Trump's Deal With His Administration Also Ends His Tax Audits [View all]

Source: WSJ

WASHINGTON—President Trump’s extraordinary agreement with the federal government expanded Tuesday to end all pending tax audits of him and his businesses, according to a document posted by the Justice Department.

In the document, signed by Acting Attorney General Todd Blanche, the government said it would be “FOREVER BARRED and PRECLUDED” from pursuing certain claims against Trump, his businesses and family members. The agreement specifically blocks the government from taking any action regarding tax returns that already have been filed.

That agreement extends the settlement announced Monday, in which the government agreed to create a $1.8 billion fund to compensate people who claim to have been victims of so-called weaponization by the government, a move that could lead to payouts to Trump allies.

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The president received no direct financial payout from the settlement, and Blanche told senators at a hearing Tuesday that Trump wouldn’t get money from the fund. Ending the audits, however, could bring a significant financial benefit to the billionaire president and his family.


Read more: https://www.wsj.com/politics/policy/government-deal-with-trump-expands-to-end-tax-audits-aad8f2bc