The Trump administration may have disregarded a post-Watergate requirement mandating audits of a president’s tax returns.
House committee is set to release six years of Donald Trump’s tax returns
The committee obtained six years of Trump’s personal and business tax records while investigating what it said in a Dec. 20 report was the Internal Revenue Service’s failure to pursue mandatory audits of Trump on a timely basis during his presidency, as required under the tax agency’s protocol. Trump, known for building skyscrapers and hosting a reality TV show before winning the White House, broke political norms by refusing to make public his returns as he sought the presidency — though he did give some limited details about his holdings and income on mandatory disclosure forms.
A second series in 2020 showed that Trump paid just $750 in federal income taxes in 2017 and 2018, as well as no income taxes at all in 10 of the past 15 years because he generally lost more money than he made.
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