The IRS gives Donald Trump a likely illegitimate $72.9 million tax refund

The Trump Timeline

Sources linked at end of page.

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Sometime in 2010, date unknown, Donald Trump receives a $72,900,000 income tax refund from the Internal Revenue Service.

He also receives $21.2 million in state and local refunds.

Note: It’s unclear to Trump File if this was one large check or multiple checks over a few years.

Testifying before Congress in February 2019, the president’s estranged personal lawyer, Mr. Cohen, recalled Mr. Trump’s showing him a huge check from the U.S. Treasury some years earlier and musing “that he could not believe how stupid the government was for giving someone like him that much money back.”

In fact, confidential records show that starting in 2010 he claimed, and received, an income tax refund totaling $72.9 million — all the federal income tax he had paid for 2005 through 2008, plus interest.

The legitimacy of that refund is at the center of the audit battle that he has long been waging, out of public view, with the I.R.S….

Mr. Trump harvested that refund bonanza by declaring huge business losses — a total of $1.4 billion from his core businesses for 2008 and 2009 — that tax laws had prevented him from using in prior years…

He also received $21.2 million in state and local refunds, which often piggyback on federal filings.

The New York Times

Source

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html

Photo: leekonein

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