The Republicans’ report warned the Democrats’ actions triggered “a new cycle of political retribution in Congress.”
“Democrats will come to regret this,” they said. “And they may regret it sooner than they think.”
Trump, whose companies own properties all over the world, reported making $45.8 million in 2018 before expenses in two dozen countries including the United Kingdom, Ireland, Indonesia, India, and an unnamed country not listed in the IRS database of country codes.
He paid about $344,000 in foreign taxes that year. He paid $1,340 in India, $429 in Uruguay, and $342,315 in an unnamed country. Trump also claimed carryover that resulted in a foreign tax credit just under $1.3 million. The Joint Committee on Taxation recommended the IRS request receipts to verify the tax payments.
Here are some of the major issues the Joint Committee on Taxation previously raised about Trump's taxes:
The filings raise questions about “whether these were valid trade or business activities” or “costs derived from personal activities or hobbies,” the committee experts wrote. The returns show:
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