Trump faces a potential bill of 100 million dollars in taxes: NYT – El Sol de Mazatlán

Monday 13 May, 2024
1 min read

 

New York, May 11 (EFE).- Former President Donald Trump faces a potential bill of $100 million in taxes following an Internal Revenue Service (IRS) investigation. of the United States about improper tax discounts in one of its buildings, as reported by The New York Times and ProPublica this Saturday.

According to the report by these media, Trump indicated in his 2008 tax return that his Chicago skyscraper had losses of 651 million dollars and was “useless” to claim exemptions, and in 2010 he made a tax maneuver to claim more, changing the ownership of the building to an entity under its control.

The first loss claim was accepted by the IRS, although tax experts consulted by the media expressed surprise at the lack of scrutiny, and it was the second that launched an investigation into whether Trump had violated rules against duplicating tax deductions.

The 2010 maneuver allowed Trump to save money on taxes by reporting additional losses of $168 million over the next decade on the same building, which houses residential and hotel accommodations, he adds.

One of the magnate’s sons, Eric Trump, who is an executive in the family business, said in a statement that the IRS investigation “was closed years ago” and assured that it has been reopened because his father once again aspires to preside over the country. .

The report indicates that the IRS intensified scrutiny of Trump’s maneuver during his term (2017-2021) and cites December 2022 as the last moment in which the investigation was revealed to the public, because it was mentioned in a Congressional report, but not informs about its status.

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The media say that if Trump loses the “battle” against the IRS, which has been reviewing the tycoon’s accounts, he would have to pay more than 100 million in taxes according to calculations made by tax experts, but the case will only be public if the politician appeals the ruling in court. EFE

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Source: from El Sol de Mazatlán | Noticias Locales, Policiacas, sobre México, Sinaloa y el Mundo – frontpage on 2024-05-11 16:46:25

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