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Tuesday, December 20, 2022 8:34:50 PM
Other presidents released theirs. Why did he refuse to. Live Updates: House Committee Approves Release of Trump’s Taxes
The House Ways and Means Committee voted to release six years of Mr. Trump’s tax returns, and members revealed that the I.R.S. failed to follow its own policy because it did not audit Mr. Trump during his first two years in office. It may be days before the tax information is revealed.
The Supreme Court paved the way for Tuesday’s vote by declining former President Trump’s request to block lawmakers from obtaining his
tax information. Tom Brenner for The New York Times
Charlie Savage
Updated Dec. 20, 2022, 8:22 p.m. ET 5 minutes ago
The I.R.S. failed to audit Trump during his first two years in office, Democrats say after the vote.
The House Ways and Means Committee voted Tuesday to publicly release the tax returns of former President Donald J. Trump, the culmination of a yearslong battle during which he defied modern tradition by keeping his finances confidential during his campaign and while in office.
Here’s what to know:
* After debating behind closed doors for about four hours and 20 minutes on Tuesday, the Democrat-controlled committee approved the release of six years’ worth of Mr. Trump’s tax returns 24 to 16. But it could take some time before anything is available to the public. ?Representative Lloyd Doggett, a Democrat on the committee, told CNN that release of the full cache of tax documents could be delayed for “a few days” in order to carry out redactions of personal information, such as Social Security numbers.
* After the vote, House Democrats revealed that the materials they obtained showed that the I.R.S. had failed to audit Mr. Trump’s tax filings during his first two years in office, despite having a program that makes audits of sitting presidents mandatory. The agency began an audit only after the chairman of the committee, Representative Richard E. Neal, Democrat of Massachusetts, requested Mr. Trump’s taxes in 2019. That audit is not complete.
* Mr. Neal said the decision to release the information “was not about being punitive. This was not about being malicious.” He also praised the panel’s members because there were no leaks of sensitive information.
* The ranking member, Representative Kevin Brady, Republican of Texas, condemned the decision after the vote. “So regrettably, the deed is done,” he said. “What was clear today is that public disclosure of President Trump’s private tax returns has nothing to do with the stated purpose of reviewing the I.R.S. presidential audit process.”
* While the public release of the documents will provide the most up-to-date information about Mr. Trump’s finances, much is already known. The New York Times in 2020 released findings of an investigation into Mr. Trump’s tax-return data covering more than two decades .. https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html . He paid no federal income taxes .. https://www.nytimes.com/2020/11/13/nyregion/trump-taxes.html .. in 11 of 18 years that The Times examined; he also reduced his tax bill with questionable measures, including a $72.9 million tax refund that, as of 2020, was the subject of an I.R.S. audit.
More - https://www.nytimes.com/live/2022/12/20/us/trump-taxes-news
The House Ways and Means Committee voted to release six years of Mr. Trump’s tax returns, and members revealed that the I.R.S. failed to follow its own policy because it did not audit Mr. Trump during his first two years in office. It may be days before the tax information is revealed.
The Supreme Court paved the way for Tuesday’s vote by declining former President Trump’s request to block lawmakers from obtaining his
tax information. Tom Brenner for The New York Times
Charlie Savage
Updated Dec. 20, 2022, 8:22 p.m. ET 5 minutes ago
The I.R.S. failed to audit Trump during his first two years in office, Democrats say after the vote.
The House Ways and Means Committee voted Tuesday to publicly release the tax returns of former President Donald J. Trump, the culmination of a yearslong battle during which he defied modern tradition by keeping his finances confidential during his campaign and while in office.
Here’s what to know:
* After debating behind closed doors for about four hours and 20 minutes on Tuesday, the Democrat-controlled committee approved the release of six years’ worth of Mr. Trump’s tax returns 24 to 16. But it could take some time before anything is available to the public. ?Representative Lloyd Doggett, a Democrat on the committee, told CNN that release of the full cache of tax documents could be delayed for “a few days” in order to carry out redactions of personal information, such as Social Security numbers.
* After the vote, House Democrats revealed that the materials they obtained showed that the I.R.S. had failed to audit Mr. Trump’s tax filings during his first two years in office, despite having a program that makes audits of sitting presidents mandatory. The agency began an audit only after the chairman of the committee, Representative Richard E. Neal, Democrat of Massachusetts, requested Mr. Trump’s taxes in 2019. That audit is not complete.
* Mr. Neal said the decision to release the information “was not about being punitive. This was not about being malicious.” He also praised the panel’s members because there were no leaks of sensitive information.
* The ranking member, Representative Kevin Brady, Republican of Texas, condemned the decision after the vote. “So regrettably, the deed is done,” he said. “What was clear today is that public disclosure of President Trump’s private tax returns has nothing to do with the stated purpose of reviewing the I.R.S. presidential audit process.”
* While the public release of the documents will provide the most up-to-date information about Mr. Trump’s finances, much is already known. The New York Times in 2020 released findings of an investigation into Mr. Trump’s tax-return data covering more than two decades .. https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html . He paid no federal income taxes .. https://www.nytimes.com/2020/11/13/nyregion/trump-taxes.html .. in 11 of 18 years that The Times examined; he also reduced his tax bill with questionable measures, including a $72.9 million tax refund that, as of 2020, was the subject of an I.R.S. audit.
More - https://www.nytimes.com/live/2022/12/20/us/trump-taxes-news
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