The House Ways and Means Committee has been reviewing Donald Trump’s tax returns from 2015-2020. The committee voted to make the returns public after Christmas, and we now know that the returns will be available on Friday.
Pulling Back the Curtain
The returns that will be released are the ones from when Trump was running for President and while he was in office.
The returns cover both his personal tax returns as well as returns from various businesses he owns. Any personal information on the returns will be redacted before the documents are released to the public.
Improving Procedures
One of the main purposes for releasing Trump’s tax returns is to help improve auditing processes within the IRS. The committee maintains that there is no malicious intent in the release of the returns.
The documents allegedly reveal a failure of the IRS to audit Trump for years despite regulations that make auditing presidential returns mandatory.
The committee has been fighting in court for many years for the ability to review and release Trump’s tax returns.
Although Americans’ tax returns are normally protected by privacy regulations, the committee claims that Trump’s tax returns need to be released to help aid the process of changing tax laws.
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