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Outcome of Trump's IRS audit by end of 2024
5
Resolution / Starting Odds
No additional taxes due • 33%
Tax payment under $50 million • 33%
Tax payment over $100 million • 34%
Final audit report by the IRS or credible news sources
Story
IRS Audit May Cost Trump Over $100M for 'Double-Dipping' Tax Deductions
May 11, 2024, 03:55 PM
Former President Donald Trump could face a tax bill exceeding $100 million following an IRS audit that revealed he may have claimed the same tax losses twice for his Chicago skyscraper. The investigation, jointly conducted by The New York Times and ProPublica, uncovered that Trump employed questionable accounting tactics, potentially exploiting tax breaks improperly by 'double-dipping' deductions related to his Chicago tower. This financial maneuver involved claiming massive write-offs for the same losses in both 2008 and 2010.
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Settlement reached • 33%
Full payment made • 33%
Case dismissed • 34%
Settled out of court • 33%
Paid in full • 33%
Dismissed • 34%
Settlement reached • 33%
Full penalties imposed • 33%
Case dismissed • 33%
Pays full amount • 25%
Negotiates reduced payment • 25%
Contests the claim legally • 25%
Ignores the claim • 25%
Significantly increased compliance • 33%
Moderately increased compliance • 34%
No change in compliance • 33%
Negatively affected • 50%
No significant impact • 50%