Donald Trump may have some more explaining to do. According to reports, an IRS audit has revealed that Trump may owe a whopping $100m in unpaid taxes after it was reportedly found he double-dipped on deductions.
The Lowdown
The New York Times got its hands on an IRS audit in connection to Donald Trump ‘s shining tower in Chicago. According to the Times, an IRS audit allegedly found that Trump double-dipped on deductions dating back to twenty-ten. It is said he took the same deductions both years but didn’t indicate they were the same item.
Where it went wrong
Audits revealed that the first break took place way back in 2008 when he claimed that the huge shining tower met the threshold for it to otherwise be classified as worthless but then claimed them again two years later. At that point, it is said that accountants for Trump had attempted to use the deduction benefits even further by transferring the company that owned the Shining Tower into an entirely new partnership.
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