Only one of them Donald TrumpHis annual federal income tax returns began to be audited by the IRS when he was president, although the agency has had a policy since 1977 about conducting mandatory tax checks on presidents. incumbent, a House committee said in a statement. new report Tuesday evening.
And the IRS audit of Trump’s 2016 income tax returns had not been completed by the time he left office in January 2021, the Ways and Means Committee report showed.
And neither of the two Trump-related business entities that the IRS told the commission were part of a required audit program were assigned audits for five of the six years covered by the investigation, according to the report.
And in that sixth year, in 2017, there was “no indication” of the tax returns of the entities designated for audit, the report found.
“Clearly, the mandatory audit program did not work, preferably during the previous Administration,” the report said.
The report was released shortly after the Democratic-led panel Vote along the party line authorized the public release of copies of Trump’s federal tax returns and those of eight related business entities in the coming days.
Those tax returns were obtained by the IRS after Trump lost a three-year legal battle, which ended with a Supreme Court ruling against him, in an attempt to prevent the commission from taking the records.
Rep. Richard Neal, D-Mass., Chairman of the Ways and Means Committee, in a statement to the report said: “We anticipate the IRS will expand its mandatory audit program to account for its nature. complex nature of the former president’s financial situation but found no evidence of that.”
“This was a major failure of the IRS under the previous administration, and certainly not what we hoped to find,” Neal said.
The report found that while Trump was in the White House, the IRS did not designate a mandatory audit of Trump’s tax returns for 2015, when he was running for president, and then again for returns filed with Trump. the years 2017, 2018, 2019 and 2020 tax years.
“The former President’s personal income tax returns filed in 2018, 2019 and 2020 were not selected for
test until after he leaves office and only 2016 tax returns are required
test,” the report said.
And, “Notably, the IRS sent a letter to the former President announcing that his 2015 tax year
The declaration was selected for inspection on April 3, 2019, which is the date the President sent the declaration
initial request to the IRS for the former President’s return information and related tax returns.”
The Ways and Means Committee report recommends that there should be a statutory requirement that the president’s tax returns be audited annually by the IRS, “with the disclosure of certain audit information.” and related declarations in a timely manner.”
“Such a statutory requirement would ensure the integrity of the IRS, allowing for a full audit by IRS personnel
all problems and restore confidence in the Federal tax system,” the report said.
House Speaker Nancy Pelosi, D-Calif., said in a statement Tuesday night that the House “will expeditiously move forward with Speaker Richard Neal’s bill requiring the Internal Revenue Service to conduct an annual financial audit. Presidential.”
For years, Trump has refused to voluntarily disclose his earnings to the public, arguing that they have been audited by the Internal Revenue Service.
The tax authorities in 1977 adopted an internal policy that supposedly required mandatory audits of incumbent presidents and vice presidents.
But the report says that since then, “Congress has not been informed of the activities of the
“Until recently, the Committee was uncertain whether the IRS would conduct
required checks and, if so, whether they conform to this policy, thoroughly,
and fair,” the report said.