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How will the tax audit impact Trump's political career by end of 2024?
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Resolution / Starting Odds
Negatively affected • 50%
No significant impact • 50%
Poll results, election outcomes, and expert political analysis
Story
IRS Audit: Trump Faces $100M Tax Bill for 'Double-Dip' Loopholes in Chicago Tower
May 11, 2024, 02:37 PM
Former President Donald Trump may face a $100 million tax bill following an IRS audit that revealed questionable accounting practices involving his Chicago skyscraper. The investigation, conducted jointly by ProPublica and The New York Times, uncovered that Trump potentially exploited accounting loopholes by claiming the same losses twice on his tax returns, a tactic referred to as 'Double-Dip' tax breaks. This maneuver, deemed improper by the IRS, could lead to significant financial repercussions for Trump.
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