The Trump family’s business dealings have attracted scrutiny from the New York State Department of Taxation and Finance after it was reported that President Trump and his siblings participated in potentially fraudulent tax maneuvers, a new report says.
Trump and his siblings established a fake corporation to conceal millions of dollars in taxable income they received as gifts from their parents, according to the New York Times. The Times also reported that Trump assisted his father in making inappropriate tax deductions, among other things.
A spokesperson for the New York State Department of Taxation and Finance confirmed to CNBC that the tax department was probing allegations concerning the possibly fraudulent actions of the Trump family.
"The Tax Department is reviewing the allegations in the NYT article and is vigorously pursuing all appropriate avenues of investigation," a spokesman from the New York State Department of Taxation and Finance said in an email to CNBC.
The New York State Department of Taxation and Finance did not immediately respond to a request for comment from the Washington Examiner.
Trump declined to comment to the Times, but Charles Harder, an attorney for Trump, told the Times that the allegations were “100 percent false.”
"The New York Times’ allegations of fraud and tax evasion are 100 percent false, and highly defamatory,” Harder said. “There was no fraud or tax evasion by anyone. The facts upon which The Times bases its false allegations are extremely inaccurate."
Harder also said that Trump has “virtually no involvement whatsoever with these matters” and claimed that other Trump family members “who were not experts” managed these issues.