IRS auctions off Trump's D.C. hotel, proceeds to fund National Endowment for the Arts
WASHINGTON D.C. -- Trump International D.C. is no more. On Wednesday, the Internal Revenue Service announced it had successfully auctioned off a Pennsylvania Avenue property that till recently operated as a hotel in order to cover the "hundreds of millions" that Donald Trump owes in back taxes.
The property fetched $160 million at auction. According to Sotheby's, it was bought by Snoop Dog, who stipulated that all proceeds from the hotel sale go to support the National Endowment for the Arts.
Hotel experts said few tourists will miss Trump International D.C., which earned poor reviews on websites like Tripadvisor, where guests staying at the hotel repeatedly complained about being unable to turn off their rooms’ televisions. "They only air one channel, Fox News! And the lobby bar only serves one alcoholic beverage - White Russian!" wrote one such guest.
Trump is expected to file for bankruptcy.
After a multi-year audit, the IRS accused Trump of tax fraud in January, after the former reality TV star lost November's election to President Hillary Rodham Clinton by 3 million votes.
"That's the reason he was under audit all those years," said an agency spokesman. "He's never paid a dime in taxes. Zero."