Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax system
The settlement also bars the U.S. from reviewing Trump, his sons and the Trump Organization’s current tax filings, experts said.
- On Tuesday, the Internal Revenue Service agreed to drop all pending probes of Trump to settle a $10 billion lawsuit over a 2018 tax return leak, granting immunity to Trump, his sons, and the Trump Organization.
- Trump sued the Internal Revenue Service, an agency within his own administration, to resolve the leak case; in an "extraordinary action," the agency granted immunity that Brandon DeBot, policy director at New York University's Tax Law Center, claims creates different rules for the president.
- The dropped probes included an audit regarding a technique to cut taxes twice, which could have carried a $100 million bill if the IRS found wrongdoing; Trump previously paid $750 in federal taxes in 2016 and 2017.
- A one-page document released Tuesday states the U.S. is "forever barred and precluded" from examining or prosecuting Trump, his sons, and the Trump Organization regarding current tax filings, though future filings remain subject to examination.
- Legal experts expect the tax immunity will be challenged in court, while a separate $1.8 billion compensation fund established in the settlement faces lawsuits from police officers who defended the Capitol on Jan. 6, 2021.
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Dems demand answers from Treasury secretary on Trump’s IRS settlement
Top Democrats are demanding answers from Treasury Secretary Scott Bessent and IRS CEO Frank Bisignano on the settlement between President Donald Trump and the IRS that created a nearly $1.8 billion “Anti-Weaponization Fund” to compensate those who allege they were wrongly targeted under the Biden administration. In a letter sent late Thursday evening to Bessent...
Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax system - Boston News, Weather, Sports
NEW YORK (AP) — Remember Donald Trump’s response in the 2016 presidential debate, when Hillary Clinton blasted him for paying virtually no federal taxes? “That makes me smart,” Trump said. By that logic, Trump is looking smarter than ever now. On Tuesday, the Internal Revenue Service agreed to drop all pending probes of Trump over whether he’s paid his fair share of taxes, to settle a lawsuit brought by the president over a leak of his tax retur…
Times of India
The Economic TimesDonald Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax system
Donald Trump's tax probes have ended. The Internal Revenue Service agreed to drop all pending investigations into the former president's tax payments. This decision came as part of a settlement for a lawsuit Trump filed over a leak of his tax returns. The agreement grants Trump and his organisation immunity from future examinations of current tax filings.
The Toronto Star
Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax system
NEW YORK (AP) — Remember Donald Trump’s response in the 2016 presidential debate, when Hillary Clinton blasted him for paying virtually no federal taxes?
Audit Immunity for Trump Family Puts IRS in a Bind
“President Trump’s return to office has been an unforgiving crucible for the hidebound Internal Revenue Service. He and his aides have decimated its ranks, fired and replaced its leaders and made repeated attempts to enlist the agency in his quest for political retribution,” the New York Times reports. “Now, as part of an arrangement drawn up this week by Todd Blanche, the acting attorney general, the I.R.S. faces its most profound legal and eth…
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