Democrats have made their next move against President Donald Trump, formally requesting the IRS audit his tax returns.
In a tweet, Wednesday night, the House Ways and Means Committee announced that it has requested six years of President Trump’s tax returns be audited by the IRS, both personal and business.
Massachusetts Congressman Richard Neal is the chairman of that powerful committee. In a statement, he said, “this request is about policy, not politics.”
CPA and Tax Attorney Paul Mancinone explained that the IRS has an internal policy of auditing the tax returns of all sitting presidents, and it’s the Ways and Means Committee’s duty to determine if that policy is being followed.
“They must follow the rules of their manual, and that’s where we are right now,” explained Mancinone. “I think Congressman Neal is ascertaining whether or not that is in fact happening.”
Democrats have been demanding to see Trump’s tax returns since the 2016 campaign, but he has claimed he can’t release them because he’s under audit by the IRS.
Mancinone said if Neal were to receive the tax returns, a long legal battle would likely ensue. And, the public shouldn’t expect to see the returns for a long time, if ever, because of privacy policies.
“It is the financial equivalent of a hospital, of releasing HIPA information,” said Mancinone. “That just doesn’t happen without serious consequences.”
The IRS has until Wednesday to comply with the Committee’s request.