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The New York Times published an exposé on Sunday, alleging that President Donald Trump committed "income tax avoidance" in 2016 and 2017. Trump called the exposé "fake news."

The paper claims Trump paid only $750 in income taxes in those years.

Unlike income tax evasion, income come tax avoidance is totally legal. Millions of Americans pay accountants to help them avoid paying taxes via tax write offs and deductions.

In Trump's case, he took advantage of an exploit in then-President Barack Obama's 2009 stimulus policy that wipes out taxes going back two years. In November 2009, the window was further opened another two years to wipe out taxes going back four years.

"Mr. Trump had paid no income taxes in 2008," according to the National Review. "But the change meant that when he filed his taxes for 2009, he could seek a refund of not just the $13.3 million he had paid in 2007, but also the combined $56.9 million paid in 2005 and 2006..."

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Bloomberg.com

This is not the first time the NYT has analyzed Trump's taxes. In 2016, the paper obtained Trump's 1995 tax return from an anonymous source.

The 1995 tax return showed Trump declared a $916 million loss. Tax laws allow such losses to be carried forward for many years -- offsetting taxes owed on future income.

Trump lost so much money in 1990 and 1991 - $250 million - that he didn't have to pay taxes for the next 8 years.

This is the so-called "income tax avoidance" that the Times claims Trump committed.

From 2005-2007 Trump paid a total of $70.1 million in income taxes. Trump actually paid more income tax than Amazon's Jeff Bezos, the richest man in America.

Like most Americans, Trump doesn't file his own taxes. He has a team of corporate accountants who file his taxes for him. Then another team of tax lawyers pore over the documents to make sure all tax laws, income and deductions are reported accurately.

The Times didn't find anything illegal in Trump's tax returns in 1995, 2016 or 2017. They even noted that all "questioners" looking for a smoking gun in Trump's Tax returns will be "unfulfilled".

Ironically, the New York Times paid no income tax last year.

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The Supreme Court on Thursday ruled President Donald Trump must release his income tax reports and financial documents to NY prosecutors investigating hush money payments as part of a criminal investigation.

In a 7-2 vote, the justices upheld a Manhattan District Attorney subpoena for the last 8 years of Trump's tax reports, including his personal and corporate tax returns, according to TheHill.com.

In his decision, Justice John Roberts writes that the court established unanimously that "No citizen, not even the president, is above the common duty of producing evidence." He went on to say that the president is "not absolutely immune" from state criminal subpoenas seeking his private papers.

In an earlier ruling the lower appeals court directed that the case be returned to the district court where the president may raise further constitutional arguments.

It's unclear whether Trump's tax documents will be released prior to the November elections.

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The week is off to a good start for President Donald Trump who suffered political and personal setbacks last week. The U.S. Supreme Court on Monday blocked a NY Lower court order for Trump to release his tax returns to House Democrats in Congress.

Chief Justice John Roberts delayed the release of the tax returns while the Supreme Court considers Trump's appeal. The temporary stay will block the release of Trump's tax returns indefinitely.

The Supreme Court is also considering a separate pending request from Manhattan District Attorney Cy Vance, who wants to review Trump’s tax returns over allegations that business records were falsified as part of a hush money payment to porn star Stormy Daniels.

A lower court in New York had ordered Trump's longtime accounting firm to turn over the president's financial records to the House Democrats who are in the process of impeaching the president.

Democrats have until Thursday, Nov. 21, to file a response to Chief Justice Roberts' order.

Trump suffered a political defeat after his candidate for governor of Louisiana lost to sitting Governor John Bel Edwards in a state that Trump carried by nearly 20 percentage points in 2016.

Trump had visited the state three times to stump for his candidate, including 48 hours before the gubernatorial election.

Twitter users taunted Trump for tweeting - and deleting - "Louisiana, 3 hours left, get out and vote for @EddieRispone for Governor. Lower taxes and much more!"

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In another setback last week, Trump's friend and former advisor Roger Stone was found guilty on seven charges of lying to Congress, obstruction of Congress, and witness tampering. Stone faces a maximum of 50 years in a federal prison.

Rachel Maddow FAIL

Twitter users dragged MSNBC host Rachel Maddow unmercifully on Tuesday night, after she tweeted she had copies of President Donald Trump's tax returns.

Maddow's tweet turned out to be half true. She didn't have any of Trump's recent tax returns. Her guest, financial analyst and blogger David Cay Johnston, brought Trump's 2005 tax returns with him.

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