Trump's taxes: House OKs bill on IRS audits of presidents

Australia News News

Trump's taxes: House OKs bill on IRS audits of presidents
Australia Latest News,Australia Headlines
  • 📰 YahooNews
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 59%

The House took action after disclosures that the IRS never fully reviewed Donald Trump’s tax returns during his presidency, passing a bill that would require audits of any president’s income tax filings.

WASHINGTON — The House took action Thursday after disclosures that the IRS never full reviewedduring his presidency, passing a bill that would require audits of any president’s income tax filings. The legislation would turn what had been a long-standing post-Watergate norm into established federal policy.

The committee's lengthy investigation revealed this week that the IRS had failed to pursue audits of Trump on a timely basis during his presidency, as required under the tax agency's protocol. Only when Democrats formally questioned the the IRS on April 19, 2019, did the IRS begin its first review, two years into Trump's tenure.

The practice of auditing presidential tax returns grew from the Watergate era, when then-President Richard Nixon was under scrutiny by Congress. In 1977, the IRS created the mandatory audit requirement as part of its operations, but the practice was simply the norm, not the law. The bill would require an initial IRS report on a president's tax returns no later than 90 days from the time they were filed. It would require an updated report on the president's filings in six months.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

YahooNews /  🏆 380. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump tax returns: House committee report shows IRS failed to conduct 'mandatory' auditsTrump tax returns: House committee report shows IRS failed to conduct 'mandatory' auditsHouse report says IRS failed to conduct mandatory reviews of Trump tax returns, recommends new federal law mandating the audits.
Read more »

IRS asleep at the wheel on Trump audits, House tax writers sayIRS asleep at the wheel on Trump audits, House tax writers sayICYMI: The IRS didn’t audit Trump's tax returns during his first two years in office, despite an agency program that mandates scrutiny of every president’s tax information, a House committee said yesterday.
Read more »

Only one Trump tax return as president got mandatory IRS audit, report saysOnly one Trump tax return as president got mandatory IRS audit, report saysA report on Donald Trump's federal income taxes was released after a House panel votes to make public redacted copies of his tax returns.
Read more »



Render Time: 2025-02-27 03:39:48