The New York State Tax Department has confirmed it is investigating a report by the New York Times that President Donald Trump helped his parents dodge millions of dollars in taxes.
According to the paper, the president was involved in “dubious tax schemes during the 1990s, including instances of outright fraud”.
White House spokeswoman Sarah Sanders called the story a “misleading attack”.
She said the transactions were signed off by tax authorities “decades ago”.
The president himself has not commented, but his lawyer Charles Harder said in a statement: “There was no fraud or tax evasion by anyone. The facts upon which The Times bases its false allegations are extremely inaccurate.”
Mr. Trump has repeatedly styled himself as a self-made billionaire who got little help from his wealthy father’s property empire, says BBC.
But in a special investigation based on more than 100,000 pages of documents, the New York Times alleges that the president actually received the equivalent of 413 million Dollars.
The paper claims that by age 3, Mr. Trump was earning 200,000 Dollars a year in today’s money from his father’s empire.
It also alleges that “he was a millionaire by age 8”.