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Trump’s tax returns to be released Friday by House panel

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CNN

The House Ways and Means Committee will release former President Donald Trump’s tax returns on Friday morning, a source familiar with CNN confirmed.

The returns will be placed on the Congressional record Friday morning during a pro forma session of the House. This pro forma session will take place around 9 a.m. ET on Friday. There will also be an official announcement on Friday from the committee.

The highly anticipated release comes after the panel claimed last week that the IRS failed to properly audit the former president’s taxes while in office.

The committee released a report detailing six years of the former president’s tax filings, including his claims of massive annual losses that significantly reduced his tax burden.

Speaker Richard Neal and his fellow Democrats said records they obtained showed the presidential audit program did not work as intended. Neal, a Democrat from Massachusetts, charged that the required full audit of Trump’s taxes “did not take place” because his statements were subject to the mandatory audit only once, in 2019, after Democrats inquired.

The committee also released a supplemental report from the Joint Committee on Taxation that included details of Trump’s tax returns from 2015 to 2020, ahead of the scheduled release of the returns themselves.

The release of Trump’s tax returns marks the conclusion of a nearly four-year legal battle House Democrats waged against the former president after he took control of the House in 2019.

The audit program was important to Democrats because it was the justification they used to get the returns in the first place – but the Democratic lawsuit was also tied in part to longstanding suspicions about Trump’s taxes after he broke the norm and refused to release his returns as a candidate and while in office.

This story is broken and has been updated.

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