General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow do we know that Trump's returns are still under audit? Wouldn't the truth of this
be covered under privacy laws?
rjsquirrel
(4,762 posts)that the statute of limitations on IRS audits is 3 years from the filing date.
Show us 2013, Comrade Donald.
PSPS
(13,628 posts)Nixon released his tax returns while they were being audited.
pnwmom
(109,021 posts)negotiating with the IRS, because it could put him at a disadvantage.
PSPS
(13,628 posts)pnwmom
(109,021 posts)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)You may negotiate a settlement but not the figures.
pnwmom
(109,021 posts)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)As many have already pointed out, Nixon released his returns under identical circumstances.
MADem
(135,425 posts)It will have to be Trump, or an accountant or staffer he has fired, who spills those beans.
thucythucy
(8,109 posts)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)that has obviously worked for him so far.
PSPS
(13,628 posts)pnwmom
(109,021 posts)out that Hillary has released DECADES of tax returns, and he could start by releasing the ten years prior to 2013.