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Michael Cohen explains that "Real Reason" Trump hides his tax returns



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Former Trump Attorney Michael Cohen testifies to the Home Inspection Committee

WASHINGTON, DC – February 27: Michael Cohen, former Attorney and Recorder of President Donald Trump, testifies to the Capitol Hill on February 27 in Washington. Last year, Cohen was sentenced to three yearsGetty Images

Since the 2016 presidential campaign, Donald Trump has claimed he cannot afford his tax returns because he is checking. But his former lawyer, Michael Cohen, questioned this objection on Wednesday when he answered a question about "real reason", the president refused to disclose his tax returns.

"What he didn't want," Cohen testified before the House Inspection and Reform Committee. Finally, an audit is carried out, and finally with tax consequences, penalties and so on.

Cohen asked if the President was actually in control in 2016. – I do not know the answer. I asked for a copy of the check to use for my press statements and I could never get it.

"I assume you are not under control," Cohen added.

The spokesman for the president's company did not respond immediately to the remarks.

It's no secret that President Trump has been trying to avoid taxes for decades. The first time you landed on the pages ForbesIn 1982, the magazine noted that in downtown Manhattan it had been "the greatest tax cut ever." Four years later, Forbes pointed out the $ 100 million tax relief at Trump Tower. One year after the New York City Mayor, in addition to the tax incentives for a third project, Trump called the official name in a dirty way.

It is less clear whether Trump broke the law during his crusade for years of customary taxes. One test released last year New York Times He accused Trump of fraud, saying he and his brothers inherited the majority of their father's property affairs in 1997 and claimed that tax returns on the value of their holdings were only $ 41 million. According to the newspaper, the property sold more than 16 times this amount. Underestimating them, the Trump family said they had avoided hundreds of millions of taxes.

Trump's lawyer called last year's "100 percent fake" claims. On Wednesday, Cohen said he didn't know if the report was accurate. – I wasn't there in the 1990s.

But he highlighted recent efforts to reduce the President's tax number by questioning the country's values. Such maneuvers are common in the real estate industry, but Trump is of paramount importance. In Palm Beach, Florida, told officials that one of its golf courses is worth $ 5 million or less Washington Postdespite being told in other documents that it was over $ 50 million. "This is the same thing as the Brumpcliff Castle in Trump National Golf Club," said Cohen, referring to a New York golf course. "What you do is lower the value of the asset and then ask the tax office to deduct it."

President Trump is much more famous for overestimating the value of his assets than underestimating. For over 30 years she has confused Forbes over its net worth, claiming to be much richer than it was. "According to my experience, Mr. Trump raised his entire property when he was serving his purposes, such as the list of the richest people. Forbes"Cohen said," and lowered his wealth to reduce property taxes.

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Former Trump Attorney Michael Cohen testifies to the Home Inspection Committee

WASHINGTON, DC – February 27: Michael Cohen, former Attorney and Recorder of President Donald Trump, testifies to the Capitol Hill on February 27 in Washington. Last year, Cohen was sentenced to three yearsGetty Images

Since the 2016 presidential campaign, Donald Trump has claimed he cannot afford his tax returns because he is checking. But his former lawyer, Michael Cohen, questioned this objection on Wednesday when he answered a question about "real reason", the president refused to disclose his tax returns.

"What he didn't want," Cohen testified before the House Inspection and Reform Committee. Finally, an audit is carried out, and finally with tax consequences, penalties and so on.

Cohen asked if the President was actually in control in 2016. – I do not know the answer. I asked for a copy of the check to use for my press statements and I could never get it.

"I assume you are not under control," Cohen added.

The spokesman for the president's company did not respond immediately to the remarks.

It's no secret that President Trump has been trying to avoid taxes for decades. The first time you landed on the pages ForbesIn 1982, the magazine noted that in downtown Manhattan it had been "the greatest tax cut ever." Four years later, Forbes pointed out the $ 100 million tax relief at Trump Tower. One year after the New York City Mayor, in addition to the tax incentives for a third project, Trump called the official name in a dirty way.

It is less clear whether Trump broke the law during his crusade for years of customary taxes. Last year's study published a New York Times He accused Trump of fraud, saying he and his brothers inherited the majority of their father's property affairs in 1997 and claimed that tax returns on the value of their holdings were only $ 41 million. According to the newspaper, the property sold more than 16 times this amount. Underestimating them, the Trump family said they had avoided hundreds of millions of taxes.

Trump's lawyer called last year's "100 percent fake" claims. On Wednesday, Cohen said he didn't know if the report was accurate. – I wasn't there in the 1990s.

But he has highlighted recent efforts to reduce the President's tax number by questioning real estate valuations across the country. Such maneuvers are common in the real estate industry, but Trump is of paramount importance. In Palm Beach, Florida, he told officials that one of his golf courses, according to the Washington Post, was $ 5 million or less, despite saying in other documents that he was worth over $ 50 million. "This is the same thing as the Brumpcliff Castle in Trump National Golf Club," said Cohen, referring to a New York golf course. "What you do is lower the value of the asset and then ask the tax office to deduct it."

President Trump is much more famous for overestimating the value of his assets than underestimating. It has been mixed for over 30 years Forbes over its net worth, claiming to be much richer than it was. "According to my experience, Mr. Trump raised his entire property when he was serving his purposes, such as the list of the richest people. Forbes"Cohen said," and lowered his wealth to reduce property taxes.

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