Donald Trump's Tax Audit Excuse Is A Lie. What's He Hiding?

For the first time since 1976 a major presidential candidate, Donald Trump, says he will not make his tax returns public before election day. And his primary excuse for not doing so is a lie.

Trump at first claimed he couldn’t release them due to an IRS audit, a claim since debunked by the IRS and others. The fact is Trump can release his tax returns whenever he wants to.

This is a dramatic change for Trump, who’s over the years said it’s incumbent on presidential candidates to release their returns:

In 2012, Trump called releasing one’s tax returns when running for president “a positive thing” and said “Mitt [Romney] has to get those tax returns out.”
In another 2012 interview, Trump characterized Romney’s release of his returns as “something he has to do.”
Even as far back as 1999, Trump said he personally “wouldn’t have a problem” disclosing his returns.
And then of course Trump’s over the last months repeatedly said he’ll release his returns.

Now, ever-the-hypocrite — and perhaps because he has something to hide — Trump is now refusing to follow through on his own promises and advice.

Here’s how the IRS and several tax experts have responded to Trump’s refusal to release his returns:

“Federal privacy rules prohibit the IRS from discussing individual tax matters. Nothing prevents individuals from sharing their own tax information.”

— IRS Statement on Trump’s tax returns [Huffington Post, 2/26/16]

“I’m not sure why that prevents [Trump] from releasing his returns. They are his to release.”

— Stanford Law Professor Joseph Bankman [Politico, 2/26/16]

“Well, bravo for Mr. Trump [that his 2002 to 2008 audits were finished]! That’s a great result! And if that’s the case, certainly one would say, why wouldn’t you release those returns?”

— Former IRS Commissioner Mark Everson [Washington Post, 4/1/16]

“I think 40 years of tradition carries real moral and ethical weight…It is quite striking that a major candidate would decide not to release their tax information — especially someone with an admittedly complex tax situation.”

— Dr. Joseph Thorndike, director of the Tax History Project [New York Times, 5/11/16]

“Trump has explained his failure to release by saying that his returns are under audit by the IRS. He seems to think that’s a real excuse, but it’s not. There is no legal bar to releasing a tax return while it’s being audited, as the IRS has confirmed.”

— Dr. Joseph Thorndike, director of the Tax History Project [Forbes, 4/5/16]

#TaxReturns

Published: May 11, 2016