US President Donald Trump paid no income tax for 10 years, says New York Times report

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Mr Trump is the only President in modern times not to make his tax records public, but a report alleges he paid no federal income taxes at all in 10 of the past 15 years.
Donald Trump paid no federal income taxes in 10 of the past 15 years, according to a report by the New York Times based on what it says is the US President's tax return data.

Key points: The New York Times says two decades of tax return data shows US President Donald Trump effectively erased his tax bill over many years by reporting heavy losses

The New York Times says two decades of tax return data shows US President Donald Trump effectively erased his tax bill over many years by reporting heavy losses Mr Trump could be responsible for a $US100 million ($142 million) tax bill to the Internal Revenue Service

Mr Trump could be responsible for a $US100 million ($142 million) tax bill to the Internal Revenue Service The President claimed $US70,000 ($99,400) in hairstyling expenses related to The Apprentice

The same report says that Mr Trump, who has fiercely guarded his tax filings and is the only President in modern times not to make them public, also paid just $US750 ($1,064) in taxes in 2016 when he was elected, and in his first year in the White House.

He campaigned for office as a billionaire real estate mogul and successful businessman.

Speaking at a news conference at the White House, Mr Trump dismissed the report as "fake news" and said he had paid taxes, but gave no specifics.

The New York Times says it has acquired two decades' worth of tax return data up to 2017 but is not revealing its sources and therefore has not provided the records to the Trump Organization for verification.

The report came at a pivotal moment ahead of the first presidential debate on Wednesday and weeks before a divisive election against Democratic rival Joe Biden.

The President vowed information about his taxes "will all be revealed".

But he offered no timeline for the disclosure and made similar promises during the 2016 election campaign without ever following through.

Even as early as 2014 Mr Trump told reporters he would make his tax returns public if he ran for…
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