Trump did not pay taxes in 2020, even after becoming president, he kept an account in China

Trump did not pay taxes in 2020

Six years of former US President Donald Trump’s income tax returns have been released to the public. Congressional committees released the documents on Friday, breaking Trump’s long-standing efforts to keep them secret. Trump and his wife Melania did not pay any taxes in 2020, the documents show. News from The Guardian and Reuters.

Trump

Income tax information

Trump has been trying to keep his income tax information secret for a long time in order to compete in the 2024 presidential election. Democratic lawmakers have been in a legal battle with the Republican leader for years over the release of tax information. The US Supreme Court ruled on the case last month.

A congressional committee on Friday released Trump’s revised income tax returns from 2015 to 2020. Earlier this month, the lower house of Congress, the House of Representatives, reviewed the documents and published a report.

Trump Said

It said Trump and his wife Melania did not pay any federal income tax in 2020, the last year of Trump’s term as president. Trump and Melania paid $641,931 in income taxes in 2015, the year Trump campaigned for the presidency.

They paid $750 in 2016 and 2017. In 2018, he paid about 1 million dollars, in 2019, he paid 133 thousand 445 dollars. In 2020, their tax payment amount is zero. This year, Trump was defeated in the second round of the presidential election.

2020 presidential election

During the 2020 presidential election, Trump said the account in China was closed in 2015. That is, his claim was that he had eliminated China’s account before becoming president. But the income tax returns showed that he had accounts in the UK, China, and Ireland from 2015 to 2017. In 2018 reported having only one account in the UK.

According to the Reuters report, out of about 6,000 pages of documents, 2,700 pages contain the personal income tax information of Trump and his wife. More than 3,000 pages of tax returns for businesses owned by Trump.

Investigative Journalists Report

Investigative journalists, independent tax experts, and others will be able to use Trump’s income tax information during the 2024 US presidential election. They can shed light on Trump’s assets, and his business activities. They can also find out how Trump reduced his tax liability.

In 2017, Trump took office as the US president for the first time. He ran for President of the United States without filing income tax returns.

Income Tax Returns

He is the first candidate in decades not to file income tax returns. He filed a case against the committee to keep the income tax return information secret. However, the US High Court ruled in favor of the committee. Last week, the committee said the Internal Revenue Service, which collects taxes, broke its own rules by failing to audit Trump’s tax returns for three of four years.

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