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Take it from someone who has a hoard of legal accordion files stashed away in a hope chest: It’s a good idea to keep your tax records. However, if you’re going through a phase of trying to get rid of everything, the IRS is (sort of) clear on how many years to keep the paper trail. How Long To Keep Your Tax Records Let’s go in descending order: Forever: If you never filed a return, or if you filed a fraudulent return (neither of which is recommended) 7 years: If you file a claim for a loss from worthless securities...

A former consultant with the Internal Revenue Service (IRS) has been charged with disclosing former President Trump's tax returns to the New York Times while he was in office, federal prosecutors said Friday. The Justice Department identified the suspect as Charles Littlejohn, 38, a Washington D.C. resident. In a federal complaint, the DOJ said Littlejohn disclosed the tax returns of "thousands of the nation’s wealthiest individuals" to news organizations and tax information associated with a "high-ranking government official" to a different news outlet. Fox News was told the second news organization that received stolen tax information is Pro Publica, a...

The final act of the Democrat majority on the House Ways and Means Committee was to make public several years of Donald Trump’s tax returns, which the Committee obtained after a prolonged legal battle. The tax returns confirmed that, despite being one of the richest people in America, Donald Trump paid very little in federal income tax. In fact, in at least one year he paid under a thousand dollars.Trump’s success in minimizing his tax liability without ever being audited is surprising only to those who think IRS audits are mainly used to catch rich “tax cheats.” According to data...

On Dec. 30, as Washington shut down for the Christmas-New Year holidays and Republicans prepared to take over the House of Representatives, Democrats on the House Ways and Means Committee, in their final days of power, released copies of former President Donald Trump’s tax returns from 2015 through 2020.Democratic lawmakers had fought for years to get the documents. They claimed they needed them not for partisan political reasons but in order to oversee the Internal Revenue Service more effectively. The “legislative purpose” rationale was always a joke; everyone knew that, once they had the returns, Democrats would release them to...

As you may have heard by now, the insane and radical Democrats in our nations congress have gotten ahold of, and access to former President Donald J. Trump’s tax returns. What you may not be aware of, is that it’s an absolute nothing burger, and in fact the 45th President actually lost money and got poorer during his time in office. In fact, it’s so bad that Mitch McConnell and Nancy Pelosi got filthy rich and much richer, meanwhile Donald Trump got much much poorer. How is this someone who’s “taking advantage of the system” as the bogus Jan 6...

Former President Donald Trump’s tax returns will be released by the House Ways and Means Committee on Friday morning. “The returns will be placed into the congressional record on Friday morning during a House pro forma session. That pro forma session will occur around 9 a.m. ET on Friday. There will also be a formal announcement Friday from the committee. The highly anticipated release comes after the panel last week asserted that the IRS failed to properly audit the former president’s taxes while he was in office, CNN reported. “The committee released a report that detailed six years’ worth of...

Donald Trump's tax returns will be made public at midday after a nearly four-year-long fight that saw the former president fight tooth-and-nail to shield his financial statements from public view. The Democrat-controlled House Ways and Means Committee voted last Tuesday evening to release the returns, in a debate that lasted more than three hours behind closed doors. The final vote was 24 to 16. All Democrats voted in favor of the action while all Republicans on the panel voted against.... ...Six years' worth of Trump's most recent tax returns will be covered, as well as documents from eight of his...

I never cared much about Donald Trump’s tax returns. Why should I? Why should anybody?So I pretty much ignored all the hoopla surrounding the release when they were dumped out into the public. Of all the presidents we have had in the past few decades, Trump was the one least likely to use his office to get rich.He is already rich. So rich that he donated his salary every year that he was president.All the ridiculous talk of emoluments, schemes to use the office to enrich himself seemed beside the point. Trump loves himself some money and will do ridiculous...

WASHINGTON — Before Donald Trump became president and after, his exceedingly complex and voluminous tax returns came under regular scrutiny by the Internal Revenue Service. The number of agents assigned to the audit team: one. After Trump left office, the IRS said it was beefing up the audit team, to three. The tax agency itself acknowledged that it was still overwhelmed by the complexity of Trump’s finances and the resistance mounted by the former president and his sophisticated army of accountants and lawyers, which included a former IRS chief counsel and raised questions early last year about why even three...

The amount of income, deductions and taxes paid by or refunded to former President Donald Trump while serving in the White House was detailed in a new report released Tuesday night. The report reveals that Trump on his federal tax returns declared negative income in 2015, 2016, 2017 and 2020, and that he paid a total of $1,500 in income taxes for the years 2016 and 2017. On their 2020 income tax returns, Trump and his wife Melania paid no federal income taxes and claimed a refund of $5.47 million, according to the report by the staff of the Joint...

Democrats are racing to release information about former President Donald Trump's taxes before Republicans take control of Congress early next year. Politico reported Friday that the House Ways and Means Committee will meet privately Tuesday at 3 p.m. to review the tax documents and vote on whether all or a portion of Trump's tax returns will be publicly released. After a lengthy legal battle, House Ways and Means Committee Chair Richard Neal got his hands on Trump's tax returns in November.... ...They consist of Trump's personal returns and returns from eight business entities, Politico said. Democrats believe they're on solid...

There was much liberal gnashing of teeth when Donald Trump appointed Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett to the Supreme Court. Libs feared that those Justices would do Donald Trump's bidding without question. But it hasn't turned out that way, as underlined in the brief, unanimous decision just issued by the Court clearing the way for the IRS to turn over Trump's tax returns to the Democrat-controlled House. In reaction, Joe Scarborough went on a long spiel on today's Morning Joe, hailing the Court's conservative Justices. Get the rest of the story and view the video here.

Former President Donald Trump filed an emergency appeal to the Supreme Court Monday asking the nine justices to prevent the House Ways and Means Committee from seeing his tax returns. In the 38-page filing, Trump attorney Cameron Norris asked the high court to stay a DC Circuit Court of Appeals ruling from August which found the committee’s request for the 45th president’s returns between 2013 and 2018 to be justified. “Left unreviewed, the D.C. Circuit’s decision will have far-reaching implications,” Norris wrote. “It will establish important (but incorrect) precedent for the political branches moving forward, binding in the circuit in...

The political persecution of Trump continues. Just one day after the FBI raided Trump’s Florida residence, a court ruled that the former president’s tax returns must be released to the House Ways and Means Committee. A panel for the US Court of Appeals for the District of Columbia ruled 3-0 on Monday, upholding a prior decision by a federal judge. Trump will likely take this fight to the Supreme Court.

To say that Donald Trump was a corrupt president is to state the obvious: He abused his power and obstructed justice; he pressured his staff to serve his interests over the nation’s; he received money, albeit indirectly, from foreign governments; he funnelled taxpayer money into his businesses; and he tried his best to subvert democracy to hold onto power. And that’s just scratching the surface. But while there are many accounts of his corruption, lawmakers and the public are far from knowing all the details — and thus, all the holes in our anticorruption laws that may need to be...

The income tax returns of former President Donald Trump must be released by the IRS to Congress, the Department of Justice said. The DOJ's Office of Legal Counsel said that Congress had made a legitimate request to see Trump's tax returns. The decision came more than a year after the Supreme Court said that Trump's tax returns and other financial records had to be turned over by his longtime accountants to Manhattan District Attorney Cyrus Vance Jr. as part of a criminal probe. The income tax returns of former President Donald Trump must be released by the IRS to Congress,...

Elder has filed a lawsuit Monday, July 19, 2021, challenging a decision by California election officials to block him from running in the state's Sept. 14 recall election, saying he's the target of political "shenanigans" by Sacramento Democrats. (AP Photo/Marcio Jose Sanchez, File) LOS ANGELES — Conservative talk radio host Larry Elder is suing over a decision by California election officials to block him from running in the September recall election that could oust Gov. Gavin Newsom, saying he's the target of political “shenanigans” by Democrats

New York prosecutors on Thursday unveiled the first charges in their grand jury investigation into the Trump Organization, charging the former president’s company and its chief financial officer (CFO), Allen Weisselberg, with tax-related crimes. Prosecutors allege a 15-year scheme in which the Trump Organization compensated Weisselberg in a manner that allowed the company and the executive to evade taxes. The defendants deny any wrongdoing and argue that the charges are politically motivated. The allegations stem from a years-long investigation by the Manhattan district attorney’s office that has involved prosecutors obtaining former President Trump’s tax returns. Thursday’s indictment doesn’t charge the...

The IRS is falling behind in processing millions of income tax returns, potentially delaying refunds for many Americans.According to the Taxpayer Advocate Service, an independent arm of the IRS focused on tax filers' rights, the agency is holding almost 31 million returns for manual processing just ahead of the May 17 tax filing deadline. That backlog has grown by 2 million returns since mid-April, National Taxpayer Advocate Erin M. Collins told CBS MoneyWatch. "I was hoping it would go down, but I'm not that optimistic," she said of the logjam. "Taxpayers will continue to experience unusually long delays. I don't...

The district attorney leading a high-profile investigation into former President Donald Trump plans on leaving office later this year.Manhattan District Attorney Cy Vance, a Democrat, told the New Yorker that he will not seek reelection and plans on retiring on Dec. 31.