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☆ Here's how much money Donald Trump told the IRS he made each year from 2015 to 2020, according to his personal tax returns
▼ + stars: | 2022-12-30 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

The House Ways and Means Committee released Trump's tax returns to the public on Friday. The documents reveal details of the former president's personal finances from 2015 to 2020. They also include how much Trump told the Internal Revenue Research he made each year. Significantly, the documents released on Friday show much he and former first lady Melanie Trump told the Internal Revenue Service they made on their jointly-filed personal tax returns from 2015 to 2020. Committee Chairman Richard Neal first requested the documents from the Internal Revenue Service in 2019.

☆ Trump says Democrats 'weaponized' his tax returns while simultaneously boasting that the records show what a clever businessman he is
▼ + stars: | 2022-12-30 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +4 min

Trump accused Democrats of weaponizing his tax returns against him. But he simultaneously said the documents, released Friday, show he's a savvy businessman. The documents released Friday — which span thousands of pages — showed that Trump and then First Lady Melania Trump reported millions in losses from 2015 to 2020. The Trump Organization now has felony status and could be ordered to pay up to $1.6 million in fees when it's sentenced next month. That's in addition to the $250 million civil lawsuit that New York Attorney General Letitia James' office filed against Trump, his three eldest children, and the Trump Organization in September.

☆ Trump's tax returns released by House Ways and Means Committee
▼ + stars: | 2022-12-30 | by ( Jacob Pramuk | ) www.cnbc.com time to read: +1 min

Documents arrive as the House Ways & Means Committee holds a hearing regarding tax returns from former President Donald Trump on Capitol Hill in Washington, Tuesday, Dec. 20, 2022. The House Ways and Means Committee released six years of former President Donald Trump's tax returns on Friday, offering the most detailed account yet of his finances while in the White House. The Ways and Means Committee last month obtained Trump's personal and federal income tax returns for the years 2015 to 2020. The committee released a report summarizing the ex-president's returns earlier this month. The Democratic-led panel released the returns only days before Republicans are set to take control of the House and the Ways and Means Committee.

☆ Dow headed back below 30,000, slim chance of soft landing for economy in 2023: CNBC CFO survey
▼ + stars: | 2022-12-28 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Throughout 2022, conversations with individual CFO Council members have more often than not tended to the view that the economy is headed for a hard landing. The CNBC CFO Council Q4 2022 survey is a sample of the current outlook among top financial officers. Recession is comingIt's been remarked that no recession has been more predicted than the one that still hasn't hit the economy. In a few key areas for the economy and markets, CFOs do think the worst is in. An equal percentage (roughly 40%) of CFOs say their spending and headcount will remain the same next year as those who expect it to increase.

The House Ways and Means Committee plans to release Donald Trump’s tax returns on Friday, a spokesperson for the Committee said Tuesday. The assortment of six years of the former president's personal returns and some of his business returns are expected to be placed into the Congressional record on Friday as part of the House’s pro-forma session. The clock is ticking for the committee, which will turn over control to Republicans when the new Congress is sworn in next week. The committee obtained the returns in November, following a years-long court fight for the closely-held documents that other presidents have routinely made public for the last four decades. A 39-page report from the Joint Committee on Taxation released last week showed Trump had been paying relatively little in taxes, including paying only $750 in federal income taxes in 2016 and 2017 and none in 2020.

☆ Trump tax returns to be released by U.S. House panel on Friday
▼ + stars: | 2022-12-27 | by ( Moira Warburton | ) www.reuters.com time to read: +2 min

REUTERS/Yuri GripasDec 27 (Reuters) - Former Republican President Donald Trump's redacted tax returns will be made public on Friday, a spokesperson for the U.S. House of Representatives Ways and Means Committee said on Tuesday. The committee released a report into its findings last week, which said the Internal Revenue Service (IRS) broke its own rules by not auditing Trump for three of the four years of his presidency. The documents to be released on Friday are expected to include Trump's tax returns filed between 2015 and 2021, the years he ran for and served as president. Trump's tax returns were not released alongside last week's report because they contained sensitive information that had to be redacted before publication, committee members said. Trump was the first presidential candidate in decades not to release his tax returns during either of his campaigns for president.

☆ More Than 1.5 Million Without Power as Winter Storm Hits U.S.
▼ + stars: | 2022-12-23 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Donald Trump’s Tax Returns: What They Show Six years of former President Donald Trump’s tax returns will be made public, capping a yearslong legal and political standoff, after the House Ways and Means Committee voted to release them. Here’s what their report revealed. Illustration: Adele Morgan

☆ Flights Canceled, Deliveries Threatened as Pre-Christmas Winter Storm Hits U.S.
▼ + stars: | 2022-12-23 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Ali Alexander said he believed White House wanted him to lead rallygoers to Capitol "Stop The Steal" organizer Ali Alexander believed the White House wanted him to lead attendees of Trump's Jan. 6 rally to the Capitol, the report said. Alex Jones, who has claimed the White House told him to lead the march, texted Wren at 12:27 p.m. Finally one of the staffers told Trump they thought he should focus on his speech. Trump told Jan. 6 demonstrators at the Capitol in a Twitter video that he loved them but that they should go home. The information was expected to be available as soon as Thursday — the day the House Jan. 6 committee is set to issue its final report on the riot.

☆ FTX’s Sam Bankman-Fried Released on $250 Million Bond
▼ + stars: | 2022-12-23 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ Factbox: Jan. 6 report adds to Trump's mounting legal problems
▼ + stars: | 2022-12-23 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +8 min

A New York judge ordered that an independent monitor be appointed to oversee the Trump Organization before the case goes to trial in October 2023. Trump asked Raffensperger to "find" enough votes needed to overturn Trump's election loss in Georgia. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties. A Trump Organization lawyer has said it would appeal the decision, while Trump has defended his company's operations. Allen Weisselberg, the company's former chief financial officer, pleaded guilty and was required to testify against the Trump Organization as part of his plea agreement.

House Democrats are scrutinizing why the Internal Revenue Service failed to fully audit Donald Trump's tax returns when he was in the White House, despite an agency policy mandating such a review. Some insight into the lapse came in a report Tuesday from the Joint Committee on Taxation (JCT), a bipartisan congressional panel that examined Trump's tax returns from 2015-20. The JCT report was issued Tuesday, after the House Ways and Means Committee voted to make Trump's 2015-20 tax returns public. Trump was the first president not to make his tax returns public since the 1970s. Neal is pressing for legislation that would require the IRS to publish and audit presidential tax returns.

☆ FTX’s Sam Bankman-Fried Transferred to U.S. Custody, Flies to New York
▼ + stars: | 2022-12-22 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ The Democratic Trump Tax-Return Dump
▼ + stars: | 2022-12-22 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

President Trump’s Democratic critics have broken another political norm, and it’s a big one. On Tuesday the House Ways and Means Committee voted to release six years of Mr. Trump’s tax returns. The Chairman of Ways and Means has power under the law to look at private taxpayer data but must demonstrate a legitimate legislative purpose. During the 2016 campaign, Mr. Trump refused to release his tax returns, and we criticized him for it. Mr. Trump resisted, and Mr. Neal finally won in court last month.

☆ Woodlands Preservation Emerges as Issue in President Trump’s Personal Income Tax Filings
▼ + stars: | 2022-12-22 | by ( Peter Grant | Joe Palazzolo | ) www.wsj.com time to read: 1 min

A $21.1 million tax deduction involving former President Donald Trump’s Seven Springs estate has become a point of contention in Mr. Trump’s tax returns. In 2015, then-businessman Donald Trump pledged to preserve more than 150 acres of woodland on his Westchester County, N.Y., estate, enabling him to take a big charitable deduction on his federal taxes. That $21.1 million tax deduction involving his Seven Springs estate now has emerged as a point of contention in Mr. Trump’s taxes, according to the House Ways and Means Committee, which voted Tuesday to make six years of his tax returns public.

☆ Following Trump tax revelations, U.S. House passes bill to boost oversight
▼ + stars: | 2022-12-22 | by ( Andy Sullivan | ) www.reuters.com time to read: +2 min

Trump's tax records show that his income and tax liability fluctuated dramatically between 2015 and 2020, during his first presidential bid and subsequent term in office. They show that Trump and his wife Melanie minimized their tax liability through large deductions and losses and paid little or no income tax in several of those years. Though the IRS is supposed to audit presidents' tax returns each year, it did not do so until Democrats pressed for action in 2019. The legislation passed by the House would require the IRS to examine presidential tax returns each year and report on the status of those audits. Ways and Means Committee Chairman Richard Neal, a Democrat, said the legislation aimed to strengthen presidential oversight, not target Trump.

☆ House Panel Releases Overview of Donald Trump’s Tax Returns, Promises More Details
▼ + stars: | 2022-12-21 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

The House Ways and Means Committee late Tuesday made public details of six years of former President Donald Trump’s taxes and audit records, capping a yearslong legal and political fight and showing that he reported little income-tax liability for several years. The reports, drawn from previously confidential Internal Revenue Service documents, said Mr. Trump and his wife, Melania Trump, reported negative adjusted gross income in four of the six years from 2015 through 2020. The Trumps paid some form of federal taxes every year, but reported income-tax liability of $750 or less in three of the six years.

☆ IRS Urged to Examine Donald Trump’s Loans to His Children
▼ + stars: | 2022-12-21 | by ( Laura Saunders | ) www.wsj.com time to read: 1 min

Donald Trump made loans to his children Ivanka, Donald and Eric that the Internal Revenue Service should scrutinize, according to a recommendation by the staff of the Joint Committee on Taxation to House Ways & Means Committee Chair Richard Neal (D., Mass.). The suggestion was part of the staff’s analysis of Mr. Trump’s tax returns for 2015-2020. According to the report, Mr. Trump declared a total of $51,000 of interest paid to him by his three older children for each tax year from 2015 through 2019. For 2020, the amount of interest dropped to $46,000. The report questioned whether these related-party loans, as they are known, were “bona fide arms-length transactions” or were disguised gifts that should be taxable to Mr. Trump.

☆ House Panel Votes to Release Donald Trump’s Tax Returns
▼ + stars: | 2022-12-21 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

The House Ways and Means Committee voted Tuesday to release former President Donald Trump’s tax returns, capping a yearslong legal and political fight. The committee released reports and some documents that revealed details about Mr. Trump’s tax returns and audits on Tuesday, showing that he and his wife, Melania Trump, reported negative adjusted gross income in four of the six years from 2015 through 2020. The Trumps paid some form of federal taxes every year, but reported income-tax liability of $750 or less in three of the six years. A full set of tax documents is expected to become public in subsequent days.

☆ Read Congress' reports on Trump's tax returns
▼ + stars: | 2022-12-21 | by ( Nbc News | ) www.nbcnews.com time to read: 1 min

The House Ways and Means Committee voted on party lines Tuesday to release to the public six years of former President Donald Trump's tax returns. Shortly after the vote, the committee released a pair of documents describing its investigation into the IRS audit of Trump's tax returns, as well as a brief summary of documents and recommendations for the agency. Read the two reports below.

☆ Donald Trump Reported Little or No Income-Tax Liability for Several Years, Records Show
▼ + stars: | 2022-12-21 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Donald and Melania Trump reported negative income in four of the six years from 2015 through 2020 and little or no income-tax liability for several years, according to tax documents released by a House committee. The Trumps paid some form of federal taxes every year, but they reported income-tax liability of $750 or less in three of the six years, documents released by the House Ways and Means Committee showed. The couple’s adjusted gross income totaled negative $53.2 million during that period.

WASHINGTON, Dec 20 (Reuters) - A U.S. House of Representatives committee voted on Tuesday to release partially redacted tax filings from former President Donald Trump and said tax authorities had failed to properly scrutinize his returns while he was in office. The House Ways and Means Committee voted to release a summary of Trump's tax returns between 2015 and 2021, the years when he was running for president and serving in the White House, panel members said. Committee chairman Richard Neal, a Democrat, said a redacted summary of Trump's tax returns would be released within days. Trump has said that he cannot release his tax returns because they were being examined by the IRS. Another House committee on Monday asked federal prosecutors to prosecute Trump for sparking the deadly Capitol attack on Jan. 6, 2021.

The House Ways and Means Committee voted Tuesday to make six years of former President Donald Trump’s tax returns public — potentially ending years of speculation about what they might reveal about his business dealings and personal wealth. Rep. Brendan Boyle, D-Pa., said the vote will make public the tax returns and a separate report about Trump's tax information. It is the power to embarrass, harass or destroy a private citizen through disclosure of their tax returns," Brady said. Trump was the first president to refuse to make his tax returns public since the 1970s. In order to fairly make that determination, we must obtain President Trump’s tax returns and review whether the IRS is carrying out its responsibilities," Neal said in a statement in April 2019.

WASHINGTON, Dec 20 (Reuters) - A U.S. House of Representatives committee voted on Tuesday to release partially redacted tax filings from former President Donald Trump, which could lead to more unwelcome scrutiny for the former president as he mounts another White House bid. The House Ways and Means Committee voted to release a summary of Trump's tax returns between 2015 and 2021, the years when he was running for president and serving in the White House, panel members said. Like other committee Republicans, he voted against their release on the grounds that it could set a bad precedent. REUTERS/Jonathan ErnstCandidates are not required by law to release their tax returns, but previous presidential hopefuls of both parties have voluntarily done so for several decades. Another House committee on Monday asked federal prosecutors to prosecute Trump for sparking the deadly Capitol attack on Jan. 6, 2021.

☆ Trump's tax returns were wheeled through the Capitol in a blue wagon ahead of a Ways and Means Committee hearing on their possible release
▼ + stars: | 2022-12-21 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +2 min

The Dem-controlled House Ways & Means Committee will decide whether to release Trump's tax returns. Democrats have been working since 2015 to gain access to the former president's financial documents. Lawmakers on the committee are set to vote Tuesday whether to publicly release Trump's returns, which he kept confidential during his campaign and presidency in a buck of recent tradition. It was unclear when exactly the returns would be released if the committee decides to make them public. Democrats on the committee have long been working to gain access to the former president's financial documents spanning from 2015 to 2020, while Republicans have framed the Democrats' fight as politically-motivated.

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