Exclusive: House Ways and Means Cmte. is readying a request for years of President Trump’s personal tax returns that is expected to land at the IRS as early as the next few weeks, according to congressional aides involved in the process.
There are several key pieces of information Cohen, Trump’s former personal “fixer” and attorney, provided in his testimony that strengthen the case for Congress to obtain the returns, according to the aides, who spoke on the condition of anonymity because they were not authorized to speak publicly.
The U.S. tax code authorizes the Ways and Means Committee to obtain any U.S. taxpayers’ returns. Yet committee lawyers are expected to craft a request as precise as possible, aides said, in order to short circuit an all-but-certain legal challenge by the president that could draw the process out. Trump uses LLCs to house and manage his assets, as many wealthy individuals and businesses do, particularly in real estate. Under this arrangement, business income can also"pass through" the LLC to the owner's individual tax returns.
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