“Donald Trump says he will release his tax returns when an IRS audit concludes, dangling the possibility of unveiling the documents before the election. The Republican presidential nominee omits one major point: He and his attorneys have substantial knowledge about when the audit will end and some ability to slow the process,” the Wall Street Journal reports.
“The existence of outstanding audits for years as far back as 2009 indicates Mr. Trump has given the Internal Revenue Service permission to extend its work beyond the three-year statute of limitations governing such inquiries… Mr. Trump’s lawyers know the IRS’s deadlines, and can take their time negotiating settlements and responding to document request.”
“Trump is likely to become the first major-party presidential candidate since 1976 to release no tax returns. He has cycled through reasons for his refusal, returning to the argument that he can’t release them during an audit.”Save to Favorites