- The IRS will no longer be able to review tax issues related to Trump’s past returns.
- Former IRS commissioners call the decision a “terrible precedent” that benefits Trump financially.
This week, the US Department of Justice reached a new agreement with President Donald Trump. This agreement prohibits the Internal Revenue Service from pursuing tax claims against the president, his family, trusts, and companies for past years. However, this agreement does not apply to current and future returns.
Document was signed the day after Trump agreed to drop his $10 billion lawsuit against the Internal Revenue Service over the leak of his tax documents.
The agreement created a special fund of nearly $1,8 billion that will pay people and organizations that were persecuted for political reasons by previous administrations.
Trump has been repeatedly criticized for his ties to business, so the deal with the IRS immediately sparked a backlash from former IRS employees and Democratic Party members. Former IRS Commissioner Daniel Werfel, for example, stated that he had never encountered a situation where his employees were unable to review the documents of a specific individual or company.
Another former IRS Commissioner, John Koskinen, called the agreement a “terrible precedent” that would benefit Trump financially. He explained that just one tax dispute involving him could result in liabilities of over $100 billion.
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