Business Maverick: Trump Had Losses of $1.17 Billion Over a Decade: NYT

President Donald Trump’s losses, in the 1980s and 1990s, were greater than those reported by nearly any other American taxpayer during that period, according to Internal Revenue Service data the New York Times said it had reviewed. In 1990 and 1991, according to the Times, Trump’s loses of $250 million a year were more than double those of the nearest taxpayer the IRS collected information on.

The Times said it did not obtain the actual tax returns, but instead received Trump’s IRS tax transcripts that included figures from his federal 1040 tax form from someone who had legal access to it. The Times said it was able to verify some of the figures by cross referencing them to other documents they had obtained.The losses cover Trump’s taxes from 1985 to 1994. The losses began with $46.1 million in 1985 from casinos, hotels and retail space, and grew year after year, the Times reported.

On Monday, Treasury Secretary Steven Mnuchin refused to release Trump’s personal and business tax returns from the past six years, setting up what could become one of the biggest legal showdowns between the president and a Congress seeking to investigate him.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: India’s Bharti Airtel Plans to Kick Off IPO of $5 Billion Africa Phone UnitBharti Airtel Ltd., India’s second-biggest wireless carrier, is preparing to kick off the initial public offering of its Africa unit in a deal that could raise about $1 billion.
Source: dailymaverick - 🏆 3. / 84 Read more »

South Africa inks oil exploration deal with South Sudan - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South Africa on Monday signed a deal for the exploration and production of oil in South Sudan, as part of a $1 billion investment in the conflict-torn nation’s struggling oil industry. sabcnews SouthSudan Oil JIT -Just in time, for the elections ANC? Next, Ramaphosa and his in-laws, aboJeff noPatrice are going to send members of the SANDF to South Sudan under the guise of a peace mission, when the mission would in fact be to protect their investments. Remember Jakobe, Khulubuse and the DRC mission? WHAT IS MEANT BY 'SOUTH AFRICA'? WHOSE PAYING 4 THIS? IS OIL HEAVY ENOUGH 4 OUR REFINERIES? COMPATIBLE WITH WHAT WE R USING AT THE MOMENT ? WASN'T THERE A PROBLEM WITH THIS INVESTMENT B4 ? SO Y ANNOUNCE IT WHEN PPL'S ATTENTION IS TOWARD ELECTION ? USUAL MINING-PRENEURS INVOLVED!!
Source: SABC News Online - 🏆 32. / 51 Read more »