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>> False and highly defamatory.>> The White House has fired back at a New York Times report that US President, Donald Trump helped his parents shield millions of dollars from taxes. The Times investigation released Tuesday, cited a trove of more than 200 confidential tax returns and records and said he and his siblings pulled off tax dodges.
The report says they set up a fake corporation to disguise millions in gifts from their parents. Much of that reportedly happened in the 1990's, Times says it included cases of fraud. Press Secretary Sarah Sanders called it a misleading attack.>> It's a totally false attack based on an old recycled news story, I'm not gonna sit and go through every single line of the very boring 14,000-word story.
>> Reuters has not been able to verify the report. The Times also said it found Trump had received the equivalent today of more than $400 million from the real estate business run by his father, Fred Trump. The Times said says the records did not include Trump's personal tax returns, unlike other recent US presidents, he has declined to release them.
During his 2016 Presidential campaign, Trump promoted himself as a self-made real estate mogul who began with only a, quote, very small loan from his father. The Times cited tax experts in reporting Trump would not likely face criminal prosecution because the acts in action were past the statute of limitations.
However, it also said there is no time limit on civil fines for tax fraud.