Donald Trump paid more in foreign taxes than he did in the US, according to his tax returns.
The hundreds of pages of newly released documents shed light on his international business dealings and financial ties after years of legal battles in which Trump broke from decades of precedent and fought to keep his financial disclosures private.
Even after taking office, Trump kept his financial accounts in China, Ireland, and the UK. He only reported the United Kingdom account.
The former president's income was reported in more than a dozen countries. He paid more in foreign taxes related to his international business dealings than he did in the US.
As he began his campaign for president, Trump paid over $600,000 in federal income taxes, but only paid $750 in the next two years. In the last year of returns that were released, he paid nothing
Tax documents that reveal previously unknown information about the former president's finances are not evidence of legal wrongdoing. Some of the details, such as foreign tax credits and large write-offs, are worth a closer look by auditors.
The return doesn't say what's going to happen. "But there are red flags," said Daniel Shaviro, a taxation professor at New York University.
A summary report of the returns, released by the House Ways and Means Committee last week, showed that the IRS failed to audit former President Trump during his first two years in office.
The committee chairman requested a copy of the former president's taxes.
"This is a major failure of the IRS under the previous administration, and certainly not what we had hoped to find," Neal said. The evidence is irrefutable. Congress needs to act. The program should be above reproach. Ensuring the IRS conducts yearly and timely exams.
"Our work has always been to ensure our tax laws are administered fairly and without preference, because at times the power of a president can loom too large," he said.
Representatives for the House Ways and Means Committee did not reply to Insider's questions.
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