Donald Trump’s tax returns ‘set to be released on Friday’
Former President Donald Trump’s tax returns will reportedly be released days before Democrats hand control of Congress to Republicans.
Trump’s redacted tax returns will be made public on Friday, a House of Representatives Ways and Means Committee spokesperson said on Tuesday. The records are expected to include returns he filed from 2015 to 2021, which cover the period that he ran for and served as president.
The Democratic-controlled panel shot down an earlier rumor that the documents would be unveiled by midday on Tuesday.
Trump’s returns were obtained by the committee last month as part of a probe. After a multi-year legal battle, the Supreme Court ruled in favor of the panel.
The committee put out a report on its findings last week. However, members said they did not disclose the returns themselves because sensitive information had to be redacted. The details include Social Security numbers, bank accounts and PINs.
Last week, the panel reported that Trump paid $1.1million in federal income taxes in his first three years in office, but $0 as his income dwindled in 2020. Trump and his wife Melania reported $750 or less in income tax liability in 2015, 2016 and 2017, according to the report.
The committee also found that the Internal Revenue Service (IRS) broke its own agency rules by not auditing Trump in three of his four years in the White House.
Trump was the first presidential candidate since Richard Nixon to refuse to share his tax returns in both of his campaigns. Trump claimed that he could not make his returns public because they were under an IRS audit.
The committee last Tuesday voted 24-16 to release Trump’s returns. Democrats said making them public is necessary to understand the context of their report. Democrats had just a few weeks to decide what to do with the returns they received before Republicans regain control of the House on January 3.
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