A longtime Trump biographer says a murky financial rescue involving Jeffrey Epstein may explain why President Donald Trump has never released his tax returns. Journalist Michael Wolff, speaking on The Daily Beast podcast Inside Trump’s Head, recalled how Epstein allegedly helped Trump escape more than $1 billion in debt in the early 1990s by engineering loan forgiveness — and then, crucially, a way to avoid paying taxes on it. Wolff said forgiven debt normally counts as taxable income, but claimed Epstein advised Trump on a loophole that kept the IRS at bay, a maneuver Epstein later suggested was a key reason Trump’s returns have remained hidden. The story, Wolff said, sheds unsettling light on Trump’s decades-long secrecy — and on his financial entanglements with the now-disgraced financier.
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