The president has been under investigation into his finances by two independent investigations in New York since 2019. One under the direction of Manhattan District Attorney Cyrus Vance Jr. initially focused on the Trump organization’s role in paying off porn actor Stormy Daniels for keeping silent about an alleged affair with Trump. The other, a civilian investigation led by New York Attorney General Letitia James, was sparked after former President’s attorney Michael Cohen testified that Trump drastically exaggerated his fortune to get credit.
The Times reported Thursday, citing knowledgeable people, that this investigation has since been expanded to include advisory fees, which have been deducted to lower the president’s taxable income. The two investigations have cited the Trump Organization for the past few weeks, the Times reported, and some of those consultation fees appear to have gone to Ivanka Trump.
Ivanka Trump dismissed the probes as political hit jobs. Both Vance and James are Democrats.
Trump deducted around $ 26 million in fees to unnamed advisors between 2010 and 2018, and some of those fees were paired with exactly $ 747,622 that Ivanka Trump received from a consulting firm she is a part-owner of, according to The Times was. According to the Times report, Ivanka Trump does not appear to be at the center of the investigation.
The Times article comes after the Newspaper revealed damn information based on the president’s tax records dating back decades. The president evaded federal income taxes by reporting losses greater than gains each year, The Times reported. Trump paid just $ 750 in federal income tax in 2016, The Times revealed, and paid no federal income tax for some of the past 15 years.
The president has dismissed the Times investigation, claiming he had “prepaid” tens of millions of dollars in taxes over several years. He has refused to publish his tax returns because they are under IRS review.