Could Donald Trump's commercial ties to China undermine his third campaign for the presidency?
Committee on Ways and Means published nearly 6,000 pages of Trump's tax records, covering 2015 to 2020 and spanning his time as president.
in particular, the documents showed no obvious hints of nefariousness, but they did raise further questions about his reluctance to disclose., the existence of which Trump had dismissed during his 2020 presidential campaign, in a period when he labeled Biden"China Joe." Mandatory filings to the Financial Crimes Enforcement Network, or FinCEN, listed the account between 2015 and 2017, along with accounts in the U.K., Ireland and Saint Martin. It confirmed an, which said the businessman-turned-politician had paid some $188,500 to Chinese tax authorities between 2013 and 2015.that the account remained open, but had been inactive since 2015.
The IRS records showed Trump declared foreign earnings from 22 countries or territories. In 2020, his last full year in office, he and Melania paid no federal income tax on negative income of nearly $4.8 million. That year, Trump paid more taxes to foreign countries—nearly $85,000—than he did in the United States.
In 2015, Trump paid $642,000 in federal income tax. Owing to negative income and other deductibles, he paid the IRS $750 in each of the two years that followed. That included 2017, the year of his state visit to China, when he declared $6.5 million in income from business activities in the country and paid nearly $1 million in taxes to foreign countries.
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