{"id":24281,"date":"2023-01-01T10:05:48","date_gmt":"2023-01-01T15:05:48","guid":{"rendered":"http:\/\/worldjusticenews.com\/news\/?p=24281"},"modified":"2023-01-01T10:05:48","modified_gmt":"2023-01-01T15:05:48","slug":"trumps-tax-returns-reveal-presidents-foreign-bank-accounts","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2023\/01\/01\/trumps-tax-returns-reveal-presidents-foreign-bank-accounts\/","title":{"rendered":"Trump’s tax returns reveal president’s foreign bank accounts"},"content":{"rendered":"
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Newly released tax returns for former President Donald Trump have shed light on his business losses, complicated tax set-ups and tax payments during his White House years.<\/b><\/p>\n<\/div>\n<\/div>\n

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However, they are unlikely to have a major political impact as he eyes another presidential run, experts say.<\/p>\n<\/div>\n<\/div>\n

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The documents confirmed that Mr Trump paid no federal taxes in 2020 and only $750 (\u00a3622) in 2016 and 2017.<\/p>\n<\/div>\n<\/div>\n

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He paid close to $1m in 2018, however.<\/p>\n<\/div>\n<\/div>\n

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A long legal battle led to the release of the records, and Mr Trump criticised the disclosure, warning that it will deepen the US political divide.<\/p>\n<\/div>\n<\/div>\n

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He added that the returns “show how proudly successful I have been and how I have been able to use depreciation and various other tax deductions as an incentive for creating thousands of jobs and magnificent structures and enterprises.”<\/p>\n<\/div>\n<\/div>\n

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Although there’s no law requiring it, it is tradition for presidents to publish their tax returns.<\/p>\n<\/div>\n<\/div>\n

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US presidents are paid a salary like any worker, but many also earn income from their personal businesses and investments.<\/p>\n<\/div>\n<\/div>\n

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The newly released documents include tax returns and related documents for Donald Trump, the Donald J Trump Revocable Trust and seven corporate entities.<\/p>\n<\/div>\n<\/div>\n

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They represent only a fraction of the former president’s over 400 separate business interests.<\/p>\n<\/div>\n<\/div>\n

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