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rjsquirrel

(4,762 posts)
1. Someone needs to tell him and the press
Wed Jul 27, 2016, 12:25 PM
Jul 2016

that the statute of limitations on IRS audits is 3 years from the filing date.

Show us 2013, Comrade Donald.

PSPS

(13,628 posts)
3. It doesn't matter. Anyone can release their tax returns anytime, being audited or not.
Wed Jul 27, 2016, 12:27 PM
Jul 2016

Nixon released his tax returns while they were being audited.

pnwmom

(109,021 posts)
6. I know he can. But he could argue that he doesn't want to release things while he's still
Wed Jul 27, 2016, 12:53 PM
Jul 2016

negotiating with the IRS, because it could put him at a disadvantage.

pnwmom

(109,021 posts)
9. Actually, it does work that way, especially with people with complicated finances.
Wed Jul 27, 2016, 01:02 PM
Jul 2016

That's why they pay lawyers and accountants to accompany them into their audits.

In addition to having proper documentation, there are issues with whether specific deductions will be allowed and other matters that can be negotiated.

From the Wall Street Journal:

When the IRS does come calling, Ms. Jeanguenat said, ask yourself: What is it that they are questioning, and what can you provide to prove your case? Receipts, canceled checks and other documentation "give you more leverage in being able to negotiate," she said, adding that she walks into audits with as much documentation as she can gather or reconstruct, including copies for the auditor.

http://www.wsj.com/articles/SB10001424052748704821704576271121807580078

PSPS

(13,628 posts)
10. Sorry, but no. Ask a real CPA and they will explain it to you.
Wed Jul 27, 2016, 01:10 PM
Jul 2016

You may negotiate a settlement but not the figures.

pnwmom

(109,021 posts)
11. You can point out to them where they made a mistake and missed something on the forms.
Wed Jul 27, 2016, 01:41 PM
Jul 2016

It does happen, especially in long returns.

This is one reason they may "negotiate settlements," as you acknowledge. Completing some complicated returns isn't always as cut and dried as you seem to think. Rather than engage in a lengthy dispute about whether the taxpayer's lawyer is correct or the IRS is correct (on the interpretation of the law), the IRS will often engage in settlement negotiations.

PSPS

(13,628 posts)
13. Regardless of all of this, it still isn't an issue that prevents anyone from releasing their return.
Wed Jul 27, 2016, 02:24 PM
Jul 2016

As many have already pointed out, Nixon released his returns under identical circumstances.

MADem

(135,425 posts)
4. No one in government can tell us.
Wed Jul 27, 2016, 12:29 PM
Jul 2016

It will have to be Trump, or an accountant or staffer he has fired, who spills those beans.

thucythucy

(8,109 posts)
5. What difference does being audited make?
Wed Jul 27, 2016, 12:45 PM
Jul 2016

He filed those returns, swearing under oath that they were truthful and accurate to the best of his knowledge.

I can't believe the press is letting him get away with this crap. Well, actually I can.

pnwmom

(109,021 posts)
8. A lot of people wouldn't blame him for not releasing while the audit is ongoing. It's an argument
Wed Jul 27, 2016, 12:55 PM
Jul 2016

that has obviously worked for him so far.

pnwmom

(109,021 posts)
15. I disagree with his decision but it is obviously working. More effort should be spent on pointing
Wed Jul 27, 2016, 02:38 PM
Jul 2016

out that Hillary has released DECADES of tax returns, and he could start by releasing the ten years prior to 2013.

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