Page 35 - Audit Program News Today

Financial conflicts of interest, he signs bills into laws. but in this case they say that is only the chairman of the committee making a request. in 2019 he was looking to look into donald trumps tax return. and thats when the audit took place. it was after the 2016 election in 2017 all the way up until january of 2021. now, the committee goes on to say a new investigation at the white house in 2019 presidential audit. but he was not at that time. it goes into concerns that they have their. its ...

And i hate to see us in that sort of cycle. it doesnt get better. but typically gets worse. and so, i hope that it really is a serious and significant legislative purpose. i hope that congress acts to close any gaps that they find. but i hate it to be anything retaliatory. >> lets talk about that. how do you weigh the importance of release these tax returns to the public against the politicization of literally everything right now? because anything that congress does, particularly that democrats...

Retaliatory. >> lets talk about that. how do you weigh the importance of release these tax returns to the public against the politicization of literally everything right now? because anything that congress does, particularly that democrats do right now, well be seeing by the incoming republicans as something politicized. what is the value of seeing donald trumps tax returns today? >> well, putting aside the period interest then some people may have been seeing these returns. im not sure what cha...

Information from the tax returns, and then at some point in the next hours or days, we will start to see those. so very, very significant tonight this development up here on capitol hill. the committee voting along party lines to release this information. and we should note, this is a years long court battle from the chairman of the ways and means committee richard neal. he said just moments ago in a press conference that this clearly showed that a mandatory audit program that requires every pre...

Auditing the returns until 2019, when neil sent a letter to treasury requesting six years of the former presidents tax returns and asking for them because he said he needed to understand if the mandatory audit program was working effectively and efficiently. that obviously was not occurring according to house democrats. theres also just going to be a lot more fallout from this. like youve said, its going to take a couple of days to do the redactions needed to release the tax returns in their raw...

David cay johnston is here. hes a lecturer at syracuse law school. manu, let me begin with you. because you have been going through this report and i understand speaker pelosi has been going through the report. what did she say? >> she indicated they plan to move on legislation in response to the report, in response to this investigation by the ways and means committee that found that mandatory presidential audit program under the irs had not moved forward. in the words of the committee, it was ...

So what are people going to learn from all of this? lauren fox is on the hill for us, tracking this down. what have you learned so far? theres much yet to be learned, of course, but what have you learned so far? >> yeah, so the first question, of course, on everyones minds, when will they look at the tax returns that they vote to do release last night. thats going to just take time, because theres redactions that have to happen. we expect to see those returns coming in the next coming days. what...

Amount varied by year with $641,000 paid in 2015. by 2020 appears he did not pay any federal income tax. the i.r.s. has had a longstanding policy of auditing every president in office. democrats say the i.r.s. did not closely examine trumps taxes until 2019, well into his first term. >> we think the mandatory audit program certainly needs to be bolstered and boosted and we intend to do that as part of new investments. >> weve reached out to former president trumps team and yet to hear back. hous...

Audits for sitting presidents. does not believe that either of those things were true. >> reporter: well, i think one important caveat here is that the mandatory audit program, and let me just remind people what that does, they are supposed to every time a president and vice president comes into office look into those individuals tax returns when they get into office. that program is, you know, really centralized within irs. are there other audits that could have been going on? i dont think that...

Completed, and that was only begun at the time that the chairman neal put in the request to have insurpection of this aut program. >> are you seeing any cooperation from your republican counterparts on the committee that if it doesnt get done, this congress, that theyll pick up any of this as it relates to the presidential audit program in the next congress? >> well, republicans -- some are signaling that they are, in fact, concerned about this, but what we are also concerned with is the fact th...