Trump’s longtime accountant, Donald Bender, testified at the Trump Organization’s recent Manhattan criminal trial that Trump reported losses on his tax returns every year for a decade
Democrats in Congress released six years' worth of former President Donald Trump’s tax returns on Friday, the culmination of a yearslong effort to learn about the finances of a onetime business mogul who broke decades of political norms when he refused to voluntarily release the information as he sought the White House.
The release, just days before Trump’s fellow Republicans retake control of the House from the Democrats, raises the potential of new revelations about Trump’s finances, which have been shrouded in mystery and intrigue since his days as an up-and-coming Manhattan real estate developer in the 1980s. The returns could take on added significance now that Trump has launched a campaign for the White House in 2024.
In its report last week, the Ways and Means Committee indicated the Trump administration may have disregarded a post-Watergate requirement mandating audits of a president’s tax filings. A report from Congress’ nonpartisan Joint Committee on Taxation raised multiple red flags about aspects of Trump’s tax filings, including his carryover losses, deductions tied to conservation and charitable donations, and loans to his children that could be taxable gifts.
Republicans have argued that Democrats will regret the move once Republicans take power next week, and they warn that the committee’s new GOP chair will be under pressure to seek and make public the tax returns of other prominent people.
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