Just days before the US House of Representatives flips to Republican control, House Dems have released former President Donald Trump’s tax returns from 2015-2020, which he has gone to painstaking lengths in recent years to keep from going public. While details remain scarce as reporters wade through thousands of pages of documents, reports recently released by the US House Ways and Means Committee showed that Trump was not audited by the Internal Revenue Service in 2016. He had claimed the audit was why he was forced to buck the trend of presidents releasing their tax returns. That report also showed that in 2016 and 2017 the former president paid just $750 in federal income tax, declaring losses topping more than $12 million. It also revealed that he paid a total of $1.1 million in federal income tax in the first three years of his presidency but zilch in 2020. After examining these findings, the non-partisan Joint Committee on Taxation recently urged the IRS to look into whether money the former president loaned to his children – which he claimed were gifts – should have been taxable. Looking ahead, tax analysts will be focusing on whether any of Trump’s tax policies from his time in office aimed to benefit his own financial arrangements.
More from GZERO Media
Stocks have plummeted, layoffs have begun, and confusion has metastasized about the bizarre method the United States used to calculate its tariff formula. But Donald Trump says it’s “going very well."
The second largest party in South Africa’s coalition, the business-friendly Democratic Alliance, launched a legal challenge on Thursday to block a 0.5% VAT increase in the country’s new budget, raising concerns that the fragile government could collapse.
Remember the TikTok ban? The new deadline President Donald Trump set for the app to find an American buyer or be banned from US app stores, midnight Saturday, is rapidly approaching.
Overnight, the US moved to having the world’s highest tariffs by a long margin. Here is Ian Bremmer's Quick Take on the near and long-term fallout
Have you stayed atop GZERO’s news coverage this week? Here's your chance to prove it.
National Security Advisor Mike Waltz looks on as he sits next to US Defense Secretary Pete Hegseth in the Oval Office on March 13, 2025.
Someone needs to take National Security Advisor Michael Waltz’s phone out of his hand.
President Donald Trump holds a "Foreign Trade Barriers" document as he delivers remarks on tariffs in the Rose Garden at the White House on April 2, 2025.
Donald Trump’s much-anticipated “liberation day” tariff announcement on Wednesday is the biggest disruption to global trade in decades, so the political, diplomatic, and economic impacts will take time to become clear.
Elon Musk waves to the crowd as he exits the stage during a town hall on Sunday, March 30, 2025, at the KI Convention Center in Green Bay, Wis.
Donald Trump is reportedly telling people that he and Elon Musk have agreed that Musk’s work in the US government will soon be done. Politico’s story broke just as Musk seems to have discovered the electoral limits of his charm.