Donald Trump’s former accountant revealed that Trump reported billions of dollars in business losses in his tax returns from 2009 to 2018.
The latest information about Trump’s tax records came at a time when the Supreme Court has allowed House Democrats to obtain tax records of Trump.
Trump Faced Massive Business Losses
Donald Bender, an accountant who personally worked on Trump’s tax returns for years, testified in court that the former president lost billions of dollars from 2009 to 2018.
Currently, the Trump Organization is facing multiple legal challenges. Both the Manhattan District attorney and the New York attorney general’s office sued the business empire of the former president.
Bender was testifying in the Manhattan district criminal probe, in which the Trump Organization is accused of overcompensating the high-level officials of the organization in order to avoid taxes.
Trump reported losses on his tax returns every year for a decade, including nearly $700 million in 2009 and $200 million in 2010, his longtime accountant Donald Bender testified. https://t.co/GZHDTKJ1bG
— HuffPost (@HuffPost) November 23, 2022
The latest testimony of Bender came shortly after the Supreme Court’s decision which allowed the House Ways and Means Committee to obtain Trump’s records. Democrats have been struggling to obtain Trump’s tax records for years.
Trump has denied revealing his tax records to Democrats, claiming he is currently facing tax audits. Now, the latest Supreme Court decision will help them to have all the tax records of the former president.
Trump on the 9-0 ruling that Congress gets his tax returns: "The Supreme Court has lost its honor, prestige, and standing, & has become nothing more than a political body, with our Country paying the price. They refused to even look at the Election Hoax of 2020. Shame on them!"
— Laurence Tribe (@tribelaw) November 23, 2022
According to Bender, he filed tax returns for Trump from 2009 to 2018 and the former president faced losses each and every year. In 2009, Trump reported a loss of $700 million on his tax return, while he lost $200 million in 2010.
Poor Times Ahead for Trump?
Bender is a partner with an accountancy firm, Mazars USA. The company worked with the Trump Organization until February, when it parted ways with Trump’s business after realizing the finances of the former president were unreliable.
However, Bender claimed he is not aware of whether the Trump Organization paid exclusive perks like utility rents, parking fees, and thousands of dollars of Christmas fees to its high-level executives.
Former chief financial officer of the Trump Organization, Allen Weisselberg, has already pleaded guilty to numerous charges of tax evasion earlier this year.
Weisselberg claimed it was his personal greed that urged him to commit tax fraud. Reportedly, Weisselberg did not reveal $1.7 million of perks in his tax returns. Weisselberg’s taxes were also handled by Bender.
Manhattan Assistant District Attorney Susan Hoffinger asked Bender how he could be so sure Weisselberg and other top-level executives did not receive extraordinary compensation from the Trump Organization.
Responding to this, Bender stated he would have had a heart attack, had he seen the Trump Organization giving too much compensation to their executives.
Critics believe the Trump Organization cheated tax authorities by giving too much compensation to its executives. The organization is likely to face $1.6 million in fines if found guilty.