax returns report released on Friday by the House Ways and Means Committee has revealed.

Former US president Donald Trump had bank accounts in foreign countries including China during his presidency, the tax returns report released on Friday by the House Ways and Means Committee has revealed. The redacted tax returns showed that Trump had a bank account in China between 2015 to 2017. However, during the canvassing trail, Trump in a presidential debate claimed he had an account open but closed it before beginning the campaign. “I had an account open, and I closed it. I closed it before I even ran for president, let alone became president," Trump said at the time. No way, he lied? https://t.co/iSM69Zr5GS — Bradley P. Moss (@BradMossEsq) December 30, 2022 × WATCH | US: Donald Trump's tax records made public, paid little or no taxes over years | WION Trump Organisation lawyer Alan Garten was quoted as saying by New York Times that the bank account in China was reportedly tied to Trump International Hotels Management. Trump, who has been a vocal China critic throughout the years, was questioned by Democrat leader Daniel Goldman after the release of the tax returns and his Chinese connection. “Generally, you only have bank accounts in a foreign country if you are doing transactions in that country’s currency. What business was Trump doing in China while he was President?” tweeted Goldman. Trump had bank accounts in China while he was in office until 2018. Generally, you only have bank accounts in a foreign country if you are doing transactions in that country’s currency. What business was Trump doing in China while he was President? https://t.co/SQhyPEOOxi — Daniel Goldman (@danielsgoldman) December 30, 2022 × Read more: Ex-US president Donald Trump's tax returns released by US House panel While Trump attacks the current administration for harbouring pro-China sentiments, President Joe Biden's financial disclosures have shown no connection to China. After the release of the documents, Trump called the entire exercise a witch-hunt against him. "There is no legitimate legislative purpose for their action. And if you look at what they've done, it's so sad for our country. It's nothing but another deranged political witch hunt which has been going on from the day I came down an escalator in Trump Tower," said the ex-president in a campaign video. The Republican leader looking to mount a comeback in 2024 has been dealt a rough hand in the last few weeks. Prior to the release of the tax returns, Trump was indicted by a senate panel committee's report of trying to incite the January 6 Capitol Hill riots. (With inputs from agencies) WATCH WION LIVE HERE:

Donald Trump had bank account in China during his presidency, reveal tax documents

<p>Former US President Donald Trump's&nbsp;six years' worth of tax returns will be made public on Friday, a spokesperson for the Ways and Means Committee of the US House of Representatives said on Tuesday.&nbsp;The documents to be released on Friday will include Trump's tax returns filed between 2015 and 2021, the years he ran for and served as president.</p>

<p>The development comes a week after the Democratic-controlled House Ways and Means Committee voted 24-16 to conclude that former US president Donald Trump's tax filings for the period between 2015 to 2020 will be made public.</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/donald-trumps-tax-filings-to-be-made-public-votes-us-house-panel-544961">Donald Trump's tax filings to be made public, votes US House panel</a></strong></p>

<p>The committee released a report on its findings last week, which said the Internal Revenue Service (IRS) broke its own rules by not auditing Trump for three of the four years of his presidency.</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/us-congress-to-release-donald-trumps-tax-filings-544968">US Congress to release Donald Trump's tax filings</a></strong></p>

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<p>Trump's tax returns were not released alongside last week's report because they contained sensitive information that had to be redacted before publication, committee members were quoted as saying by Reuters.&nbsp;</p>

<p><strong>Why the call to make Trump's returns public?</strong></p>

<p>According to the Democrat lawmakers serving in the Ways and Means&nbsp;Committee, making the returns public was necessary for people&nbsp;to understand the context of its report, which also included a proposed law&nbsp;that would mandate the IRS to audit the serving presidents of the US.&nbsp;</p>

<p>Trump was reportedly the first presidential candidate in decades not to release his tax returns during either of his campaigns for president.</p>

<p>Democrats on the committee had only a few weeks to decide how to handle the returns once they got them before Republicans retake control of the U.S. House in January after winning a narrow margin of victory in November's midterm elections.</p>

<p>(<em>With inputs from agencies</em>)</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

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Former US President Donald Trump's six years' worth of tax returns will be made public on Friday, a spokesperson for the Ways and Means Committee of the US House of Representatives said on Tuesday.

Former US President Donald Trump's six years' worth of tax returns will be made public on Friday, a spokesperson for the Ways and Means Committee of the US House of Representatives said on Tuesday. The documents to be released on Friday will include Trump's tax returns filed between 2015 and 2021, the years he ran for and served as president. The development comes a week after the Democratic-controlled House Ways and Means Committee voted 24-16 to conclude that former US president Donald Trump's tax filings for the period between 2015 to 2020 will be made public. ALSO READ | Donald Trump's tax filings to be made public, votes US House panel The committee released a report on its findings last week, which said the Internal Revenue Service (IRS) broke its own rules by not auditing Trump for three of the four years of his presidency. WATCH | US Congress to release Donald Trump's tax filings × Trump's tax returns were not released alongside last week's report because they contained sensitive information that had to be redacted before publication, committee members were quoted as saying by Reuters. Why the call to make Trump's returns public? According to the Democrat lawmakers serving in the Ways and Means Committee, making the returns public was necessary for people to understand the context of its report, which also included a proposed law that would mandate the IRS to audit the serving presidents of the US. Trump was reportedly the first presidential candidate in decades not to release his tax returns during either of his campaigns for president. Democrats on the committee had only a few weeks to decide how to handle the returns once they got them before Republicans retake control of the U.S. House in January after winning a narrow margin of victory in November's midterm elections. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Trump's tax filings from his US presidency years to be made public on Dec 30