Report: Donald Trump Committed Tax Fraud to Receive Equivalent of $413 Million From His Father

In another instance, according to the Times, Trump and his siblings used a company called All County Building Supply & Maintenance to buy supplies and equipment for Fred Trump's buildings. However, the company only claimed such purchases that had already been made by Fred Trump's company and increased how much the items cost. Effectively the money spent was untaxed gifts that the president, his siblings, as well as a cousin, gained as owners of the company.

In a statement to Newsweek after the publication of the Times' story, the New York State Department of Taxation and Finance said it was looking into the allegations.