The IRS failed to pursue mandatory audits of Donald Trump on a timely basis during his presidency, a congressional panel found. The former president had previously claimed he could not release his tax filings because of the ongoing reviews.
on a timely basis during his presidency, a congressional panel found on Tuesday, raising questions about statements by the former president and leading members of his administration who claimed he could not release his tax filings because of the ongoing reviews.
“Over our objections in opposition, Democrats in the Ways and Means Committee have unleashed a dangerous new political weapon that overturns decades of privacy protections,” he told reporters. “The era of political targeting, and of Congress’s enemies list, is back and every American, every American taxpayer, who may get on the wrong side of the majority in Congress is now at risk.”
“We must express disagreement with the decision not to engage any specialists when facing returns with a high degree of complexity,” the tax committee report states. “We also fail to understand why the fact that counsel and an accounting firm participated in tax preparation ensures the accuracy of the returns.”
There are no laws that would have barred Trump from voluntarily releasing his returns even if they were being audited. But when Trump spoke of being audited, it's unclear whether he was referring to the mandatory process specifically aimed at presidents or prior reviews that are more typical for wealthy individuals.found that before he entered the White House, Trump was facing an IRS audit potentially tied to a $72.9 million tax refund arising from $700 million in losses he claimed in 2009.
In response to the findings, the Ways and Means Committee is proposing legislation to beef up the IRS’s approach, requiring an initial report no later than 90 days from the filing of a president’s tax returns. House Speaker Nancy Pelosi said the chamber would “move swiftly” to advance the legislation.
But Republicans have vowed to cut a recent influx of funding for more IRS agents. That's the first bill they will consider upon taking the House majority in less than two weeks.
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