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The president has been under investigation since 2019 by two independent inquiries in New York into his finances. One, led by Manhattan District Attorney Cyrus Vance Jr., was initially focused on the role of the Trump organization in reimbursing pornographic actor Stormy Daniels to keep his mouth shut about a alleged affair with Trump. The other, a civil investigation led by New York Attorney General Letitia James, was triggered after former President President Michael Cohen’s lawyer said Trump had dramatically exaggerated his fortune to obtain loans.
The Times reported Thursday, citing people with knowledge of the matter, that those investigations had since expanded to include consulting fees that had been deducted to reduce the president’s taxable income. Both investigations have subpoenaed the Trump organization in recent weeks, the Times reported, and some of those consulting fees appear to have been paid to Ivanka Trump.
Ivanka Trump dismissed the investigations as politically successful jobs. Vance and James are both Democrats.
Trump deducted around $ 26 million in fees from unnamed consultants between 2010 and 2018, and some of those fees match exactly the $ 747,622 Ivanka Trump said she received from a consulting firm she partially owned. , according to the Times. Ivanka Trump does not appear to be at the center of the investigations, according to the Times report.
The Times article comes after the newspaper revealed damning information based on the president’s tax records dating back decades. The president has bypassed federal income taxes by declaring losses greater than profits each year, the Times reported. Trump paid just $ 750 in federal income tax in 2016, The Times revealed, and has paid no federal income tax for many of the past 15 years.
The president has dismissed the Times’ investigations, claiming to have “prepaid” tens of millions of dollars in taxes over several years. He declined to make his tax returns public, saying they were subject to IRS audit.
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