The tax agency concluded in its long-running investigation that Trump effectively claimed the same massive write-off twice on his failed Chicago tower.
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The Big Story
Sat. May 11, 2024
I’m Paul Kiel. I’ve been covering the U.S. tax system since 2018, and my latest story, reported with Russ Buettner of The New York Times, “IRS Audit of Trump Could Cost Former President More Than $100 Million <[link removed]>” is out today. Do you remember how, as a candidate back in 2016, Donald Trump kept saying he couldn’t release his tax returns because he was under audit? Even eight years later, very little has come out about that long-running audit. So we went looking. Using publicly available sources like an IRS legal memo and info from different investigations of the former president, as well as our analysis of Trump’s leaked tax return information, we were able to piece together the first detailed look at what Trump did and why the IRS has questioned it.
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IRS Audit of Trump Could Cost Former President More Than $100 Million <[link removed]> The tax agency concluded in its long-running investigation that Trump effectively claimed the same massive write-off twice on his failed Chicago tower. by Paul Kiel, ProPublica, and Russ Buettner, The New York Times
VIEW STORY <[link removed]>
The Secret IRS Files
The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax <[link removed]> ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing. by Jesse Eisinger, Jeff Ernsthausen and Paul Kiel <[link removed]>
Private Planes and Luxury Yachts Aren’t Just Toys for the Ultrawealthy. They’re Also Huge Tax Breaks. <[link removed]> What’s the only thing better than having your own Gulfstream jet? Why, getting to claim millions in tax deductions for it. All you have to do is make a case you’re using it for business, which turns out to be surprisingly easy. by Paul Kiel <[link removed]>
Ten Ways Billionaires Avoid Taxes on an Epic Scale <[link removed]> After a year of reporting on the tax machinations of the ultrawealthy, ProPublica spotlights the top tax-avoidance techniques that provide massive benefits to billionaires. by Paul Kiel <[link removed]>
Celebrating ProPublica
ProPublica wins Pulitzer <[link removed]>
We’re honored that our Supreme Court reporting was recognized this week with a Pulitzer Prize <[link removed]> for public service, and we made this short video <[link removed]> to celebrate. Our reporting about the botched police response to the Uvalde, Texas, shooting also had the distinction of being a finalist for explanatory reporting. Thank you, as always, for supporting our journalism. We cannot do this without you.
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Oil Companies Contaminated a Family Farm. The Courts and Regulators Let the Drillers Walk Away. <[link removed]> The oil and gas industry has reaped profits without ensuring there will be money to plug and clean up their wells. In Oklahoma, that work could cost more than $7 billion if it falls to the state. by Mark Olalde, ProPublica, and Nick Bowlin, Capital & Main <[link removed]>
Ten Years After the Flint Water Crisis, Distrust and Anger Linger <[link removed]> A city is forever changed, and so is residents’ relationship with their water. The betrayal of trust by the institutions meant to protect Flint’s residents has made some of them extra cautious as they look to keep themselves and their community safe. by Anna Clark and Sarahbeth Maney, Photography by Sarahbeth Maney <[link removed]>
Sports Team Owners Face New Scrutiny From IRS Over Tax Avoidance <[link removed]> A new campaign by the tax agency comes after ProPublica revealed how billionaires generate what can be hundreds of millions in tax savings by purchasing professional sports teams. by Robert Faturechi, Ellis Simani and Justin Elliott <[link removed]>
EPA Proposes Ban on Pesticide Widely Used on Fruits and Vegetables <[link removed]> The ban on acephate comes a week after a ProPublica investigation highlighted the EPA’s controversial finding that the bug killer doesn’t harm the developing brains of children. by Sharon Lerner <[link removed]>
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