Free Republic

WASHINGTON — Before Donald Trump became president and after, his exceedingly complex and voluminous tax returns came under regular scrutiny by the Internal Revenue Service. The number of agents assigned to the audit team: one. After Trump left office, the IRS said it was beefing up the audit team, to three. The tax agency itself acknowledged that it was still overwhelmed by the complexity of Trump’s finances and the resistance mounted by the former president and his sophisticated army of accountants and lawyers, which included a former IRS chief counsel and raised questions early last year about why even three...

The amount of income, deductions and taxes paid by or refunded to former President Donald Trump while serving in the White House was detailed in a new report released Tuesday night. The report reveals that Trump on his federal tax returns declared negative income in 2015, 2016, 2017 and 2020, and that he paid a total of $1,500 in income taxes for the years 2016 and 2017. On their 2020 income tax returns, Trump and his wife Melania paid no federal income taxes and claimed a refund of $5.47 million, according to the report by the staff of the Joint...

Taxpayers accustomed to filing a simplified 1040EZ will not be able to do so if they received health insurance tax credits this year. Some highlights: -- You may have heard that the IRS cannot use liens and levies to collect the law's penalty on people who remain uninsured. But there is no limitation on collection efforts in cases where consumers got too big a tax credit. If your refund isn't large enough to cover the repayment, you will have to write the IRS a check. "They are not messing around," Brandes said. For families, the cap is double the amount...