REVEALED: Donald Trump's Tax Returns Show Ex-Prez Paid $0 In Taxes In 2020, Reported Negative Income Four Times In Six Years
Donald Trump’s tax returns show the ex-president and his wife, Melania, paid $0 in taxes in 2020, RadarOnline.com can confirm.
The shocking revelation comes just hours after the Democrat-controlled House Ways and Means Committee voted to release Trump’s tax returns on Tuesday night in a 24-16 vote.
Although the complete release of the former president’s tax returns is expected to come in the next few days, the information already released also found that Trump and his wife reported a negative income in four of the six years between 2015 and 2020.
According to the six-year period covered in the newly released returns, Trump’s adjusted gross income totaled a whopping negative $53.2 million. His total federal tax liability, which included self-employment and household employment taxes, was found to be only $4.4 million.
Additionally, in 2015, 2016 and 2017, the Trumps reported an income tax liability of only $750.
Trump and Melania also only reported a positive adjusted gross income in two of the six years between 2015 and 2020, reporting $24.3 million in 2018 and $4.4 million in 2019.
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Another shocking revelation found in the House Ways and Means Committee’s report is that the IRS failed to conduct a mandatory audit of Trump’s tax returns during his first two years in office.
The IRS only audited Trump’s 2016 tax returns in September 2019. The IRS then waited until Trump had left office in January 2021 to audit the businessman-turned-politician’s tax returns from 2017, 2018 and 2019.
“The Committee expected that these mandatory audits were being conducted promptly and in accordance with IRS policies,” committee Chairman Richard Neal said in a statement on Tuesday.
“We anticipated the IRS would expand the mandatory audit program to account for the complex nature of the former president’s financial situation yet found no evidence of that,” Neal continued. “This is a major failure of the IRS under the prior administration, and certainly not what we had hoped to find.”
“But the evidence is clear,” he added. “Congress must step in.”
A spokesperson for Trump has since raged about the release of the embattled former president’s tax returns, calling the decision an “unprecedented leak by lame-duck Democrats” before they turn over control of the House to the GOP in January.
“If this injustice can happen to President Trump, it can happen to all Americans without cause,” Trump’s spokesperson, Steven Cheung, said before claiming that “the full release of the returns will reflect Trump’s success as a businessman.”