In 2019, when the trust fund baby was still POTUS, The House Ways and Means Committee requested copies of his tax return, and the tax returns of several Trump legal entities, for an inquiry into how the IRS audits presidential tax returns. By law, the tax agency audits the returns of a sitting president every year.. Trump broke decades of tradition by refusing to publicly release his tax returns. When the committee first asked for Trump’s returns three years ago, the Treasury Department refused to turn them over. The panel then filed a lawsuit seeking to obtain the records. The department dropped its resistance to the committee after President Joe Biden took office. Trump then sued to block the release of the records. The former president lost that effort at the federal district court and appeals court levels, where judges ruled that the Ways and Means Committee had a clear-cut right under federal law to obtain the records, and had stated a legitimate legislative purpose for the request. Orange hair then asked the Supreme Court for an emergency order blocking the committee from getting the returns. A temporary block was granted by the Supreme Court. But on Nov. 22, that nine-member court, without any dissents, rejected Trump’s request to maintain block, setting the stage for the IRS to deliver the returns to the Ways and Means Committee. And on 30 Nov, The House Ways and Means Committee has obtained years worth of federal income tax returns of former President Donald Trump, a week after the Supreme Court rejected his effort to block that Democratic-controlled panel from getting those records from the IRS.
House Ways & Means committee voted on Tuesday to release partially redacted tax filings from former POTUS DJ Trump and said the IRS did not follow its own rules when it failed to audit Trump's tax returns during three of his four years in office. cursory reviews of the newly released tax returns disclose loans to his adult children, in the millions, that should have been reported as gifts who are subject to taxation; a multi-hundred million operating loss carryforward from one of his cos, DJT enterpises
since 1977, pre-Trump, every year, IRS had been following its policy of auditing the POTUS' tax return. Trump was POTUS from tax years 2016 to 2019; according to the committee report, only 2016 was selected for audit. and the audit was not completed. so, Trump lied when he said that he has been audited every year. also, it appears that cash donations were not substantiated.
another gaslighting victim by the right wing media. for the education of Commodore, the Congress is not involved. Under longstanding IRS policy, both the president and vice president are subject to automatic IRS tax audits every year. The IRS already has their tax returns. Each year, the IRS automatically selects the tax returns (POTUS & VPOTUS) for audit. it has been IRS's practice, since 1977---excluding Trump and including Obama and Biden---to select POTUS' tax return for audit every year. According to the committee's report, Trump's 2016 return was selected for audit; but the audit was stopped half way thru. bur during Trump's last 3 years in office, IRS had ignored its policy and stop selecting POTUS's tax return for audit. But it did audit VPOTUS (Pence) tax return It has continued the practice once Biden took office.
The IRS can't release someone's tax returns to the public. Under this new standard, Congress can snoop into anyone's tax returns and also release them to the public.
Deflect, Deflect, Deflect..............why oh why do you think trump LIED and LIED and LIED and never produced them? Because they were so friggin awesome? Come on man, the chickens are coming home to roost
Hmmm, it appears that Congress has only seized and released Trump’s returns because he failed to do so as President. So, based on that sample size of one, it would appear that Congress will next seize and released tax returns…when a President refuses to do so. now see, that wasn’t so hard.
you know, you’re right. They could do that to you. To me. To jalen green. To Jose Altuve. Interestingly, they could have done that before they did it to Trump. But they somehow didn’t. But we should lose a lot of sleep over that now. I’m sure Tucker Carlson has told his audience that Congress is coming for your tax returns too.
I don't have a funny meme, but you can educate yourself by reading this How Trump lost the fight over tax returns — and the clock Democrats face https://www.washingtonpost.com/business/2022/11/23/trump-taxes-supreme-court/
Opinion: The many scandals Trump’s tax records reveal https://www.washingtonpost.com/opinions/2022/12/21/trump-tax-records-irs-scandals/ excerpt: In April 2019, on the very day the committee inquired about the status of mandatory presidential audits, the IRS notified Mr. Trump that his 2015 return would be examined. But the audit was assigned mainly to one agent, and Mr. Trump threw sand in the gears. The lone IRS employee had to review a return that included over 400 pass-through entities, numerous schedules, foreign tax credits and millions in carried-over losses from previous years. *** An internal IRS memo said Mr. Trump’s taxes were so complicated that “it is not possible to obtain the resources available to examine all potential issues.” In other words, even if the agency wanted, it lacked the resources for a thorough review. The congressional report recommends that the IRS assign two senior agents, as well as specialists on partnerships, foreign transactions and financial products, to ensure all presidential audits are complete and timely. This is a no-brainer. Alas, this problem is bigger than Mr. Trump. Former IRS commissioner Charles Rettig has testified the agency lacks the resources to closely scrutinize the filings of many people in Mr. Trump’s stratum. “We get outgunned routinely,” he said. No American should be too big to audit. more at the link
Why is everyone so mean to Trump, why do they investigate so many of his activities, actions, and statements? There must be a simple reason. And I will use Sir Block'em's Razor: Spoiler Indeed, it is only because Trump is trying to make America Grate once more. That is the reason so many people, including former colleagues and former allies, are so mean to this grate man. They are all jealous and also hate America, by which I mean Trump, because America and Trump are the same.
ur confused; It is the IRS; not Congress since 1977---spanning 10 presidential administrations---- every year (except the last 3 years of the Trump presidency) the IRS automatically selects tax returns (of the POTUS / VPOTUS) for audit.
he isn’t confused. He is obtuse. Willfully stupid. Repeats Tucker Carlson talking points. Lacks brain or will to think.
You. You can raise money and go get out the vote to try to vote out people who authorize the release of tax returns.
This is an issue that I defend Trump on. There are two issues about the the same subject. Trump not releasing his returns as a candidate and as the president. As a candidate most if not all candidates are public officials. We know how much money they make. It's no big deal. Tax returns aren't just about income but as long as a guy isn't in trouble with the IRS I don't understand why people care As president were his tax returns were audited. If so why does the Ways and Means Committee need him to give them to them? That's a legitimate question by Commodore. As far as the 2015 return not being audited, that's an IRS issue surrounding the difficulty of audited complicated tax returns
