With control over the Federal Government TRILLIONS….
WTF didn’t the American Government have someone to check to see if a President (A ‘businessman’) was beholding to debtors?
Donald Trump made hundreds of MILLLIONS and the IRS seems to have backed away from angering their boss, the President….
Former President Donald Trump repeatedly paid little or nothing in federal income taxes between 2015 and 2020 despite reporting millions in earnings.
Documents released Tuesday night by House Democrats said Trump frequently made tens of millions of dollars annually during that period. But he was able to whittle away his tax bill by claiming steep business losses that offset that income.
In 2016, he paid $750. The following year he again paid just $750. In 2020, he paid nothing.
And though the IRS has a longstanding policy of automatically auditing every president, Democrats say the agency did not begin vetting Trump’s filings until they began asking about them in 2019….
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The IRS didn’t audit the personal tax returns filed by former President Donald Trump during his first two years in office, despite an agency program that mandates scrutiny of every president’s tax information, a House committee said Tuesday.
Trump filed his 2015, 2016 and 2017 tax returns during his first two years as president, which should have triggered an IRS examination of those returns under a Watergate-era policy, according to the report by the House Ways and Means Committee.
However, the agency did not initiate an audit of any of the returns that Trump filed while in office until April 3, 2019. That was the same day that committee Chair Richard Neal (D-Mass.) first asked IRS Commissioner Chuck Rettig to provide Neal six years of Trump’s tax returns and any audits of those returns.
Only one such examination — that of the former president’s 2016 return — was flagged as a mandatory president audit. And three personal tax returns that Trump filed while in office for tax years 2017, 2018 and 2019 weren’t selected for scrutiny until after he left the White House.
The report reveals glaring problems for a program that is supposed to assure Americans that the president is abiding by the law, Joe Thorndike, a longtime tax historian, said.
“We have no other assurance that the president is following the same laws that the rest of us follow when it comes to paying our taxes and being good fiscal citizens,” Thorndike said. “And if the IRS can’t be relied upon to do this to follow their own rules, I think that is extremely disappointing.”….