The White House senior adviser and former chief of Kushner Companies may have paid little, if any, federal income tax for years between 2009 and 2016, according to documents obtained by the New York Times that show Kushner's businesses, earnings, expenses, debt obligations and some information from his federal tax filings.
Tax bills reviewed by the publication reveal what the Times calls a "common tax-minimizing maneuver" that allowed Kushner and his real estate firm, Kushner Companies, to mark losses on paper without actually losing any money.
Documents released by the White House in June showed Kushner held assets worth at least $181 million, the Associated Press reported.
Thirteen tax accountants and lawyers, including J. Richard Harvey Jr., a tax official in the Reagan, George W. Bush and Obama administrations, reviewed the documents for The Times.
He added, "Always following the advice of numerous attorneys and accountants, Mr. Kushner properly filed and paid all taxes due under the law and regulations". Kushner did not break the law, however, when he marked his losses through depreciation, a tax benefit that allowed his company to deduct a portion of the cost of its buildings from its taxable income each year.
Peter Mirijanian, a spokesman for Mr. Kushner's lawyer, Abbe Lowell, said he would not respond to assumptions derived from documents that provide an incomplete picture and were "obtained in violation of the law and standard business confidentiality agreements".
The White House and Kushner Cos did not immediately comment Saturday.