Donald Trump, Republican presidential nominee, continues to refuse to publish his tax returns using the defence of currently being under audit by the Internal Revenue Service (IRS), despite politicians, voters and influential business leaders, putting pressure on him
Trump has previously claimed that he is unable to release his tax returns because he is currently being audited by the IRS even though President Nixon released his under similar circumstances.
However, the IRS in a statement said: ‘Federal privacy rules prohibit the IRS from discussing individual tax matters. Nothing prevents individuals from sharing their own tax information.’
The Public Policy Polling (PPP) national poll, taken after the Republican and Democratic parties' conventions, found that 62% of voters believe Trump needs to release his tax returns with only 23% saying that it is not necessary.
Some tax lawyers have commented that they would advise against publishing the tax returns as it is not in an individual’s best interest as if a person is under investigation they should not be talking to the media.
In a campaign rally for Hillary Clinton, Democratic presidential candidate, on 1 August, US multimllionaire investor Warren Buffett challenged Trump to exchange tax returns with him as he is also currently under audit.
Buffett is the fourth richest person in the world and is chairman and chief executive of multinational conglomerate Berkshire Hathaway.
Buffett said: ‘I will meet him in Omaha or Mar-a-Lago or, he can pick the place, anytime between now and election. I'll bring my return, he'll bring his return. We're both under audit. And believe me, nobody's going to stop us from talking about what's on those returns.’
Businessman, Moishe Mana has offered to give $1m (£755,115) to the charity of Trump’s choice if he publishes his tax returns.
An unnamed Republican donor has also made a similar offer of $5m to charity in return for Trump’s tax history.
Last year, Hillary Clinton released her family’s tax returns from 2007 to 2014 showing that they had paid $43,885,310 in federal taxes and $14,959,450 in charitable contributions, as well as $13,625,777 in state and local income taxes.
Trump has previously tweeted in response to the Associated Press who reported that he will not release his tax returns before election saying: ‘In interview I told @AP that my taxes are under routine audit and I would release my tax returns when audit is complete, not after election!’
On a number of occasions Trump has said ‘you don’t learn anything from a tax return’.
