Posted on 02/26/2016 8:02:31 PM PST by reaganaut1
Donald Trump says he cannot release his tax returns because he is undergoing an audit that goes back “four or five years.”
But the Internal Revenue Service usually does not look back more than three years.
“Generally, the IRS can include returns filed within the last three years in an audit,” the agency’s website says. “Additional years can be added if a substantial error is identified.”
The IRS further reports, “The statute of limitations limits the time allowed to assess additional tax. The statute of limitations is generally three years after a return is due or was filed, whichever is later.” Either Trump is lying about undergoing such an audit as an excuse not to release his returns, or the IRS has found that his most recent return includes an error considerably bigger than a simple oversight. Whatever the truth, an audit should not preclude releasing his returns.
Meanwhile, Trump has tweeted a photo of himself with a pen and a stack of papers.
“Signing a recent tax return—isn’t this ridiculous?” he wrote on Thursday.
In October, Trump had initially said that he would release his tax returns after Hillary Clinton released all her emails.
“But I will say this, and I’m very proud to say it, I think the country is run horribly. I hate what they do with our money,” Trump noted at the time. “And unlike everybody else, I try to pay as little tax as possible, because I hate what they do with my tax money.”
He added, “It’s a little tax.”
In January, Trump indicated that the release was imminent.
“We’re working on that now. I have big returns, as you know, and I have everything all approved and very beautiful and we’ll be working that over in the next period of time,”
(Excerpt) Read more at thedailybeast.com ...
If not, I demand that you release your tax returns to the public.
I wouldn’t either. And to those here who deem themselves the equivalent of IRS gestapo, who the hell gave you this authority to make these demands?
Sure he knew it was coming. I doubt he thought it would come from Mitt Romney.
I must be in the minority of Americans. I don't think anyone should have to reveal their tax returns publicly, whether they are running for President or not, whether they are a Republican or not.
Tax returns fall into that "none of my business" category.
If I were put in his position, I'd say something to the effect that, "I make a lot of money. I pay as little as I can in taxes, same as every American. My returns are audited by the IRS, so that should give you assurance that they are properly filed."
Now, I do think that financial disclosure forms are important, as they reveal conflicts of interest. Tax returns don't do that.
Barry isn’t going to release crap. He doesn’t give a damn about us. Does Trump? I wish I knew.
Dear Snoopy, I love all of his big beautiful new reasons for not only withholding his private finances, but also telling his deranged critics to take a flying leap.
He will call you. Ya’ don’t have to call him.
Caption that, “Cruz”.
” You should go peddle this trash on a liberal forum. “ >>>
LOL! That is exactly where he got this trash, from a liberal forum.
All these guys have had their head down in whatever,
dumpster diving to beat the clock, before Super Tuesday. LOLOL!
By the time they sift through all those Lefty sites and Establishment backer sources, they will all be LIBERALS.
You’re spot on. All these attacks supporting IRS by people claiming to be FR conservatives is enough to make me puke.
If he can’t handle finial scrutiny now just wait till he’s up against Clinton. oh wait..
Financial !!
Stupid smart phone
NOBODY CARES. NOBODY IS GOING TO CHANGE THEIR VOTE BECAUSE SOMEONE DOESN’T RELEASE THEIR RETURNS. If Trump will build that wall as step 1 of bringing this country back from the brink of extinction I COULD NOT CARE LESS WHAT IS IN HIS RETURNS. DID HE PAY NO TAXES WHATSOEVER? I DON’T CARE! DID HE NOT GIVE TO CHARITY? I DON’T CARE! IF YOU WANT TO MAKE RICH PEOPLE PAY MORE TAXES AND GIVE MORE TO CHARITY THEN MAKE IT THE LAW. Good grief. This country is swirling around the toilet bowl and you want to cry about a tax return. Do you care what is Cruz’s return? I sure don’t.
He made less income, We Don't Care
He hired competent CPAs to give him the most tax benefit, Bravo
We do not care about if/when he releases his tax returns. Trump is a private citizen who is only running because election cycle over election cycle resulted in do nothing politicians only vying for more fame and personal wealth. A persons tangible net worth is never disclosed on an annual tax return. The media knows this yet they continue to try and report otherwise.
Whatever Trump shows for his tax return, all of his supporters will applaud it because he was a private job creating citizen until his run for elected office.
NOBODY CARES. NOBODY IS GOING TO CHANGE THEIR VOTE BECAUSE SOMEONE DOESN’T RELEASE THEIR RETURNS. If Trump will build that wall as step 1 of bringing this country back from the brink of extinction I COULD NOT CARE LESS WHAT IS IN HIS RETURNS. DID HE PAY NO TAXES WHATSOEVER? I DON’T CARE! DID HE NOT GIVE TO CHARITY? I DON’T CARE! IF YOU WANT TO MAKE RICH PEOPLE PAY MORE TAXES AND GIVE MORE TO CHARITY THEN MAKE IT THE LAW. Good grief. This country is swirling around the toilet bowl and you want to cry about a tax return. Do you care what is Cruz’s return? I sure don’t.
Outstanding post
He is not obligated to release his tax returns. I couldn’t care less what’s in them.
There is no statute of limitations concerning tax evaluation.
Trump should release them the same day Cruz gets something accomplished in the Senate.
>> Supposedly the IRS has 3 years to catch a mistake.
It’s mistakes, not the taxpayers’.
She could walk into a room of wall Street executives and say “you have nice suits” and walk back out. They paid before, not after she spoke.
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