The Ways and Means Committee has been reviewing six years’ worth of Trump’s tax returns in an effort to indict him for tax fraud. After Christmas, the committee has announced that they would be releasing the tax returns to the public.
Public Service
The committee agreed to release the returns to the public after they redact all personal information from the documents.
The returns are made up of business filings from 2015-2020. This will be the first time anyone has taken an in-depth look at Trump’s tax returns for the years he was running for office and held office.
The purpose of looking at the returns is to determine the source of his earnings and how much he paid in taxes on those earnings.
New Laws
On Thursday, the House passed legislation that requires the IRS to audit any president annually and then release their tax returns to the public.
The IRS will also need to publish its examination results to the public. The purpose of this legislation is to act as an obstacle for any presidents who seek to avoid having their tax returns investigated.
The bill has not yet passed because while Senate Democrats have unanimously supported the bill, the House Republicans have been increasingly critical.
More Articles From A Dime Saved
- Marjorie Taylor Greene’s January 6th Comments Could Land Her in Hot Water
- The IRS Just Adjusted Its Tax Income Brackets — Are You Ready?
- Alleged Bribery Scheme Could Be the Nail in the Coffin for Trump
A Dime Saved
Hi! I am a millennial mom with a passion for personal finance. I have always been “into” personal finance but got inspired to start my blog after a period of extended unemployment. That experience really changed the way I viewed my relationship with money and the importance of accessible personal finance education.