November 23, 2022

AFTER ALL, THERE'S A REASON DAD ALWAYS HAD TO BAIL HIM OUT:

Accountant testifies Trump claimed decade of huge tax losses (MICHAEL R. SISAK, 11/22/22, AP)

Donald Trump reported losses on his tax returns every year for a decade, including nearly $700 million in 2009 and $200 million in 2010, his longtime accountant testified Tuesday, confirming long-held suspicions about the former president's tax practices. [...]

Bender's testimony came on a day full of Trump-related legal drama, including the U.S. Supreme Court clearing the way for Congress to get six years worth of tax returns for Trump and some of his businesses.

Also Tuesday, the judge in New York Attorney General Letitia James' civil fraud lawsuit against Trump and his company set an October 2023 trial date; a federal appeals court heard arguments in the FBI's Mar-a-Lago documents investigation; and Sen. Lindsey Graham, a Trump ally, testified before a Georgia grand jury probing alleged 2020 election interference.

Bender's tax loss testimony echoed what The New York Times reported in 2020, when it obtained a trove of Trump's tax returns. Many of the records reflected massive losses and little or no taxes paid, the newspaper reported at the time.

The Times reported Trump paid no income tax in 11 of the 18 years whose records it reviewed, and that he paid just $750 in federal income tax in 2017, the year he became president. Citing other Trump tax records, The Times previously reported that in 1995 he claimed $915.7 million in losses, which he could have used to avoid future taxes under the law at the time.

Posted by at November 23, 2022 12:00 AM

  

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