"The Tax Department is reviewing the allegations in the NYT article and is vigorously pursuing all appropriate avenues of investigation," a spokesperson told CNBC.
The New York Times report alleges Donald Trump "participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents."
The Times' deep dive explodes the President's claim he is a self-made billionaire, and details what appears to be clearly illegal activity.
Trump at the very least could be subject to tens of millions of dollars in civil penalties.
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