(JustPatriots.com)- Former President Donald Trump’s taxes have finally been released by the House Ways and Means Committee, according to CNN. Six years’ worth of tax returns reportedly shows that for three out of the four years Trump was president, the IRS failed to audit him, apparently breaking its own rule.
The returns span 2015-2020 and their release comes after Democrats brought a suit to the Supreme Court, which ultimately ruled in their favor. Contrary to what presidents before him have done, Trump refused to make his taxes public, prompting skepticism and ire from Democrats who are still after him two years after leaving office.
The documents span over 3000 pages. The congressional Joint Committee on Taxation reported that Trump and his wife, Melania, paid $0 in federal taxes for the year 2020, according to MarketWatch. The committee reportedly found a few red flags, raising questions about his loans to his children, which might be taxable gifts, his carryover losses, and deduction-related tax write-offs.
When the pandemic hit in 2020, the Trumps reported a loss of $4.8 million. While he was president from 2018 to 2019, Trump’s income reportedly increased, and the family paid $1.1 million in federal taxes each year.
The IRS began to audit Trump’s 2015 tax returns in April 2019, which reportedly demonstrates the strained resources of the federal agency.
“Auditing the income taxes of the President of the United States is unlike auditing the income taxes of any other American,” according to an internal IRS memo, which added that the president holds innumerable power to influence his personal finances by signing bills into law.
The IRS continued to say that the tax system in the United States is “a largely voluntary tax compliance system,” where our democracy hinges on public faith.
This year, 72.5 million, or 40%, of American households will pay no federal income taxes. This marks a decrease from the 100 million, or 60%, of households that did not pay federal taxes during the pandemic.