Opinion by Catherine Rampell: We don’t know why the IRS didn’t put more resources toward these audits. Maybe due to overt intimidation from Trump or his minions. Maybe the reason is more benign but still troubling, such as disorganization or incompetence.
The materials available so far present two big questions: 1) What kinds of financial shenanigans was Trump engaged in? And 2) why, exactly, did the IRS drop the ball on monitoring question No. 1?
The answer to the first question: possibly a lot. Staffers on Congress’s nonpartisan Joint Committee on Taxation havemany dodgy-looking things in Trump’s returns. These include questionable charitable contributions; “loans” to his children that might have been gifts; “business” expenses that look like personal hobbies; and various other “Large unusual questionable items," as IRS staff put it, that Trump deducted as losses.
The JCT report, for instance, suggests that Trump received significant income from overseas while in office. In fact, in at least one year, Trump reported paying more in foreign taxes than in net U.S. income taxes. We still don’t know in which countries he earned this income, or, more importantly, who was paying him.have asked for documentation to substantiate these foreign tax transactions.
According to the House Ways and Means report, the IRS only began auditing Trump’s tax-year 2015 return in April 2019 — more than two years into his presidency. This should set off alarm bells: There were lots of
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