BREAKING: Democrats in Congress released six years' worth of former President Donald Trump’s tax returns on Friday.
Trump’s longtime accounting firm has since disavowed the statements, and New York Attorney General Letitia James has filed a lawsuit alleging Trump and his Trump Organization inflated asset values on the statements as part of a yearslong fraud. Trump and his company have denied wrongdoing.
The IRS only began to audit Trump’s 2016 tax filings on April 3, 2019 — more than two years into his presidency — when the committee chairman, Rep. Richard Neal, D-Mass., asked the agency for information related to the tax returns. The House passed a bill in response that would require audits of any president’s income tax filings. Republicans strongly opposed the legislation, raising concerns that a law requiring audits would infringe on taxpayer privacy and could lead to audits being weaponized for political gain.
Every president and major-party candidate since Richard Nixon has voluntarily made at least summaries of their tax information available to the public. Trump bucked that trend as a candidate and as president, repeatedly asserting that his taxes were “under audit” and couldn’t be released.
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