A House committee made public six years of former President Donald Trump’s tax returns today.
The House Ways and Means Committee said it requested and ultimately obtained tax returns and related IRS audit materials from the Treasury Department for the tax years 2015 through 2020 for Donald J. Trump, the Donald J. Trump Revocable Trust, and the following corporate entities:
- DJT Holdings LLC
- DJT Holdings Managing Member LLC
- DTTM Operations LLC
- DTTM Operations Managing Member Corp. LLC
- LFB Acquisitions Corp.
- LFB Acquisition LLC
- Lamington Farm Club, LLC d/b/a Trump National Golf Club-Bedminster
However, these represent only a portion of Trump’s sprawling business interests. The former president is financially linked to more than 400 separate entities, including trusts, limited liability corporations and partnerships, according to House researchers.
The panel’s top Republican, Rep. Kevin Brady of Texas, has called the release of the documents “unprecedented,” and said it will
jeopardize the right of every American to be protected from political targeting by Congress.”
Trump responds to his taxes being released to the public: “I don’t know them. I’ve never met my taxes. I may have posed for a picture with them, but that’s it.” pic.twitter.com/rL0sT93hKB— Mike Sington (@MikeSington) December 27, 2022
In a video statement last Friday, Trump called the release
an outrageous abuse of power…”
He claimed that Democrats had
illegally obtained and leaked my personal tax returns, which show only that I’ve had tremendous success.”
Trump’s finances are known to be complex, and the documents being released today only represent a portion of his business empire over a six-year period.
CBS MoneyWatch asked two tax experts some of the things they’d be looking for like;
- How much Trump continued to earn from the book and TV deals that helped make him a household name
- How much he donated to charity between 2015 and 2020
- How his businesses took advantage of provisions in the tax code that benefit real estate developers
Previously published excerpts of Trump’s returns, and testimony at the Trump Organization’s recent criminal trial, have focused on periods in which he reported large financial losses — allowing him to pay little or nothing in federal income taxes some years.
BREAKING: Former President Trump’s tax returns have been released by a House committee after years of legal battles. https://t.co/iH90K1xuUq— NBC News (@NBCNews) December 30, 2022
(via CBS News, NBC News)