A imperative congressional committee on Tuesday voted to release Donald Trump’s tax returns.
After hours of debate, the Democratic-controlled House Ways and Means Committee decided to release the documents the former US president had long tried to protect.
The New York Times previously released large portions of Trump’s tax returns, showing how the real estate mogul and reality TV star suffered heavy losses and committed widespread tax evasion. was
The panel’s decision came after a long battle that ultimately saw the Supreme Court last month pave the way for the Treasury Department to file tax returns with Congress. I received six years of tax returns. As the 2016 presidential candidate, Trump broke decades-old precedent by refusing to release his tax returns to the public. During that year’s presidential debate, he boasted that he was “intelligent” not to pay federal taxes and personally benefited from tax cuts he signed in favor of the very wealthy in 2017. He insisted he wasn’t going to get it and urged Americans to simply denounce him… his words.
Tax records would have been a useful measure of the success of his business. The savvy businessman image has been key to the political brand he has honed over the years as a tabloid magnet and star of the TV show The Apprentice. They may also reveal financial obligations, including external debt, that may affect its governance. But until the New York Times published two series based on leaked tax records in October 2018 and September 2020, Americans knew little about Trump’s relationship with the IRS.
A 2018 Pulitzer Prize-winning article showed how Trump received at least his $413 million, the modern equivalent, from his father’s real estate holdings, much of the money reported by The Times to his It comes from what we called “tax evasion” in the 1990s.
In 2021, Trump sued The Times and his niece Mary Trump for providing records to The Times. In November, Mary Trump petitioned an appeals court to dismiss her allegations that her uncle and two brothers defrauded her of millions of dollars in her 2001 family settlement. overturned the judge’s decision to
A 2020 article showed that Trump paid just $750 in federal income taxes in 2017 and 2018. In 10 of the last 15 years, Trump paid no income tax.
Details of Trump’s foreign business income and debt levels are also included on the tax return, which the former president derided as “fake news.”
Manhattan prosecutors also obtained copies of Trump’s tax records in February 2021 after a lengthy legal battle that included his two Supreme Court appearances.
The office, led by District Attorney Cyrus Vance Jr., served a subpoena to Trump’s accounting firm in 2019 to gain access to eight years of Trump’s tax returns and related documents.
Prosecutors issued the subpoena after Trump’s former personal attorney, Michael Cohen, told Congress that Trump misled tax officials, insurers and business partners about property values. Those claims are the subject of a fraud lawsuit filed against Trump and his company by New York Attorney General Letitia James in September.
Donald Bender, Trump’s longtime accountant, said in the Trump Organization’s recent criminal proceedings that Trump had to pay tax returns annually for more than a decade, including about $700 million in 2009 and $200 million in 2010. He testified that he had reported the loss.
The Trump organization has been denounced before