Page 5 - Audit Process News Today

Panel. and you just made the most eloquent case for why we should have released the tax returns. you know, back in the ways and means executive session ten days ago, the debate was were the reports enough, or did the american public really need to see the returns? i think once the returns were leaked this morning, weve seen, you know, great journalists around the country look deeply into what exactly happened. thats been very, very helpful. and all of the things that they just said, that first o...

Hearts content. they have tax returns make you. cadet but on top the long standing tradition voluntarily releasing taxes to the public. every president, since the year 1977 has been required to undergo mandatory irs artists of their taxes. while that president is in office. this week, two congressional -- revealed the blockbuster news that somehow, somehow, president trumps taxes did not, did not undergo that mandatory audit. trumps taxes did not get audited, in fact, until democrats in the hous...

And my point is that, that was a legislative purpose with which we won for federal court decisions and three courts. we argued for an examination of how the audit process played out. once staff went to visit the irs, and one staff had a chance to go to some of the other locations within the jurisdiction of the irs, they quickly concluded that in fact, the audit did not occur. there were no audits in a timely manner. and i think that goes for 2017, 2018, and 2019. and i am restrained by the speec...

Presidents have in terms of their finances. i think where the republicans will have a point is that originally democrats said look this is just about this audit process. we only want to know about this audit process. i dont think of anyone really believed that and now they definitely wont believe that because in the last couple of weeks it is just like okay, the house is about to change hands, here it all is. and i do think that sort of undermines the original claims from the chair. >> look, it ...

Courts, but may get more information to power her appeal. and then imagine how many people who he has done business with who are going to pore over these documents and determine hey, this loss that he claimed when he dealt with me wasnt really a loss, and now i have a fraud claim too. so this is a very bad circumstance for donald trump. >> im glad you brought this up, because debt is an issue, right. one of the reasons why we care as americans about whether our president has foreign investments ...

Discrepancies, the amount of issues that we were able to find that the joint committee on taxation was able to find from just a review of the audit process, really made me believe that the report that we put forward would not have been believed unless it was attached to the underlying documents, the underlying evidence, which, in fact, were the tax returns, to show what an absolute -- the fact that this program was dead, but i think its kind of interesting that the republicans would say that wer...

Unanimously because they found the same thing we did, that the audit process of the irs is really what is at question here, and whether or not it has been subverted in any way. we have a law that every single year the irs audits the returns of the president and vice president. serious questions have been raised including by the former president about that audit process. this is an important role we are playing this afternoon. i certainly will be voting on the side of full transparency. i think t...

As presidential candidates normally do. theyre not required to do it by law. i think maybe they should be having gone through all of this. so i think if theres a fear in donald trumps mind of what theyre going to discover, and would it ruin his brand? after all, donald trump wants you to believe hes really, really rich. and we dont know what this is going to show. >> do they have a case to release then, or does that matter? >> look, does anybody actually think that they werent planning on releas...

Transparency, i would make sure that no single person is above the law. thats really what is at stake here, and making sure people have the full information to determine for themselves whether or not the audit process of a president, of any president, is being conducted the way it should be or not. >> you have fully seen his returns at this point? you have combed through them? >> unfortunately, thats one of the questions i cant answer. i am prohibited by law, which is frustrating, so i will have...

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