world

USA. The House Finance Committee released the tax returns of Donald Trump and his companies

USA.  The House Finance Committee released the tax returns of Donald Trump and his companies

USA. The House Finance Committee released the tax returns of Donald Trump and his companies

The tax returns of former US President Donald Trump and his companies were made public on Friday by the House of Representatives’ Finance Committee. The documents concern the years 2015-2020. The commission previously determined that Trump paid virtually no federal income tax in three of his six years, and the documents contain many questionable points.

The House of Representatives Finance Committee released the former president’s tax returns on Friday Donald Trump and its companies from 2015-2020. According to the committee’s earlier findings, Trump paid virtually no federal income taxes in three of his six years, and the documents contain many questionable points.

The documents released by the committee include tens of thousands of pages of the former president’s personal tax returns and documents relating to the finances and operations of his companies. According to Politico, it may take “days or weeks” to analyze them.

Donald TrumpShutterstock

The commission released the documents ten days after its members received them. On December 20, it voted for the publication of the documents all 24 Democratic congressmen on the committee and all 16 Republicans opposed.

However, members received them a few weeks ago after Supreme Court finally ended the legal battle that had been going on since 2019 for access to Trump’s tax returns, who, unlike his predecessors and successor in the chair president of the United States – and despite his promises – he never revealed them.

The documents show that that in his 2015-2020 testimony, Trump declared a total of over $53 million in net loss (declared net profit only in 2018 and 2019) and paid a total of $1.77 million in income taxes. He paid $750 in 2016 and 2017 and nothing in 2020.

READ ALSO: Supreme Court USA rejected Donald Trump’s request. Congress gained access to his tax returns

Experts point to several potential irregularities

The analysis of documents by the experts of the nonpartisan tax commission also reported several potential irregularities that require additional research. It’s about, among others o transactions with family members, tax deductions for expenses, e.g. for a hairdresser, lunches and make-up artists, and a write-off related to the compensation that Trump paid to defrauded clients of the so-called Trump University.

In addition, the reports show that the auditors of the American tax office (Internal Revenue Service, IRS) examined, among others, the potential overstatement of multimillion-dollar write-offs related to land use on his properties.

Richard Neal, the chairman of the finance committee, Democrat, also emphasized that the documents prove that the IRS started a mandatory audit of the former president’s tax returns only after Neal asked for the tax returns, i.e. in 2018. None of the annual audits have been completed yet.

READ ALSO: The U.S. Capitol Assault Inquiry Committee recommends prosecutors file charges against Trump

Trump: The great divide in the US will now deepen significantly

In his statement, Donald Trump said: “Democrats should never have done this, the Supreme Court should never have approved it, it will lead to terrible things for so many people.”

The former president stated that his tax returns show his success and “how he was able to use depreciation and various other things tax credits as an incentive to create thousands of jobs and great structures and businesses.”

“The Great Divide in the US will now deepen significantly. Radical Left Democrats have armed everything, but remember, it’s a dangerous two-way street!” – added.

READ ALSO: Trump’s company fined for tax evasion >>>

Main photo source: Shutterstock

#USA #House #Finance #Committee #released #tax #returns #Donald #Trump #companies

Related Articles

Back to top button