Trump could owe $100 million to the Treasury for falsifying statements in 2008 and 2010

A joint investigation by the investigative portal ProPublica and The New York Times has once again highlighted former President Donald Trump's problems with the treasury. Under the title The IRS Audit [Hacienda] Trump could cost the former president more than $100 million, the article, published this Saturday, includes the results of an IRS audit, which lasted for a year, on the massive loss declarations of his Chicago skyscraper, called, as is the headquarters of his emporium in New York, Trump Tower. The report recalls that Trump declared million-dollar losses twice: first in his 2008 tax return, when he said that the building, then mired in debt, “was worth nothing,” and again after 2010, when he had changed its ownership to a new company also controlled by Trump. The 2008 declaration caused Trump to declare losses of up to $651 million that year, and there is no indication that the IRS challenged it, according to both media. Trump's lawyers then claimed further losses in 2010 by transferring ownership of the Chicago tower to another company. As a result of the IRS investigation, Trump could owe more than $100 million in taxes, having falsified the returns for those two years. In 2016, when he was a candidate for the White House, Trump stated that he could not publish his tax returns because It was being subject to an audit, of which hardly any details were known. Based on public information such as an IRS legal memorandum and different tax investigations of the former president, the two media have been able to reconstruct the IRS's motives for auditing him. The Republican candidate for re-election was convicted a few months ago in a civil trial in New York, and forced to pay a million-dollar penalty, for exaggerating the value of properties in his empire – among them the Trump Tower in Manhattan – to obtain credit advantages and better conditions from insurers. In the following years, other Trump businesses, including several golf courses, would be transferred to that same company, which his lawyers used as a basis to present more losses – to obtain a tax deduction – from the company. Chicago tower. That move sparked the IRS investigation. These losses totaled $168 million in the following decade, according to the report. ProPublica and the New York Times estimate that the review requested by the Treasury could result in a tax bill of more than $100 million, a not inconsiderable amount if added to fines for two civil lawsuits in New York—one of them, the of the aforementioned tax fraud—plus the exorbitant legal expenses he must face for the four criminal proceedings he faces. The only public mention of the IRS audit of Trump's loss statements from the Chicago tower came in a Congressional report December 2022 which, according to the media, made a reference to the case. “This matter was resolved years ago, but was resurrected when my father ran for office.” [de noviembre de este año]. “We are confident in our position, which is supported by letters from several tax experts, including the former general counsel of the IRS,” Eric Trump, Trump’s son and executive vice president of the Trump Organization, responded to The Times and ProPublica in a statement. A year ago, the US Congress released Trump's tax returns that the former president had refused to release. The real estate magnate paid $1.1 million in federal taxes in his first three years as president, and no taxes in 2020. In September of this last year, another report from the New York Times shook the final stretch of the election campaign that Trump would end up losing to Democrat Joe Biden. According to the newspaper, which accessed 20 years of tax information that the Republican tried to keep secret and that was under investigation, Trump paid $750 in taxes in 2016 and 2017. Join EL PAÍS to follow all the news and read without limits.SubscribeFollow all the international information on Facebook and xor in our weekly newsletter.