News World US Donald Trump Donald Trump paid just $US750 – $1070 – in tax: Report

Donald Trump paid just $US750 – $1070 – in tax: Report

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US President Donald Trump paid just a few hundred dollars in tax in recent years, according to reports in the New York Times.

The NY Times reported Mr Trump, who is seeking re-election in November, paid just $US750 ($1070) in federal income taxes in both 2016 and 2017, and paid no income taxes in 10 of the past 15 years.

That was despite Mr Trump receiving $US427.4 million ($607 million) in 2018 from his reality television program and other endorsement and licensing deals.

Mr Trump was able to minimise his tax bill by reporting heavy losses across his business empire.

The newspaper reported that Mr Trump claimed $US47.4 million ($67 million) in losses in 2018, despite claiming income of at least $US434.9 million ($616 million) in a financial disclosure that year.

The President denied the report on Sunday, calling it “total fake news” at a White House news conference.

“I pay a lot, and I pay a lot in state income taxes,” he said.

But, he repeatedly refused to answer questions at the briefing about how much he has paid in federal taxes and walked out to shouted questions from a CNN journalist on the topic.

In a statement to the NY Times, Alan Garten, a lawyer for the Trump Organisation, said Mr Trump had paid millions of dollars in personal taxes in the past decade, without weighing in on the specific income tax finding.

Mr Trump has consistently refused to release his taxes, departing from standard practice for presidential candidates, saying they are under audit.

The NY Times said it had obtained tax-return data covering over two decades for Mr Trump and companies within his business organisation. It did not have information about his personal returns from 2018 or 2019.

The paper also reported that Mr Trump is embroiled in a decade-long Internal Revenue Service audit over a $US72.9 million ($103 million) tax refund he claimed after declaring large losses.

If the IRS rules against him, he could have to pay over $US100 million ($142 million), according to the newspaper.

Mr Trump told Sunday’s briefing he was willing to release his tax returns once he was no longer under audit by the IRS, which he said “treats me badly”.

-with AAP