Page 508 - Audit News Today

0 decades, so please do not fool around, stock up on supplies, especially batteries and non perishable foods. if you really do need to go out in the storm, please stay safe, we really do want you around in the new year. and before i let you go, have one more thing, we need to acknowledge the retirement of a very important member of the 11th hour team. our senior producer sharon, aka the woman in my ear every night, the woman shouting wrap, wrap, wrap as been a leader of the 11th hour for over fo...

Delineation between these two things. theres the audit he claims to be under why he couldnt release as a candidate and then theres the mandatory -- and that seems to be the help legislative this committee is talking about. on the point part of the feedback that youre hearing is the idea, well, we have seen some of the information, right, through your own reporting back in 2020 and beyond. im wondering one of the things the congressman has had to say the former president claimed tens of millions ...

For years, Trump falsely claimed that his tax records could not be released due to audits, said Democratic Representative Bill Pascrell, Jr.

Presidential audit which is supposed to be conducted and that seems to be the hook legislatively that this committee is talking about. but on the point of the 2020, on the feedback you are hearing, we have seen some of the information right? through or reporting back in 2020 and beyond. one of the things congressman docket has had to say is that the former president claimed tens of million dollars in losses but were those supporting documents substantiating those claims, how is that possible and...

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...

This is we dont want to leave it up to somebody sitting at the irs, an employee of the federal government deciding that they should initiate an audit of the president of the united states. we think that ought to be done by operation of law and not left up to a person who indirectly or directly reports to that very same president of the united states. that obviously doesnt make sense and thats one of the reasons we are anxious to move forward on legislation. >> the purpose -- of the purpose we as...

Chance to look at this. if you can, for our viewers, please lay out why it was important for congress to get donald trumps tax returns in the first place and why you want to release these tax returns to the public? >> thank you, great, question so i want to be very clear that the committee was looking at donald trumps taxes or asked to look at them, in the process of reviewing the mandatory audit program that refuses all taxes of every single president and vice president since 1977. but since th...

However been completed. very few were even tagged for audit until after -- in fact, none were tagged for audit until after we began this process of trying to ascertain these documents. clearly the irs failed to conduct the audit for the president of the united states. clearly this presidents taxes are a matter of public interest, innocent he was the president of the united states with unique authority that no other person has. the reason why we ask for these returns posed to determine whether we...

>> no, it makes the trump ties look like the best thing ever. it does. and the first thing when i saw it was wow, he must need money. >> and his fundraising, even as a political figure, is greatly diminished from his announcements he raised exponentially less money then when he announced his last presidential bid. so, what were looking at is a picture of a man who seems increasingly desperate in the arena that he perhaps cares most about, which is financial prowess. >> right, and the other thing...

Clearly favors the wealthy, like donald trump. those people, for example, who are getting audited on an earned income tax credit or child tax credit and at a much higher rate and yet the audit can -- throw away. >> the point was made tonight in chairman neals press conference that people on the earned income tax credit, which is to say, the lowest income tax fillers that we have our five times more likely to be subject to an audit than the highest earning taxpayers that we have. another point ma...