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New York authorities investigating millions in tax write-offs from the Trump Organization

November 20, 2020. Summarized by summa-bot.

President Donald Trump speaks in the Rose Garden of the White House, Friday, Nov. 13, 2020, in Washington. (AP Photo/Evan Vucci)

New York authorities investigating the Trump Organization have expanded their inquiries to include tax write-offs involving millions of dollars in consulting fees, according to people familiar with the investigation.

Washington (CNN)New York authorities investigating the Trump Organization have expanded their inquiries to include tax write-offs involving millions of dollars in consulting fees, according to people familiar with the investigation.

Investigators with the Manhattan district attorney's office, which is conducting a broad criminal investigation, and the New York attorney general's office, which has a civil inquiry under way, have subpoenaed the Trump Organization seeking records relating to the consulting fees.

The subpoenas were in response to a New York Times investigation into President Donald Trump's tax returns that first disclosed that he took $26 million in write-offs that came from fees he paid to consultants, including an apparent $747,000 fee that the Times said matched a payment disclosed by Trump's daughter, Ivanka Trump.

Representatives for the Manhattan district attorney, New York attorney general and Trump Organization declined to comment.

The New York investigations are the most serious facing Trump as he leaves office and becomes a private citizen.

The New York attorney general's investigation is focusing on whether the Trump Organization or Trump improperly inflated the value of certain assets in violation of tax laws or when seeking loans and the forgiveness of a $100 million loan.

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