Donald Trump Tax Returns: October 19 Release Date Confirmed?
Republican presidential nominee Donald Trump has not released his tax returns yet.Advertisement
Although Democratic presidential nominee Hillary Clinton and Senator Tim Kaine of Virginia have released their returns, and Mike Pence will possibly do so this week, Trump refuses to release his returns.
Although Trump isn’t bound legally to make his returns public, every presidential nominee from either party has done so in the last four decades.
Also read: Donald Trump Tax Plan – A Meringue For All
Donald Trump tax returns: Corps veteran Pete Kiernan hopes to raise $25,000
As reported by CNN Money, the reason of the business mogul for not releasing his tax returns is that they are still under audit. But according to tax experts, an audit should not prevent Trump from releasing his returns. Trump has said he will do so once the audits are completed.
Meanwhile, Corps veteran Peter Kiernan is planning to raise $25,000 in a bid to have Trump release his returns. Kiernan said that if Trump makes his returns public by the final debate on October 19, he will donate the raised money to non-profit organizations.
The campaign’s main page, which contains the entire list of organizations, can be viewed here.
In contrast, in 2012 Trump said President Barack Obama was “the least transparent president in the history of this country” and that he will donate $5 million to charity if Obama made “his college records and applications” and “passport applications and records” public.
Donald Trump tax returns: Trump’s businesses ‘cross or have crossed paths with at least 16 federal agencies’
As reported by McClatchy DC, Trump’s businesses are not only international but “cross or have crossed paths with at least 16 federal agencies.”
In the past, Trump has said that he will be releasing his returns, according to ABC News.
At present, it is known that Trump makes a lot of money, donates to charity (which, as reflected by his campaign’s statement, has been more than $100 million in recent years), and that he tries to keep his tax bill low.
Some of the information the top two pages of his 1040, plus his Schedule A, could reveal include the taxable income he made, the amount he paid in taxes and effective tax rate, the deductions he takes (medical expenses, real estate taxes, and mortgage interest, among others), and the income he made on investments (interest, dividends and capital gains).