Kushner, a senior White House adviser and President Trump's son-in-law, managed to avoid hefty tax bills thanks to millions of dollars in losses he recorded.
A panel of 13 attorneys and tax accountants reviewed the documents and concluded that Kushner paid "little or no" federal income taxes in five of the eight years - and only slightly more in the other three. But the losses were only on paper - Mr. Kushner and his company did not appear to actually lose any money. They found that he and his family's NY real-estate firm used a common tax deduction known as depreciation, which is created to protect property owners from an asset's gradual decline in value.
After reviewing "confidential financial documents" pertaining to Kushner's business dealings and finances between 2009 and 2016, the Times reported that the documents did not indicate that Kushner or his company had done something illegal.
"The New York Times' allegations of fraud and tax evasion are 100 percent false, and highly defamatory", Harder said, according to the paper.
His net worth is nearly at $324 million, The Times reported.
Kushner Cos, the family company for which Mr Kushner previously served as chief executive, has been profitable in recent years, the Times said, citing the analysis.
In one example from 2015 included in The Times' report, Kushner made $1.7 million in salary and investments but listed a loss of $8.3 million due to "significant depreciation" of the company's real estate, which would have diminished the taxes owed.
There are no existing regulations that govern reported losses' relations to lenders for real-estate firms.
The Times' findings on what it described as Kushner's "tax-minimizing maneuver" contrast with its extensive investigation into Trump's family's wealth.
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".
Real estate tax law allows for an asset's gradual decline in value, a perk known as depreciation that poses generous benefits for investors in the form of a deduction of eligible income that decreases the amount of taxes paid on a given asset.
The son of a US President used the scheme of tax evasion.