Live Updates: House Committee Approves Release of Trump’s Taxes

[Scott]

The House Ways and Means Committee voted to release six years of Mr. Trump’s tax returns, ending a nearly four-year process to make his financial information public.

 

 

The House Ways and Means Committee voted Tuesday to publicly release the tax returns of former President Donald J. Trump, the culmination of a yearslong battle during which he defied modern tradition by keeping his finances confidential during his campaign and while in office.

Here’s what to know:

• After debating behind closed doors for about 3 hours and 20 minutes on Tuesday, the Democrat-controlled committee approved the release of six years’ worth of Mr. Trump’s tax returns 24 to 16.

• https://www.nytimes.com/live/2022/12/20/us/trump-taxes-news

• 

[Chomper Higgot]

Helping Trump keep his 2016 Campaign promise.

 

 

[Bkk Brian]

Bad news for Trump, but great news for democracy and voters.

[Scott]

For those who can't access the NY Times, here's another link:

Democratic-led House Ways and Means Committee votes to release materials on Trump’s taxes to the public

— 

The Democratic-led House Ways and Means Committee voted Tuesday to make public former President Donald Trump’s tax returns once they are redacted for personal information.

The panel approved a motion on a party-line vote to release the materials to the House, clearing the way for Trump’s tax returns to be released publicly. It is unclear when the public will see these materials.

https://www.cnn.com/2022/12/20/politics/house-trump-tax-returns/index.html

 

[Credo]

So, the race is on.  Which will be the most interesting and crime filled, Trump's taxes or Hunter's laptop?

 

[ozimoron]

*Deleted post edited out*

 

Because it now maintains a 40 year practice of presidents releasing their tax and serves as a warning for those who try not to do so in the future. It's a great day for transparency, truth and integrity.

 

You don't need to worry about Biden's taxes. There is no hint or credible accusation that he has hidden anything.

[Bkk Brian]

7 minutes ago, SunnyinBangrak said:

Why great news for voters and democracy? The guy is not even President any more. The left's narrative has gone from were going to execute him for colluding with his master Putin to win an election and mass murder for the millions his non-action on Covid(forgetting operation warpspeed as they do)  killed, to the pathetic present day scenario of ooooohh shock horror were going to release his historic tax records! You have to laugh at how preposterous this distraction from the Twitter files/open border mayhem/deep state election interference and attacks on free speech is. It feels like the whole house of cards is about to come crashing down.

 

I can't help wondering if the present day President included his offshore adventure money in his own taxes? Not worth investigating I'm sure, even though we are at war with some nuclear superpower countries involved, and the very future of life on earth is at stake. But but but Trump's back taxes!!!

Why great news for voters and democracy?

 

Crazy question, he started multiple times he would release them, he stated multiple time he could not because they were still under audit, we now know both were lies. With his official filing that he's going to run again then voters will have some transparency as has been the tradition for so long.

 

What do you find so difficult to understand about that?

[ozimoron]

Corruption much?

 

IRS never audited Trump during first two years in White House despite policy of 'mandatory' audits for presidents

 

Furthermore, they found that the IRS only started an audit of Trump's taxes in 2019, when House Ways and Means Committee Chairman Richard Neal (D-MA) delivered a formal request for them.

However, it seems that the audit of Trump's taxes was never completed.

 

https://www.rawstory.com/trump-taxes-irs/

Edited December 21, 2022 by ozimoron

[Tug]

Oh boy I sense the mother of all temper tantrums coming on guess we all get to find out old Donnie isent as rich as he says perhaps we can ferret out who has him by the short hairs 

[ozimoron]

2 minutes ago, Tug said:

Oh boy I sense the mother of all temper tantrums coming on guess we all get to find out old Donnie isent as rich as he says perhaps we can ferret out who has him by the short hairs 

Or who bought real estate from him at inflated prices with laundered money from a black hole.

Edited December 21, 2022 by ozimoron

[Chomper Higgot]

*Deleted post edited out*

 

You are correct, while he himself doesn’t accept the fact, he’s not even President anymore.

 

He no longer has his hand picked corrupt USAG running cover for him and neither does he have a GOP controlled Senate voting down his impeachment for crimes and abuse of power committed in plain sight.

 

Look on the bright side, he is at least getting to keep this one campaign promise to release his taxes, even if we had to wait for the Democrats to help him do it.

[ozimoron]

Republicans lining up to protect the rich from public scrutiny. And maybe generate some outrage and talking points along the way to deflect from the main game here which was just to release Trump's taxes.

 

However, the implications of such a move could be significant. By publicly releasing Trump's tax returns, experts and Republican members of the committee said the House Ways and Means Committee demonstrated that anyone's tax returns could be subject to similar treatment, all but ending individual taxpayers' right to privacy.

 

"My prurient interest says I should be gobbling this information up," Allan Morrison, an associate dean at George Washington University Law School, told Newsweek. "My sense of concern about taxpayers as a whole makes me very uneasy about this."

 

https://www.newsweek.com/dems-vote-release-trumps-tax-returns-it-may-come-back-bite-them-1768577

Edited December 21, 2022 by ozimoron

[ozimoron]

 

[ozimoron]

More deflection from a Trump aide under pressure to say something. Anything.

 

On Tuesday, following the vote of the House Ways and Means Committee to release former President Donald Trump's tax returns to the public, a spokesman for the former president lashed out when asked for comment by The Daily Beast, and demanded tax returns be released for outgoing House Speaker Nancy Pelosi (D-CA) and her family as well.

 

https://www.rawstory.com/trump-taxes-response/

[Scott]

Live Updates: I.R.S. Didn’t Audit Trump for 2 Years in Office, House Committee Says

The House Ways and Means Committee voted to release six years of Mr. Trump’s tax returns, and members revealed that the I.R.S. failed to follow its own policy because it did not audit Mr. Trump during his first two years in office. It may be days before the tax information is revealed.

https://www.nytimes.com/live/2022/12/20/us/trump-taxes-news

 

[Credo]

Just now, Scott said:

Live Updates: I.R.S. Didn’t Audit Trump for 2 Years in Office, House Committee Says

The House Ways and Means Committee voted to release six years of Mr. Trump’s tax returns, and members revealed that the I.R.S. failed to follow its own policy because it did not audit Mr. Trump during his first two years in office. It may be days before the tax information is revealed.

https://www.nytimes.com/live/2022/12/20/us/trump-taxes-news

 

Oops.  I wonder how the IRS got discouraged from auditing a President?   

 

[ozimoron]

4 minutes ago, Credo said:

Oops.  I wonder how the IRS got discouraged from auditing a President?   

 

I read somewhere but now can't find the link that he didn't cooperate with the mandatory IRS audit.

[Eric Loh]

We will finally know a long running dispute surrounding Trump. Just how rich is he? He brags nonstop that he's really really rich claiming he's a billionaire but we know of his frequent bankruptcies, business failures and questionable valuations of real estate holdings may speak otherwise. 

[Credo]

1 minute ago, ozimoron said:

I read somewhere but now can't find the link that he didn't cooperate with the mandatory IRS audit.

I am not sure how you can 'not' cooperate with an audit.  I had my taxes audited one year, and they simply said 'you owe $X'.  If I disagreed, then I could meet with them and bring any evidence of a challenge to their accounting.   It was not an amount that was worth arguing over, and it was simply paid.  It was for some tax deductions that they deemed not correct.  

 

They certainly didn't send me a letter asking me if it was OK for them to audit me!!

 

[ozimoron]

1 minute ago, Credo said:

I am not sure how you can 'not' cooperate with an audit.  I had my taxes audited one year, and they simply said 'you owe $X'.  If I disagreed, then I could meet with them and bring any evidence of a challenge to their accounting.   It was not an amount that was worth arguing over, and it was simply paid.  It was for some tax deductions that they deemed not correct.  

 

They certainly didn't send me a letter asking me if it was OK for them to audit me!!

 

Supply of underlying business records to underpin the tax return itself.

[OneMoreFarang]

12 hours ago, Credo said:

So, the race is on.  Which will be the most interesting and crime filled, Trump's taxes or Hunter's laptop?

 

Why don't you compare Hunter's laptop with Eric Trump or someone else from his family?

Trump was the US president, the most powerful person in this world. Hunter Bidon is the son of a president with no political power at all.

If Hunter is guilty of any crime, then he should obviously be punished. But that has nothing to do with his father or Trump.

 

 

Edited December 21, 2022 by Scott

[Tug]

10 hours ago, Credo said:

I am not sure how you can 'not' cooperate with an audit.  I had my taxes audited one year, and they simply said 'you owe $X'.  If I disagreed, then I could meet with them and bring any evidence of a challenge to their accounting.   It was not an amount that was worth arguing over, and it was simply paid.  It was for some tax deductions that they deemed not correct.  

 

They certainly didn't send me a letter asking me if it was OK for them to audit me!!

 

Perhaps a large brown envelope to the right place but more likely a threat of some sort ‘cause trump is cheap