Politics
President Donald Trump and His Family Granted Permanent Immunity From IRS Audits
President Donald Trump and his two eldest sons will likely never face an IRS audit again.
The U.S. Department of Justice has granted Donald, Donald Trump Jr., Eric Trump, and the Trump Organization permanent immunity from all existing and past IRS tax audits, the New York Times reported.
The move is part of a sweeping settlement that would see Donald, 79, drop his $10 billion lawsuit against the agency.
As part of the deal, a $1.8 billion fund will be created to compensate those who claim they were targeted by “lawfare,” a term the president and his allies use to describe what they say was politically driven prosecution.
Acting Attorney General Todd Blanche made the terms explicit in a one-page addendum released Tuesday.
“The United States RELEASES, WAIVES, ACQUITS, and FOREVER DISCHARGES each of the Plaintiffs from, and is hereby FOREVER BARRED and PRECLUDED from prosecuting or pursuing, any and all claims,” Blanche wrote.
Donald filed the lawsuit in January over the 2019 and 2020 leaks of his private tax records by a former IRS employee, as reported by Time magazine.
According to the BBC, Donald and his sons argued the leaks caused significant reputational and financial damage.
The newly revealed DOJ addendum went well beyond the $1.8 billion compensation fund, effectively closing the book on all prior tax matters involving the Trump family.
A DOJ spokesperson moved quickly to clarify the scope of the agreement, stressing that the bar on IRS action applies only to existing audits and returns filed before Monday.
“There would be little point in settling several significant claims if either party could simply turn around and seek to initiate more adverse claims that could have been pursued previously,” the spokesperson said, per CNBC.
The deal comes amid heightened scrutiny of Donald’s personal finances.
Multiple reports, including US News, reported that in recent weeks the president invested several hundred million dollars in major corporate stocks, drawing sharp criticism from Democratic lawmakers who have accused him of corruption.
