February 1, 2023

Taylor Daily Press

Complete News World

From $0 to nearly $1 million a year: Donald Trump’s tax returns finally released after years of legal battle

The U.S. House of Representatives Treasury Committee, which is investigating Donald Trump’s tax returns, last week cited Trump’s latest income figures, but now they have been made public in black and white.

Records show Trump and his wife Melania paid just $750 in income taxes in 2016 and 2017. In fact, in 2020 they paid no income tax at all. The committee questions the low figure, as the former president has often boasted about his wealth.

Trump paid substantial amounts in taxes in 2015, 2018, and 2019, although the average taxpayer’s amounts are relatively low compared to his income. He paid $641,931 in 2015, less than $1 million in 2018 and $133,445 in 2019, filings show.

The 2018 charge was calculated on adjusted gross income of $24.3 million, representing an effective tax rate of 4 percent. However, the average taxpayer paid $15,322 in federal income taxes in 2018, at an average rate of about 13 percent, according to the IRS (Internal Revenue Service).

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