According to a House Ways and Means Committee member, former President Donald Trump has potentially benefited from millions in tax write-offs without providing adequate substantiation.
On Tuesday, the committee which is currently under Democratic control announced that they would be releasing to the public the former president’s tax returns, which as they claimed had not been properly audited while Trump was in office.
Along with the release of the tax returns, the committee also released a report that summarized six years of Trump’s tax affairs according to the committee’s findings. This included showing how Trump benefited from large tax write-offs by claiming large annual losses.
During his presidency, Trump broke a decades-long tradition by keeping his tax returns private.
Representative Lloyd Doggett, a Democratic member of the Ways and Means Committee, during an appearance on CNN, alleged that there wasn’t enough “supporting data” provided to back Trump’s financial claims.
He added that the focus of all this started with the IRS audits but it is clear that the IRS did not start their audit until “the day they received Mr. Neal’s request for these documents, and that day they requested the first audit.”
Neal is Richard Neal, the chair of the Ways and Means Committee.
As Doggett pointed out to this day the IRS has not managed to complete a single audit on Trump. He added that what is even more surprising is the lack of supporting documents that should have been there along with the tax returns. Any taxpayer whose tax returns are audited needs to provide evidence for their claims.