The IRS turned over six years of former President Donald Trump’s federal income tax returns to the House Ways and Means Committee a week after the Supreme Court rejected its bid to block the Democratic-controlled panel from obtaining them.
A Treasury Department spokesman said: “Treasury complied with last week’s court decision.”
Finally, the real income of the former president will be known. If less than what he has said, it could affect his property values, his relationships with the banks that have lent him money and, most of all, his place in the business world.
The tax returns were requested by the House Committee investigating the failed coup of January 6, 2021, the attack on the Capitol.
For years the former president maintained that he could not show them because he was subject to an alleged audit. Now the truth of that assertion will be known.
Led by Democratic Rep. Richard Neal of Massachusetts, the committee had sought six years of Trump’s tax records, especially from the time he served as president. However, the documents are not expected to be immediately released to the public.
Neal said Wednesday that Democrats would meet as a group to discuss how to handle tax returns and get legal advice on how to proceed. However, that meeting has not yet been scheduled, he said.
A 2020 New York Times investigation found that Trump did not pay federal income taxes in 10 out of 15 years beginning in 2000 because he reported losing significantly more than he earned.
