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Wednesday, August 10, 2016

Donald Trump’s Tax-Return Dodge - The New Yorker

If Donald Trump continues to stonewall on releasing his tax returns, it’s clear that he’s doing so because it’s his choice, not his legal obligation.

"The law is clear about publicly releasing tax returns. The I.R.S. is prohibited from doing so, but taxpayers themselves have every right to disclose their own returns. Does the existence of an audit change the legal status of public disclosure? The answer is no; Trump can release the returns if he wants to. “He filed these tax returns under penalty of perjury with the I.R.S.,” Scott Michel, a partner at Caplin & Drysdale, a leading tax-law firm, said. “If he were to disclose the returns publicly, he’s not disclosing anything that the I.R.S. doesn’t already know about. A disclosure in and of itself cannot possibly prejudice or hurt him with his audit.”

Donald Trump’s Tax-Return Dodge - The New Yorker

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