DailyBusinessNews.com

December 2, 2022

An accountant for former President Trump has testified that the former president reported major losses on his tax returns every year for a decade, including a $700 million loss in 2009. 

The losses include net operating losses from some of the businesses he owns through the Trump Organization. 

“There are losses for all these years,” Bender said. 

Bender was granted immunity to testify at the trial. 

The Trump Organization is facing dual probes from the Manhattan district attorney and New York attorney general’s offices over potential financial misdeeds. 

In Manhattan District Attorney Alvin Bragg’s (D) criminal probe, in which Bender testified, the Trump Organization has been charged with helping top executives avoid paying income taxes on the compensation they received on top of their salaries. 

House Democrats have said they need to investigate how the IRS conducts routine presidential audits, while Trump’s lawyers have denounced their attempts as politically motivated. 

Despite the legal victory for the committee, they might not have much time to review the documents, as Republicans will retake the majority in the House in January and are likely to withdraw the committee’s request to review the materials. 

New York Attorney General Letitia James (D) is pursuing a civil suit against the Trump Organization, alleging that Trump inflated property values when working with potential investors and deflated them on federal tax forms.

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