Washington: President Donald Trump’s personal lawyers said his tax returns from the past 10 years show that -- with a few exceptions -- he received no income from Russian sources and owed no debts to Russian lenders. The letter dated March 8 was sent to the president by Sheri Dillon and William Nelson, partners at Morgan Lewis & Bockius LLP. Beyond that, the more than 500 entities that make up the Trump Organization received “immaterial” amounts from sales of goods and services by the Trump Organization to Russians or Russian entities. The White House forwarded the March letter to Senator Lindsey Graham, a South Carolina Republican, to show he’s not involved in Russia, Trump said in an NBC interview that aired Thursday. As president, his audits may continue -- Trump is subject to administrative procedures by the Internal Revenue Service that call for mandatory examinations of the chief executive’s tax returns.

Source: Mint May 12, 2017 17:03 UTC