President Donald Trump is terrified he could receive a large bill from the Internal Revenue Service or be the first president to end up behind bars, Michael Cohen, his former personal attorney, said following the release of an extensive investigative report on the president’s finances.
The New York Times report, which covered over 20 years of the president’s tax records, showed Trump using losses at his various business and personal expenses to seemingly justify taking massive tax deductions. It included a $70,000 haircut and hairstyling for “The Apprentice” and a $95,464 payment to Ivanka Trump’s favorite makeup artist.
In an interview with Yahoo News, Cohen said that the New York Times report on Trump’s tax records supports his longtime claim that the president has committed fraud throughout his career. The former attorney also said Trump’s fear includes receiving fraud penalties, fines, or a tax fraud case.
“His biggest fear is … he will end up with a massive tax bill, fraud penalties, fines, and possibly even tax fraud,” he said.
“Donald Trump’s financial records are the Rosetta Stone for understanding the depth of his corruption and crimes. The more it is unraveled, the more he will unravel. It’s the reason he’s fought so hard to keep it under wraps.”
Cohen’s comments are similar to others he has made since resigning from his position as Trump’s personal lawyer and pleading guilty to campaign finance violations.
The former attorney first revealed his allegation surrounding the president’s finances in a hearing held by the House Oversight and Reform Committee in 2019, The Hill reported. In that hearing, he said Trump had lied about his income for tax purposes. He also said the president could release his tax returns publicly at any time because he was not under IRS audit, despite Trump’s insistence that the files are under review.
“I asked for a copy of the audit so that I could use it in terms of my statements to the press, and I was never able to obtain one,” he told the committee last year.
The disbarred attorney tweeted a passage from his memoir where he said the president called the IRS stupid after they gave him a tax refund for $10 million. Cohen also said that Trump should be given 360 years in prison for tax evasion.
“So if I went to jail for 36 months on tax evasion, which probably should have been tax omission, Donald Trump should do 360 years, based upon the numbers.”