Donald Trump MUST release his tax returns, and more importantly, disclose the reason behind the IRS audit of his finances. Donald Trump’s statement that “One, the voters don’t actually care about this, and two, there is no new information that would come out of the tax returns” is pure nonsense and could not be farther from the truth.
While releasing his tax returns would give voters important information about Donald Trump’s wealth, business acumen and financial dealings, the very nature of the audit being conducted by IRS against Donald Trump is the most important information. It is essential information that the people need before the election for President. Unlike the typical IRS audit experienced by the average citizen which may be caused by a simple mistake or the taxpayer fitting a profile that the IRS is looking at to justify audits, the very real possibility exists that a complex multi-year IRS audit like is being done on Donald Trump’s tax records could very well be a “forensic audit” that is part of a criminal or quasi-criminal investigation involving tax evasion, fraud or other misdeeds. If the IRS is doing a forensic audit in search of tax evasion or the like, the American people need to know, before the election, and even before the nominating convention.
The very fact that Donald Trump is under investigation for tax years going back to 2009 is highly suspect. Such a multi-year audit could be an indicator that there is something organically wrong with Trump’s finances. Trump’s involvement in real estate investments, derivative based financing and companies involved in bankruptcies, foreclosures and leveraged buy-outs puts him in the prime territory where other financial moguls have had serious tax evasion problems. The fact that Trump says he cannot release his tax returns “because he is being audited” is profoundly suspicious in itself. There is no official reason why he should not or could not release his returns. In February 2016, IRS said, regarding Trump’s tax case, “Federal privacy rules prohibit the IRS from discussing individual tax matters. Nothing prevents individuals from sharing their own tax information.” So, the only possible reason for Trump not releasing his returns is his own self-protection. If he is being investigated for tax evasion or tax fraud Trump would be foolish to disclose the nature of the IRS audit or release his returns, but the voters should demand it.
CNN article on Nixon Releasing Tax Returns while being audited. http://linkis.com/money.cnn.com/2016/0/BoB0c
CNN article on Trump tax case – http://www.cnn.com/2016/05/11/politics/donald-trump-tax-returns/index.html
Businessweek: Trump has Reported Profits that are not Real https://ricochet.com/businessweek-trump-reported-profits-not-real/
The Forensic Tax Audit Specialist Who Taught Donald Trump to Bankrupt a Company but Keep the Wealth for Himself — http://forensiccpas.com/warren.html