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MSNBC Hallie Jackson Reports June 4, 2024 20:18:00

About, it has been outlined in senate committees, and in various reports that have done autopsies on what happened here, but to actually see it written out in a transcript, and see it and describe what they went through at that time is pretty revealing and why these transcripts are so important. it is revealing and striking, ryan. and it is also interesting, of course, with another story when we are thinking about this, which is the house committee, it is planning to reveal and to produce publicly former president trump s tax returns. what are lawmakers and your sources telling you about what we might learn in these tax returns, what information might be the most important? well, i think for the most part, the ways and means committee, the democratic arm of the ways and means committee, has really revealed all of the biggest information that could potentially come out of these tax returns. and they released an initial report, a week or so ago, that outlined their concerns with what ....

Donald Trump Jr , Tax Returns , House Committee , Ryan Nobles , Ways And Means Committee ,

MSNBC Chris Jansing Reports June 4, 2024 18:21:00

Reform to this policy at the irs that requires the auditing of presidential taxes. right now it s just the policy of the agency. it s required under statute. so there s no penalty for the fact that the irs did not engage in this practice for a good part of the trump presidency. they would like to make that law under statute. the other side, republicans are arguing that this is something that s going to send a very dangerous precedent that making a situation where private tax returns could become public is something that could be used as a political tool down the road, but democrats argue this is a unique case. a lot of back and forth, as you might imagine. thank you so much. let s bring in national column ist for the washington post phillip bump. that last about how the irs got hammered in this report, regarding trump s tax records, they are expected to include the information 2015 to 2021, the years trump was in office. ....

Donald Trump , Washington Post , Tax Records ,

MSNBC Katy Tur Reports June 4, 2024 19:32:00

Much it s good to see you carol, let me turn to you because i love your take on what you think we should be expecting here in other words, is the anticipation in line with the expectation as far as what we re actually going to see? you know, a couple of things really did surprise me i thought i was beyond surprised here one is the committee s report that did come out. really made it very clear that the irs simply ignored their own policies the whole idea of the annual presidential audit, the auditing of the president s tax returns every year was exactly to take away the discretion of the president s own appointees dec deciding whether the president should be audited or not the whole idea was the audit was going to be automatic and shockingly, this really does shock me in i think four out of five years, the irs simply didn t ....

House Committee , Didn T ,

MSNBC Katy Tur Reports June 4, 2024 19:33:00

Even designate the president s tax returns for auditing and that is a violation of its own policies and so now the house ways and means committee is suggesting legislation to actually make that a law that the president s tax returns have to be audited every year and it s not just irs policy what s the one big thing you re looking ahead to, carol, when these returns get released in full? sometime in the next few days we anticipate this is what the irs in many years has not looked at is these massive deductions and expenses for deductions that apparently trump and his organizations took in order to, in order to off set income so in other words, expenses and various real estate deductions, which seem to have been very, very inflated. those are the deductions that have to be looked at in order to do that, you have to go to third parties and say how ....

Tax Returns , House Ways And Means Committee , Real Estate Deductions ,

MSNBC MSNBC Reports June 4, 2024 16:22:00

If somebody pays only $750 in taxes, and if there are not supporting documents for the deductions taken, and the average american says i give a big percentage of my income every year is the irs, as it is currently configured and is it staffed capable of handling these fairness issues? fairness is a huge issue right now. over the last decade, republicans have starved the irs of the resources it needs. as the result, the tax auditors of auditing people have declined by 30%, and the actual audits of high-income americans have declined by 70%, so the act that democrats passed, we gave $80 billion for the internal revenue ....

Average American , Tax Auditors , Internal Revenue Service , 0 Billion , 80 Billion ,