(Bloomberg) Donald Trump won’t release any new tax information in response to revelations that he claimed a massive tax loss in 1995 that potentially allowed him to eliminate his federal income-tax bill for almost two decades, according to two people familiar with the campaign’s thinking.
The New York Times reported late Saturday that the Republican presidential nominee recorded a $916 million loss on his 1995 income tax return, and as a result may have been able to reduce his tax bills for as many as 18 years.
The report is expected to increase pressure on Trump to release his tax returns, as major party nominees have for decades. He has said he won’t do so until the Internal Revenue Service concludes an audit. While no law prevents people from disclosing their records while under audit, tax advisers say doing so would subject the returns to public scrutiny that might uncover issues auditors had missed.
