A confidential Internal Revenue Service legal memo says tax returns must be given to Congress unless the president takes the rare step of asserting executive privilege, according to a copy of the memo obtained by The Washington Post.
The president faces a lot of questions about his personal finances today as House Democrats weigh their next move to try to obtain the president's tax returns. The New York Times obtained printouts of tax transcripts belonging to Mr. Trump. The Times found then-private citizen Trump lost more than a billion dollars in a decade.
President Trump and his business sued House Oversight Committee Chairman Elijah E. Cummings (D-Md.) in a bid to block a congressional subpoena of his financial records on Monday. The lawsuit seeks a court order to prevent Trump’s accounting firm from complying with what his lawyers say is an improper use of subpoena power by congressional Democrats.
Liberals abandoned a last-minute rebellion Tuesday over a bill to change the Internal Revenue Service, with Democratic leaders easily pushing legislation through the House that would bar the IRS from creating free tax preparation software.
House Democrats are telling Capital One bank to turn over a host of financial records about President Donald Trump and the Trump International Hotel, as part of a wide-ranging investigation into Trump's potential financial conflicts of interest and whether he's in compliance with the Constitution's clause ensuring he doesn't receive gifts from foreign governments.
More people view the Republican tax overhaul as a bad idea than a good one, a new Wall Street Journal/NBC News poll has found, but Americans see the GOP as better equipped than Democrats to handle taxes, trade and other economic issues.
Republicans are drafting legislation to make permanent the reductions to individual tax rates and a provision that allows businesses to fully deduct expenses immediately, according to two people briefed on the discussions.