The “alternative minimum tax” (AMT), which was introduced to ensure the mega wealthy pay a fairer share of tax, comprised $31m of Trump’s tax bill compared to $5.3m in regular federal income tax. It is not a violation of the law to publish leaked tax returns. The documents indicate that Trump paid an effective federal income tax of about 25% in 2005 and reported a $105m write-down. #TaxesEither way, Tuesday’s partial disclosure will further pressure the White House to publish the president’s tax returns in full. Ford released a summary of data from eight years of tax returns but did not disclose the full documents.

Source: The Guardian March 15, 2017 02:21 UTC