 Report Exposes How Trump Dodged $20 Million In Taxes (PHOTO EVIDENCE)Donald Trump was involved at the highest levels in a cozy real estate deal that allowed $20 million in taxes owed to the federal government to go uncollected. The revelation comes as Trump still refuses to disclose his income taxes even as it emerged that years ago he paid no taxes, despite being a multi-millionaire (he claims to be a billionaire, but there is no independent proof of that).Trump s machinations were revealed by the British newspaper The Telegraph.The billionaire approved a $50 million investment in a company   only for the deal to be rewritten several weeks later as a  loan .Experts say that the effect of this move was to skirt vast tax liabilities, and court papers seen by the Telegraph allege that the deal amounted to fraud.Independent tax accountants and lawyers said that the documents Mr Trump signed   copies of which were obtained by this newspaper as part of a three-month investigation   contained  red flags  indicating the deal was irregular.The paper has also obtained the document making the deal, including Trump s one, unique signature.Kack Blum, chairman of the Tax Justice Network and a financial crime attorney told the paper that Trump is the  poster child  for elites that avoid their taxes, while the burden to make up the shortfall in revenue falls on the shoulders of middle-class Americans.Under New York law, up to 40 percent in taxes should have been paid on the deal if it went through as a traditional transaction. But since Trump was able to get the transfer of funds classified as a  loan,  taxes were completely avoided. Former employees of the company Trump was involved in, Bayrock, said that $20 million in taxes went uncollected.A professor of law and director of tax at the University of San Diego told the Telegraph that the he doesn t think the deal signed by Trump  would survive a challenge  by the IRS.Featured image via The TelegraphNews
report exposes how trump lodged million in taxes photo evidence donald trump involved highest levels copy real estate deal allowed million taxes owed federal government go collected the revelation comes trump still refuses disclose income taxes even emerged years ago paid taxes despite claims billionaire independent proof machinations revealed british newspaper the billionaire approved million investment company deal rewritten several weeks later loan say effect move skirt vast tax liabilities court papers seen telegraph allege deal amounted tax accountants lawyers said documents mr trump signed copies obtained newspaper part investigation contained red flags indicating deal paper also obtained document making deal including trump one unique blue chairman tax justice network financial crime attorney told paper trump poster child elites avoid taxes burden make shortfall revenue falls shoulders new york law percent taxes paid deal went traditional transaction but since trump able get transfer funds classified loan taxes completely avoided former employees company trump involved bedrock said million taxes went professor law director tax university san diego told telegraph think deal signed trump would survive challenge image via the telegraphnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT:  Report Exposes How Trump Dodged $20 Million In Taxes (PHOTO EVIDENCE)Donald Trump was involved at the highest levels in a cozy real estate deal that allowed $20 million in taxes owed to the federal government to go uncollected. The revelation comes as Trump still refuses to disclose his income taxes even as it emerged that years ago he paid no taxes, despite being a multi-millionaire (he claims to be a billionaire, but there is no independent proof of that).Trump s machinations were revealed by the British newspaper The Telegraph.The billionaire approved a $50 million investment in a company   only for the deal to be rewritten several weeks later as a  loan .Experts say that the effect of this move was to skirt vast tax liabilities, and court papers seen by the Telegraph allege that the deal amounted to fraud.Independent tax accountants and lawyers said that the documents Mr Trump signed   copies of which were obtained by this newspaper as part of a three-month investigation   contained  red flags  indicating the deal was irregular.The paper has also obtained the document making the deal, including Trump s one, unique signature.Kack Blum, chairman of the Tax Justice Network and a financial crime attorney told the paper that Trump is the  poster child  for elites that avoid their taxes, while the burden to make up the shortfall in revenue falls on the shoulders of middle-class Americans.Under New York law, up to 40 percent in taxes should have been paid on the deal if it went through as a traditional transaction. But since Trump was able to get the transfer of funds classified as a  loan,  taxes were completely avoided. Former employees of the company Trump was involved in, Bayrock, said that $20 million in taxes went uncollected.A professor of law and director of tax at the University of San Diego told the Telegraph that the he doesn t think the deal signed by Trump  would survive a challenge  by the IRS.Featured image via The TelegraphNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: report exposes how trump lodged million in taxes photo evidence donald trump involved highest levels copy real estate deal allowed million taxes owed federal government go collected the revelation comes trump still refuses disclose income taxes even emerged years ago paid taxes despite claims billionaire independent proof machinations revealed british newspaper the billionaire approved million investment company deal rewritten several weeks later loan say effect move skirt vast tax liabilities court papers seen telegraph allege deal amounted tax accountants lawyers said documents mr trump signed copies obtained newspaper part investigation contained red flags indicating deal paper also obtained document making deal including trump one unique blue chairman tax justice network financial crime attorney told paper trump poster child elites avoid taxes burden make shortfall revenue falls shoulders new york law percent taxes paid deal went traditional transaction but since trump able get transfer funds classified loan taxes completely avoided former employees company trump involved bedrock said million taxes went professor law director tax university san diego told telegraph think deal signed trump would survive challenge image via the telegraphnews