False: But let me just tell you I paid millions and millions of dollars in taxes.

By: Devika Kandelwal
October 23 2020

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Trump falsely claimed that he has paid millions of dollars in taxes. NYT reported he only paid $750 in taxes in 2016 and 2017. An investigation by NYT revealed that Trump paid $750 in taxes in 2016 and 2017. He has not paid any federal income tax for 11 years in the past 18 years. President Trump has also not paid any federal income tax for 11 years in the past 18 years. He has been involved in a decade-long audit with the Internal Revenue Service over a $72.9m tax refund he claimed and received, after declaring huge losses. A ruling against him could cost him more than $100m, the Times reported. The IRS began an audit reviewing the legitimacy of the refund in 2011. The case remains unresolved to date, for unknown reasons, and could ultimately end up in federal court, where it could become a matter of public record. In the New York Times' assessment, Trump's core businesses, such as his golf-courses and magnate hotel in Washington, have been reporting losses in tens of millions of dollars in attempts to avoid taxation. The Times report on his tax returns has also made it clear that Trump’s businesses have benefited from his political career. The report also stated that since he became a leading presidential candidate, he has received large amounts of money from lobbyists, politicians, and foreign officials who pay to stay at his properties or join his clubs, before detailing monies paid at his Mar-a-Lago resort in Florida, his Washington hotel and other locations.