Michael Cohen owes $1.9M to IRS: Report

Michael Cohen, the former personal lawyer and “fixer” for President Trump, was handed a federal tax lien in excess of $1.9 million from the IRS, according to a report.

Continue Reading Below

The debt stems from unpaid personal income that both Cohen and his wife, Laura, owe for the year ending Dec. 31, 2018, according to the New York Post, citing paperwork filed within the City’s Register’s Office.

The lien filed last week says the agency “made a demand for payment of this liability, but it remains unpaid,” the report said.

Cohen was also previously imposed with over $1.4 million in fines and restitution by the IRS following his guilty plea last year, according to the City’s Register’s Office.

Cohen, who once said he would “take a bullet” for Trump, admitted to several charges including tax evasion and campaign finance violations which included facilitating hush-money payments made to protect his former boss. Cohen previously said in court that Trump directed him to arrange payments of $130,000 to porn star Stormy Daniels and $150,000 to former Playboy model Karen McDougal to buy their silence about alleged affairs before the election.

Cohen also failed to report more than $4 million in income on his federal tax returns between 2012 and 2016.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Trump has denied directing Cohen to break the law and has asserted this in a barrage of tweets, although explanations from him and his personal lawyer Rudy Giuliani have shifted multiple times since.

Cohen is currently serving a three-year sentence for his crimes.

David Schwartz, a lawyer who has spoken on Cohen’s behalf in the past, was not immediately available for comment.

CLICK HERE TO READ MORE ON FOX BUSINESS

The Associated Press contributed to this report.