More subterfuge and fakery
Posted on 12/22/2022 11:17:49 AM PST by Red Badger
The House of Representatives passed a bill mandating annual reviews of a president’s tax returns Thursday, following a committee move to disclose publicly former President Donald Trump's tax returns earlier in the week.
Dubbed the Presidential Tax Filings and Audit Transparency Act, the measure cleared the lower chamber 222-201 largely along party lines. The bill follows revelations that the IRS did not audit Trump during two of the years he served as president.
Under IRS policy, the tax agency is required to audit sitting presidents annually, but those rules were agency requirements. The bill that passed the House Thursday would enshrine that policy into federal law. Although the reasons are not clear, the IRS declined to audit Trump's tax returns in 2017 and 2018, according to a report released Tuesday by the House Ways and Means Committee.
Trump had filed tax returns during both those years, but the agency didn't audit him until 2019 after Rep. Richard Neal (D-MA), the outgoing chairman of the committee, asked the IRS commissioner for his tax returns, per the report. Ironically, IRS tax audits were one of the reasons Trump cited for not divulging his tax returns to the public.
Additionally, the bill would mandate the IRS audit entities controlled by the president and have the president's tax returns disclosed within about three months of filing.
"The IRS has failed to administer its own mandatory audit program policies, so the best available recourse is for Congress to fill this void with legislation that eliminates the IRS’s discretion in the matter. That’s what we are doing today," Neal declared in a floor speech.
On Tuesday, the House Ways and Means Committee released its report about its inquiry into how the IRS oversaw its tax audit system during the Trump administration. During that vote, the panel greenlighted the release of six years' worth of Trump's tax returns, but the document trove has not been published because it must undergo redactions.
Committee members obtained Trump's federal tax returns from 2015 to 2020 following a Supreme Court decision last month. Data from the tax returns revealed that Trump reported hefty losses during the six-year period and paid minimal income taxes.
Many House Republicans have condemned the move to release Trump's returns, warning that it could come back to haunt the Democrats.
ALL the BIDEN CARTEL
Pelosi
MAD MAXINE WATERS
Schiff
Schumer
Dingle
McConnell
Graham
ETC
He will veto it.................
If this is the law, it should cover EVERY member of Congress as well.
how speaker and committee chairs
Sounds like a separation of powers issue.
Why just the president’s? Should apply to everyone in government.
RE: The House of Representatives passed a bill mandating annual reviews of a president’s tax returns
Why only the President?
We need a bill mandating annual reviews of all Senators and Representatives of the House as well.
Trump has actually gotten POORER since becoming President.
How many Congressmen and Senators have become super rich after assuming office and HOW did they get super rich?
remember....hillary re-filed 5 years of returns of the foundation. we never got even a hint of what was changed and the effect.
i think the next two people in line should be audited...can you say nancy
In my opinion this is dangerously close to a bill of attainer and is highly likely to be unconstitutional. Might be constitutional if it applied to all elected officials.
That was my point, FRiend.
so the FJB will turn over his for this year???
Exactly. They’re unconstitutionally creating a new requirement to be President. Sorry, but it’s at least 35 years of age and a natural born citizen, period. Passing some contrived tax payment test is not in the Constitution, and they have no power to add it.
What about Congressmen’s taxes?
Yep. Separation of powers.
OK ... If the Congress were composed of honest men, then Senators, Representatives, and federal Judges would also be included.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.