WASHINGTON – The White House has denied that United States President Donald Trump has built a part of his fortune by evading taxes, rejecting the findings of an extensive investigation published on Tuesday by the New York Times.
The NYT article alleged that Trump and his siblings had created a fake company to hide millions of dollars they received from their parents, and undervalued the assets of their father’s real estate business to avoid having to pay large sums in taxes.
“Many decades ago the Internal Revenue Service reviewed and signed off on these transactions,” White House spokesperson Sarah Sanders said in a statement.
Following the publication of the article, the country’s tax authorities announced they were reviewing the claims.
According to NYT estimates, Fred and Mary Trump transferred a fortune of more than $1 billion to their children, for which they barely paid $52.3 million to the public coffers.
Besides rejecting the findings, the White House considered it “sad” that the newspaper brought Trump’s father, who died in 1999, into the issue.
“Fred Trump has been gone for nearly 20 years and it’s sad to witness this misleading attack against the Trump family by the failing New York Times,” Sanders said.
The NYT article’s findings were based on an analysis of a huge volume of files containing tax declarations and other documents.