Donald Trump escaped from paying federal income tax legally, says NYT report
According to the report, Trump showed $916 million loss as per his 1995 income tax returns and that would have allowed him to avoid paying taxes for up to 18 years.
The Republican presidential candidate Donald Trump may have escaped from paying federal income tax legally in the US for up to 18 years after claiming a huge loss in his tax returns, a report published in The New York Times has revealed.
According to the report, Trump declared a huge $916 million loss on his 1995 income tax returns and that would have allowed him to avoid paying taxes until 2013.
The businessman-turned politician has refused to release his tax returns throughout his campaign, unlike other presidential nominees.
Trump's rival Hillary has criticized him on many occasions during the Presidential race for non-payment of his corporate taxes. But, Trump responded saying that he has no idea where the US government is putting the tax payers money.
Commenting on the report, Clinton campaign spokesman Brian Fallon tweeted: "Trump's returns show just how lousy a businessman he is AND how long he may have avoided paying any taxes."
However, the Trump camp released a statement that neither challenged nor confirmed the report. However, the campaign asserted the documents the newspaper published were "illegally obtained."
“Mr. Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required,” the statement read.
“That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes,” it added.
Hillary Clinton earlier challenged Trump to disclose his tax returns saying if the tax regime of the US is that bad then it might be better if he could provide proof that he paid federal income tax.