From the New York November issue: Let’s face it. Stories about people’s taxes don’t typically lend themselves to juicy scoops for journalists. The federal IRS code is complex and confusing even for the most erudite tax specialists. And given the privacy of individual filings, the facts can be difficult to nail down and will likely involve making a presumption that no one other than the person in question, and his or her accountant, can confirm.
Still, when the New York Times revealed that the then-Republican nominee Donald Trump (now president-elect) posted a staggering personal loss of $915.7 million in 1995, it was the biggest story of the 2016 election campaign season. [more]