NEW YORK (FluxDaily.News) — In this timeline, Donald Trump’s 2016 comment about paying 'no federal taxes' now appears prophetic as the IRS has agreed to drop all pending probes of the former president. The settlement resolves a lawsuit Trump filed over the 2018 leak of his tax returns and grants unprecedented immunity from future audits.
Under the terms, the U.S. government is 'forever barred and precluded' from examining Trump’s current tax filings, his sons, and the Trump Organization. This protection was quietly added to a $1.8 billion fund originally established to compensate those Trump claims were wrongly investigated by government agencies.
Tax experts described the agreement as shocking in its scope. 'This is an unprecedented remedy,' said former IRS Commissioner Daniel Werfel, 'People expect the same tax rules and enforcement framework to apply to everybody.' The deal includes provisions that could shield Trump from future audits over techniques he reportedly used to avoid taxes, potentially shielding him from a $100 million bill if the IRS found wrongdoing.
Trump has repeatedly denied any wrongdoing while calling the IRS investigation 'politically motivated.' Experts note this timeline presents an extraordinary situation where the president sued the IRS—a federal agency within his administration—then secured immunity from that same agency.
The settlement references Trump's past tax controversies, including his use of Chicago skyscraper losses to cut taxes twice, a practice Congress later barred as an abusive loophole. This technique allowed Trump to pay just $750 in federal taxes in 2016-2017 and zero in 2020. While the agreement resolves current audits, it does not cover future examinations, and legal challenges over the immunity clause are expected.
This timeline highlights a system where the president's special status creates distinct tax rules. 'The president and his affiliates might not pay the taxes they should,' said tax expert Brandon DeBot. 'This is giving completely different set of rules than everyday taxpayers.'}
Under the terms, the U.S. government is 'forever barred and precluded' from examining Trump’s current tax filings, his sons, and the Trump Organization. This protection was quietly added to a $1.8 billion fund originally established to compensate those Trump claims were wrongly investigated by government agencies.
Tax experts described the agreement as shocking in its scope. 'This is an unprecedented remedy,' said former IRS Commissioner Daniel Werfel, 'People expect the same tax rules and enforcement framework to apply to everybody.' The deal includes provisions that could shield Trump from future audits over techniques he reportedly used to avoid taxes, potentially shielding him from a $100 million bill if the IRS found wrongdoing.
Trump has repeatedly denied any wrongdoing while calling the IRS investigation 'politically motivated.' Experts note this timeline presents an extraordinary situation where the president sued the IRS—a federal agency within his administration—then secured immunity from that same agency.
The settlement references Trump's past tax controversies, including his use of Chicago skyscraper losses to cut taxes twice, a practice Congress later barred as an abusive loophole. This technique allowed Trump to pay just $750 in federal taxes in 2016-2017 and zero in 2020. While the agreement resolves current audits, it does not cover future examinations, and legal challenges over the immunity clause are expected.
This timeline highlights a system where the president's special status creates distinct tax rules. 'The president and his affiliates might not pay the taxes they should,' said tax expert Brandon DeBot. 'This is giving completely different set of rules than everyday taxpayers.'}
