Donald Trump did not pay taxes in 2020, showed ‘questionable’ losses: US committee
Trump never revealed his tax returns while running for office
Donald Trump did not pay any taxes during his final years of presidency in 2020 by showing losses in sprawling business, Reuters news agency reported citing tax figures released by a congressional panel.
The records were released by the Democratic-led House of Representatives Ways and Means Committee late on Tuesday.
The tax records show that Trump's income, and his tax liability, had dramatic changes during his four years in the White House.
The documents revealed that Trump and his wife, Melania, paid some form of tax during all four years, but were able to cut down their taxes by showing losses and deductions.
The committee has called into question some of those tax deductions claimed by the Trump's family including the one for $916 million, members said on Tuesday, adding that the tax returns were short on details.
The panel members said that they would release the redacted versions of his full returns in the coming days.
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With the tax rebate revelations, the Democratic party aims to snuff out every last bit of support for Trump, who has expressed his intention to run for the office in 2024.
The development is significant as Trump had refused to make his tax returns public during his two presidential bids and his campaign for office, despite other presidential candidates having done so for decades.
Moreover, the US Internal Revenue Service hesitated to review the tax returns of Trump, until the Democrats pressed for action in 2019.
After a years-long fight, the committee made some of Trump’s tax records public on Tuesday.
Reacting to the development, a Trump spokesman termed the release of the documents “politically motivated”.
"If this injustice can happen to President Trump, it can happen to all Americans without cause," Trump Organization spokesman Steven Cheung said on Wednesday.
(With inputs from agencies)
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