New York Opens Tax Inquiry Into Trump Following Bombshell NYT Article

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New York state tax officials are looking into allegations of fraud and tax evasion by Donald Trump after a NYT report.

Following an extensive New York Times investigative report, detailing what the newspaper called “instances of outright fraud”, New York state tax officials are looking into the allegations.


> The Times reported on Tuesday that Trump and his family committed "instances of outright fraud" in order to transfer millions of dollars from the real estate empire of the president's father, Fred Trump, to his children without paying the appropriate taxes.


> "The Tax Department is reviewing the allegations in the NYT article and is vigorously pursuing all appropriate avenues of investigation," a spokesman from the New York State Department of Taxation and Finance said in an email to CNBC.



> The article claims the Trump family committed "instances of outright fraud," with the president himself receiving today's equivalent of $413 million from the real estate holdings of his father, the Times reported while citing 100,000 documents and interviews with former family associates.

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