Page 8 - Audit Process News Today

To try to get access from the presidents tax returns. and thats caught up in the courts. is there any reason given that ongoing proceeding that he might not want subpoena the whistle-blower because that might interfere in his legal prospects there? >> i dont know. theyve had an opportunity to talk to the whistle-blower ininformally and what they wanted to do was just get a transcript, a sworn statement from the whistle-blower, so maybe there is something about what they know. so far that litigat...

Whistleblower because that might interfere in his legal prospects there? >> i dont know. theyve had an opportunity to talk to the whistleblower informally and what they wanted to do was just get a transcript, a sworn statement from the whistleblower, so maybe there is something about what they know. so far that litigation seems to be going well. they had a hearing in november where there was a motion to dismiss by the irs and the judge expressed skepticism, so perhaps it appears to the ways and ...

Filing requirements in new york. >> fascinating. talk about, say the president does move. right? still has real estate holdings in new york state. wouldnt that come into play? >> exactly. >> still has to pay those taxes and be responsible tofor that a well? >> absolutely. yes. we tax people, even non-residents if they earn income in new york and one of the ways of earning income is through real estate. even though hes a floridian, assuming he would absolutely have to file new york returns to ref...

Real concerns about how the presidential audit process was going along. the chairman of your committee richard neil wrote a letter about that detailing it to treasury secretary mnuchin. quote, the committee received an unsolis sated communication from a federal employee setting forth credible allegations of evidence of possible misconduct, specifically potentially efforts to influence that mandatory audit program. this is as your committee is working to obtain the presidents tax returns related ...

Taxpayer-financed ones at the justice department and his personal attorneys, trying to delay this indefinitely. and what appears to be a very significant development, the committee focused in on the audit process and now apparent additional evidence that that audit process, which is just a matter of irs procedure, not a statute, that that audit process could be jeopardized by interference from the trump administration. >> it has become traditional in the irs for the president and the vice presid...

Seeing the information that the whistle-blower provided. but that certainly appears to be the case, both in a footnote in the summary judgment motion memorandum and in the letter. and lawrence, youve covered this story with such insight for months. this has been going on for months. and now we just have more dither and delay and denial from mr. trumps attorneys, both the taxpayer-financed ones at the justice department and his personal attorneys, trying to delay this indefinitely. and what appea...

There was not any debate. there was a willingness to make available irs employees, if necessary. there was of the kind of cooperation that comes when you have a clear, unqualified statute that says shall, as you mentioned, that shall meant shall then and it means shall now. it just this particular request that has been made has come so late, i dont expect well see these documents during this calendar year. i hope we get them before the end of this congress. >> what happens if when you get the ta...

He wasnt that charitable, maybe he played with funny money the way a lot of wealthy people do, maybe theres just not that much in there. how big a blow is that? >> if thats the case, those arent the only issues were looking at. the principal issue is to see if the audit process is working appropriately for presidents. the other issues, whether hes ever paid any taxes at all, whether hes been under ought ii -- audit. >> so the irs went tell up whether hes under audit? >> no. >> his lawyer, jay se...

Richard neal always predicted this would ending up. brianna. >> elliott, congress of course has oversight, but the white house is saying that theres no legislative purpose for handing over the tax returns. theyre saying they dont legally have to. in a court of law, who has a better argument here? >> i think congress does. they were very careful to talk about oversight of this audit process or just use their oversight of the tax system as a legitimate basis, right? but i think the administration ...

Closing the airspace over reagan national airport, the airport across the potomac river. theyll do so from 6:15 to 7:45 p.m. associated with the flyover for the presidents event and then theres the closure and the 9:00 hour. that would be related to the fireworks display that happens every year here in washington d.c., trace. >> trace: rich, stand by. democratic lawmakers are filing a lawsuit in federal court to try to get president trumps financial information. members on the house ways and mea...