President Donald Trump has paid just US$750 – £578 – in federal income taxes the year he ran for president and in his first year in the White House.

According to Evening Standard, this development was disclosed by the New York Times.

It has also been discovered that Mr Trump has fiercely guarded his tax filings, paid no federal income taxes in 10 of the past 15 years, making the only president in modern times not to make them public. However, at a news conference at the White House,

In response to the tax issue, President Trump dismissed the report and tagged it “fake news”, while making comments during a news conference at the White House. He also disclosed that he has paid taxes, though he gave no specifics.

On the Tax, the Times said it comes from tax return data it obtained extending over two decades, which comes ahead of the first presidential debate on Tuesday and weeks before a divisive election against Democrat Joe Biden.

At the moment, the president has vowed that information about his taxes “will all be revealed”

But he offered no timeline for the disclosure and made similar promises during the 2016 campaign on which he never followed through.

In fact, the president has fielded court challenges against those seeking access to his returns, including the US House, which is suing for access to President Trump’s tax returns as part of congressional oversight.

In reaction to the issue,  Alan Garten, A lawyer for the Trump Organisation,and a spokesperson for the Trump Organisation did not immediately respond to a request for comment from The Associated Press.

Mr Garten told the Times that “most, if not all, of the facts appear to be inaccurate”.

Speaking further in a statement to the news organisation, he said the president “has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015”.