Pres. Trump is still fighting Congress over the release of his tax returns, but a new report analyzing his official IRS tax transcripts, with the figures from his federal tax forms, shows he lost over $1 billion from 1985 to 1994.
President Donald Trump is still fighting Congress over the release of his tax returns, but a new report on Tuesday analyzing his official Internal Revenue Service tax transcripts, with the figures from his federal tax forms, shows he lost over $1 billion from 1985 to 1994.
Charles Harder, an attorney for Trump, countered in a statement to the Times -- later provided to ABC News -- that the reporting was inaccurate and based off"inherently unreliable" tax transcripts. He also questioned whether the documents even exist. Trump did not pay any taxes in eight of the 10 years analyzed by the Times due to his financial losses. During his financial collapse in 1990 and 1991, he lost more than $250 million each year, the documents show.
"Out of respect for the deadlines previously set by the Committee, and consistent with our commitment to a prompt response, I am informing you now that the Department may not lawfully fulfill the Committee’s request," Mnuchin wrote.
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