Candidates Are Not Legally Required to Release Tax Returns
No. There is no legal requirement of any kind that presidential candidates release tax returns from any year. Indeed, there is a strict, strong constitutional right to privacy for all tax returns. Thus, tax returns can be released by an individual taxpayer, but cannot released by the IRS to the public. However, one Senator has proposed legislation requiring presidential candidates to release tax returns.
Despite the lack of legal requirement, for the last thirty years, almost all presidential and vice presidential candidates have released reams of their personal tax returns. Of 34 past presidential and vice presidential candidates, only seven — Brown, Buchanan, Huckabee, Forbes, Giuliani, Lugar, Nader — declined to release personal tax returns. Hillary Clinton has released her tax returns for years 2007 to 2014 showing that the Clintons paid more than $43 million in taxes over that period. For his part, Donald Trump has said that the tax rate he pays is “none of your business” and “I fight very hard to pay as little tax as possible.”
Are Presidential Candidates Legally Required to Reveal Any Financial Information?
Yes! Presidential candidates are legally required to file a “Personal Financial Disclosure” with the Federal Election Commission. But personal tax returns reveal different and important information, such as taxes paid and tax rate, deductions and credits claimed, charitable donations, debts claimed, offshore assets, and so on.
Trump has filed a legally required 104-page “Personal Financial Disclosure” with the Federal Election Commission. It contains general lists of investments in more than 550 different entities, and income from hundreds of different sources. However, unlike a tax return, this form does not show a person’s annual income and is not sworn to be accurate under penalty of perjury.
If It’s Not Legally Required Why Do Candidates Release Their Tax Returns Anyway?
Because it’s simply expected. Every major presidential candidate in the modern era has done so. Even Richard Nixon released his tax returns while he was being audited. Most voters believe they have a right to know how much a candidate pays in taxes, gives to charities, and claims in credits and deductions.
Are There Legal Reasons Why Donald Trump Hasn’t Released His Tax Returns?
In late March, Donald Trump released a letter from his tax attorneys and accountants attesting to the fact that all of his tax returns from 2009 forward are currently being audited by the IRS.
At a televised debate on February 25, 2016, Trump said, “I will absolutely give my return, but I’m being audited now for two or three [years’ worth] now so I can’t,” he continued. However, there is no legal restriction preventing auditees from releasing tax returns.
Billionaire Mark Cuban tweeted a suggestion that the reason Trump hadn’t releasing his tax returns was that Trump might be embarrassed that the Clintons actually “made more” money than him. Others speculate that the tax returns would reveal how little Trump has given to charity, in contrast to his “huge” claim that he donated more than $100 million to charity over the course of the campaign. Many also believe it’s because there are concerning ties between Trump and the Russian government, which his tax returns might reveal. The Washington Post collected all the facts known so far about Trump’s taxes, including that he apparently paid little or no federal taxes in several years. Mark Sanford, the Republican former governor of South Carolina, has urged Trump to release his tax returns.
What do you think? Should the law require that all presidential candidates release their tax returns? Does a candidate’s refusal to release tax returns affect your view of them?
No and no
No I do not believe they should give their tax returns for the public to see I think the public is being nosey especially the news media and the Democrats insisting that Trump do that and this idiot in California who wants to not put him on the ballot because of that that’s BS all they want to do is find out crap about Trump so they can bash him and Bash him and Bash him and try to make him look bad like they’ve done since day one of the election so no I think it’s a personal private thing I wouldn’t want to release my tax returns to anyone what the hell business is it of theirs
Not unless every politician, Judge and bureaucrat do the same. And especially people that donate to Black lives matter and antifa like George Soros.
Chances are if Barack Obama decided not to turn over his tax returns, the Left MSM would say nothing. I am absolutely sure if President Trump has done anything wrong ,we would have known about it long ago due to the fact he is constantly vetted, persecuted, and audited, and also because of the left, irresponsible constant media leaks and their “get Trump” mentality. Unless some law has been broken they can prove, it is his personal business.
Huh? People only want Trumps taxes so they could “bash him”? What does that even mean?
Funny, you don’t care that Trump publicly stated he would release his tax returns. I for one would like to know if a presidential candidate is accepting money from individuals or countries and would that money potentially impact future decisions if that person became president. That’s extremely important information to know.
I dont think Trump should have to show his tax returns, he is not making an income from his present position, he has never been in a federal goverment position all his money is made through private entities. The people who should be showing their taxes are all the government officials who have made millions and million of the backs of tax payers. They are supposed to be working for us and they just keep paying themselves more and more
And why is donald so afraid to reveal his taxes. Donald says he can’t because he is under audit. That’s bull shit and we all know it. It’s up to him not the IRS. donald is lying to us again and again. And all you sheep that follow don’t care that donald lies every day over and over
I totally agree with your comments . I don’t care about his or anyone’s tax returns . There is no law that says he has to . I only care about what the president will and can do for our country . Mr. President Trump has shown over and over again how he has helped our country . Why don’t people open their eyes . He cares about this country . If I wee treated the way he has been for his entire presidency I would have said I don’t need this treatment. He is a very strong man to have put up with all the crap he has had to endure. I have often wondered why he didn’t just say I do t need this treatment anymore . But he hasn’t because he is trying to help our country and I believe he is the only one that is qualified to do so . Biden is the worst possible person to save our country
I believe in the case of Presidents and Vice presidents, tax forms should be available to congress, at the minimum where a report underling potential conflicts of interest, and any potential financial crimes are given and that report is released to the public under the concept of an “informed public”. If the public release of the tax forms is ruled unconstitutional, this to me would be the compromise to make it constitutional. There is a greater need here than is posed to the individual, in the case of a president.
The President is unlike everyone else in one respect, he governs everyone–individuals do not. Therefore an exception must be made in the case of presidential candidates. I do not buy the slippery slope argument ( in fact, it’s one of the fallacies listed in the Carl Sagan Baloney Detection Kit ).
The way congress blasts everything, there’s no way they would keep his tax returns private. I say no.
My opinion is that all presidential candidates should have to release at least 5 years of tax returns and financial records (origonals?) To Congress, not necessarily to the public. Just to make sure they are not embezzeling or doing anything crooked or underhanded. But they do deserve their privacy from the public. I would look at congress moreso as their employer.
Presidents and VP’s are also citizens and have protections under the Constitution. No one is above the law, even those who claim to have reason to interfere in other people’s business. Democrats are not interested in his tax returns, they are only interested in Trump self-incriminating himself, which the Fifth Amendment protects him from such requests, and he and every other citizen have the privilege to say “no”. Rights can be defeated, privileges can not (Kowaluk, 2020). I think the real concern here is how little the Democrats care or know about citizen privileges or rights. Especially when they break laws regarding immigration.” inter alia.” (Among other things).
By that reasoning, thrm all members of Congress should be required to release their own!
My tax returns are no ones business nor yours or the presidents.
The so called “hush money” paid to Stormy Daniels is all the Dems are looking for. IMHO, it Trump is forced to release private information like tax returns, then so should all Congressional members.
I suspect this is nothing more than another attempt to oust the duly elected President and yet a continuance of the tiresome impeachment attempts made by the Democrats
There is absolutely no reason, President Trump should release his Tax Returns’. If he did, then guess what U.S. Citizens, the Government could then require you to release your Returns ! There is no way, our Tax Returnes are our private business !!
It is not a legal requirement by law, but out of all presidential candidates that years, I have not even thought about reading their tax return, have you? A financial disclosure is legal. It’s political.
No they have no legal rights to his tax returns. He filed the necessary tax disclosures he is required by law to file. None of your business what he does with his money he earned.
If a president has to show his tax return then the congress and senate should have to show their taxes to the public lets just see how honest they are
Let’s start obeying the US Constitution AND the law! Presidential candidates should release financial info to persons reviewing NOT the public AND financial info should be CLASSIFIED. question for readers: do YOU want YOUR financial info available for ALL persons to see??? I don’t think so; that’s how ID theft increases AND it’s NONE of your damn business! Research the person running, their ethics & past work; if you have more than a liberal pee brain to perform TRUTHFUL research, that will show facts!
I think he should release his tax returns because if he does voter turnout would and could increase. But also if he really has nothing to hide he should not be afraid to release his tax returns. Us people deserve to know what kind of a person we are electing to take the biggest position of this nation. There are no disadvantages of making it mandatory that he does.
Agreed. No and no. Does anyone really think illegal gains will be on tax returns? No one’s business. It might be interesting to see if incomes match up to the million dollar houses owned by so many Congress and Senate members though…
There is absolutely no reason, President Trump should release his Tax Returns’. If he did, then guess what U.S. Citizens, the Government could then require you to release your Returns ! There is no way, our Tax Returnes are our private business !!
SHOWING TAXES IS NONE OF ANYBODY’S BUSINESS–THE ACT OF DOING SO WAS A VOLUNTEER ACT BUT THEN LIKE OBAMACARE A VOLUNTEER ACT HAS GOTTEN TO THE POINT OF SHEAR HATE BY THE DEMOCRATS THEY WANT TO SEE BECAUSE THEY LIKE A LOT OF OTHER PEOPLE WANTED TO KNOW WHY HE RAN —UNLIKE THE GOVERNOR OF ILL WHO IS REPORTED TO HAVE MORE MONEY THAN TRUMP AND HE BEING A DEMOCRAT PEOPLE REALLY DON’T CARE –IF ONLY THERE WAS NOT SO MUCH HATE BE THE DEMOCRATS —IMPEACHMENT —SEX SCANDALS– RUSSIAN HOAX —WHICH ALL TURNED FALSE — THESE LAST 3 1/2 YEARS COULD HAVE BEEN MORE PRODUCTIVE AND LESS COMBATIVE
I think they should change the law going forward because our past presidents have made millions speaking at other country’s that they directly affected whether it be in aid, easy tariffs, or polictical/Government persuasion. Leta face it these life long politicians become very wealthy and most every American will say they do not trust the politician’s regardless of party. We also need to put a cap on what a president can make after he leaves office.
Lets make it law and we won’t need to have these discussions. If you dont want to be transparent please dont run!
Transparency Transparency Transparency. No, it will not affect my cote now till they make it mandatory.
Julian E. Zelizer, who appeared on CNN on Sunday, Jan 22, stated otherwise — which is what prompted me to Google whether indeed it is a legal requirement for now-President Trump to release his tax return. Prof. Zeilzer exclaimed “it’s the law” on the heels of comments made by other CNN panel members about the issue of Trump’s refusal (“broken promise”) to release his tax returns. While the media is busy roasting Trump’s press secretary for lying to the media about Inauguration attendance levels, the major broadcasters consistently allow people to sit on their panels who perpetuate information that is not properly fact checked because it is “off the cuff”. With the amount of punditry passing for “news”, it’s little surprise President Trump is so jaded about mainstream media. When you have Ivy League professors who go unchecked on national TV for spreading misinformation about what is and is not a legal requirement of a sitting president, there’s legitimate room for criticism of that media.
Exactly.
There s nothing factual about CNN s reporting ,yellow journalism at best.
It is NOT a law for presidents to reveal their tax returns,just a recent tradition.
Don’t think John F Kennedy ,when running for,President,revealed his returns.
There s a narrative and an approach coming from mainstream liberal media.
Present a narrative and then try to,find’’facts’to,support the narrative, even if the ‘’facts’’ aren’t factual.
In answer to your two questions…..NO and NO.
I am just an ordinary citizen … but I DO believe ANY candidate running for US President should be required to release taxes as a prerequisite to being accepted to run for office!! My point is … candidate Donald Trump was just an ordinary citizen PRIOR to being elected and THAT is when candidates should be REQUIRED by law to full disclosure of taxes!! If they have nothing to hide … there should be NO problem!! Even Nixon released his taxes while being audited … so why does Trump protest SO much? Actually … I believe ALL candidates running for ANY political office should be scrutinized for illegal activities prior to being accepted as a viable candidate!! What a novel idea for government officials; HONESTY!! WHY is that TOO much to ask for??
YES and YES
Let us see your TR
Lol. Exactly, Taz.
No the President should not but if he has to then we need to see Congress tax returns
Why? Do you give out your tax returns to the public? If not why not? President Trump is a Citizen of this Country. He did not loose his rights to become President.
Yes and yes
The reason I say YES to both questions is this…..if a candidate has some kind of financial ties to a country that is our enemy of some sort or had financial dealings with the mafia, etc., I would want to know and that would change my view of them.
All that is covered prior to taking office or a cabinet position.
PS: you should have made demands on the Clintons and Obama, you know, that one who gave billions of TAXPAYERS’ money to HIS FOREIGN pals.
I did!
EVERYONE —SOMEWHERE IN THEIR FAMILY HAS A CONNECTION TO SOMEONE ELSE WHO COULD BE CONSIDERED A BAD PERSON —MY FATHERS LEGAL GUARDIAN , AFTER HIS PARENTS DIED, WAS SAID TO BE IN THE CAPONE MOB BUT NOTHING WAS PROVEN —I WOULD IMAGINE THE THE CLINTONS AND OBAMAS HAVE MORE TIES TO RUSSIA THAN ANY OTHER POLITICIAN BECAUSE OF THE CLINTONS GETTING MONEY FROM THE RUSSIANS TO SPEAK IN RUSSIA AND OBAMA FOR HIS TALK WITH THEM SAYING THAT HE WOULD HAVE MORE LEEWAY AFTER THE ELECTION –TRUMP IS AN INTERNATIONAL BUSINESSMAN AND IT IS LIKELY THAT HE HAS TALKED TO A PERSON FROM ALL BUSINESS PEOPLE IN THE WORLD
I believe a President should release his tax returns to Congress, because everyday millions of hard working tax payers like myself are financially investigated before we are given an insurance quote – a job – a house – etc…etc…. Why should they be any different? Can’t I just get car insurance, a job, a house without you looking all in my credit report?
You actually believe someone engaged in criminal activity is going to put that on their tax returns? You probably also believe criminals will also register their guns.
For everyone who wants to see any politician’s tax return, I say to you let us see yours.
Your tax return is between you and the IRS (or Revenue Canada in Canada) and nobody else. If there’s a problem with your return, it will be audited.
People are being too nosy and think they’re entitled to whatever they want.
Congress should abide by the same rules on tax returns, not just the president . . . as they would have the same ability of some kind of financial ties to a country. Financial Disclosure would show more data than a tax return. There currently is no law that states a president must show their tax returns.
Once in office, members of Congress enjoy access to connections and information they can use to increase their wealth, in ways that are unparalleled in the private sector. And once politicians leave office, their connections allow them to profit even further. As far as foreign interests . . . over 43 percent of all members of Congress took lobbying jobs after leaving Congress, landing positions with an average annual salary of $2 million.
Members of Congress are subject to current insider trading laws. However, current insider trading laws do not apply to nonpublic information about current or upcoming congressional . . . because members of Congress aren’t technically obligated to keep that information confidential.
Congressmen can get away with the type of insider trading that would send Martha Stewart to prison. They go into hearings and confidential meetings with business interests, understanding new legislation is going to come out next week, and are free to trade on that information.
If you’re going to pass a bill that requires a POTUS to show his returns, Congress should be accountable to that same requirement.
I agree Congress should have to reveal their tax information. Also I have wondered why they want eight years of tax returns. Trump was not a public figure before 2015 at which time he filed the proper papers to run for presidentNancy
NO and YES. No because there is no legal requirement. YES because of simple honesty.
The man doesn’t take a salary. He is the first president who is actually trying to implement the agenda he ran on, and he is AN AMERICAN WHO HAS AMERICA’S BEST INTERESTS AT HEART. Hell, over half of the USA still doesn’t believe Obamacare a citizen, think he’s Muslim, &a Michelle is using some guy’s social security # from 1910 or so! Still want to discuss HONESTY?
(Haven’t gotten to the Clintons. Lol)
Simple fact is that the President of the United States answers to “The People”. If “The People” wishes to see his tax returns to ensure he is telling them the truth; i.e. being honest I think the President should be required to release the returns. With there being suspicious ties of multiple campaign officials to Russia and Turkey and with the money he is spending not only on vacations but on bombing countries too I think that it is only right to see if he has spent himself into debt and just ran for this job to spend more money that is not his. Trump’s tax returns will determine whether he is impeached or not and I think that has a lot to do with why he refuses to release them.
Impeached? You think that the tax returns that he is not legally bound to provide will end up impeaching him? That’s wishful thinking, Snowflake. You guys just cannot get over that a republican won. And won’t for the next 3.5 years. Will Hillary then be carried into the White House (skirting the law that makes Mike Pence President) by throngs of people who drank the democratic kool aid?
Exactly, Jennie.
Malarkey. Get your information in order.
Oh, and my comments to Saundra Buchanan in the “P. S.” Section are also for you.
You are aware that Trump has donated all of his salary since taking office to different government agencies, small business administration, and towards research for alcoholism?I think if he wanted to spend other people’s money that he has been a businessman long enough he would have found an easier, less public way. I also believe that if he had something on those returns that would jeopardize his presidency that the IRS, (you know, that federal agency whose sole purpose is to what…? That’s right, investigate people’s taxes) would have charged him long ago. Good news for the American taxpayers, since the majority (Democrat) of representatives from each state has spent the past 2 years on trying to destroy our President, and spent close to 38(?)million without success, we get 2 more years of the House doing nothing for it’s constituents because they’ll try to impeach and are more concerned about trying to justify blowing time, money, resources on something that can’t be proven while doing absolutely nothing for the American people. Time that could have been spent towards climate change, homelessness, education or finding ways to help our veterans.
I agree with @news2view, @allie, @isla, @JohnMCovich, @JoeSinagra, @jennie
You are aware that Trump has donated all of his salary since taking office to different government agencies, small business administration, and towards research for alcoholism?I think if he wanted to spend other people’s money that he has been a businessman long enough he would have found an easier, less public way. I also believe that if he had something on those returns that would jeopardize his presidency that the IRS, (you know, that federal agency whose sole purpose is to what…? That’s right, investigate people’s taxes) would have charged him long ago. Good news for the American taxpayers, since the majority (Democrat) of representatives from each state has spent the past 2 years on trying to destroy our President, and spent close to 38(?)million without success, we get 2 more years of the House doing nothing for it’s constituents because they’ll try to impeach and are more concerned about trying to justify blowing time, money, resources on something that can’t be proven while doing absolutely nothing for the American people. Time that could have been spent towards climate change, homelessness, education or finding ways to help our veterans.
I agree with @news2view, @allie, @isla, @JohnMCovich, @JoeSinagra, @jennie, @scorned
You said “we the people”…. not all the people think he should release his tax returns. So you think if “any” of the people want it he should give them????
Absolutely. And if I were running for President you bet your ass I would. It’s the right of the American public that the President be as transparent as possible so we can trust him or her. He’s a coward and clearly has something to hide.
Wrong. Financial Disclosures are required. Trump has submitted that. An individual’s tax information is his own. Period.
PS: the man isn’t taking a salary, for goodness sake!
For u donkeys,do u think JFK revealed his taxes,FDR?
What was Joe Kennedy hiding?
Kind of like immigration,we have rules and laws. if you don’t like the laws,vote to change them,not break the laws as cities did w Sanctuary city status but then demanding more federal funding…regressive hypocrites.
The president is NOT obligated by LAW to show his tax returns. Hillary WAS obligated to release 30,000 emails on her secret server. But was able to smash her cell phones and bleach-wash the memory cards?
There is no LAW requiring a President to release his tax returns. . . . . it’s none of our business. Lots of cool-aid going around.
No and No!!!!!
I can tell you’re a blind Trump supporter!
An individual’s tax information is his own. Period.
PS: the man isn’t taking a salary, for goodness sake! The president is NOT obligated by LAW to show his tax returns. Hillary WAS obligated to release 30,000 emails on her secret server. But was able to smash her cell phones and bleach-wash the memory cards?
Funny how States and Federal representatives are sponsoring bills to require tax return release, but no one has even brought up and pushed for the public release/proof of citizenship as part of the vetting process to hold any Government position that is required to be met, Constitutionally. At state and federal levels.
No and No. Tax returns are considered confidential. Although I have nothing to hide, I wouldn’t want mine to be reviewed, chewed on, critiqued and criticized by John Q. Public either. Primarily because they would find SOMETHING there, even though there is NOTHING there. That’s precisely what they would do to President Trump. The push for his tax returns is nothing but a witch hunt, anything they can do to try and get Trump out of office. If, somehow he is forced to release them, they will find Russian collusion (although it’s already been proven there wasn’t any) or ties to businesses in countries that are or could potentially be our enemies. There probably are ties to businesses, but those probably exist all over the world. The man is a businessman and a businessman conducts business with numerous entities in the daily course of operations. As far as Mafia connections as one lady commented – seriously? Do you really think something like that would be listed on ANYONE’S tax return. “Gave $10,000 to the New York Mob.” I’m sure there is none of that shady history in Trump’s returns anyway so that is a non-factor in asking for them. And who cares how much money he donated to charity? He is already donating his salary as President to different groups; in essence, working with no pay. So, my answer is not only no and no but and ADAMANT no and no. It’s nobody’s business.
I personally couldn’t care less. I doubt he paid any meaningful amount given the enormous amount of tax deductions available to him or anyone like him. I myself will use any available legal means to pay as little as I can. I also don’t care to know if he has given any money to charity. I personally would not give a cent to any charity organizations, I rather do my good deeds in person rather than through a middle man. As to connections to Russians, we already know he has done business in that country prior to being President. Revealing his tax returns at the time he took over the administration would not have revealed a “collusion” with that nation since his taxes would have covered times prior to becoming President. So, no, I don’t care to see his tax returns. I’d rather avoid hearing the tremendous gossip resulting from his doing so!!
Presidential candidates should have to show taxes. Citizens have the right to know where income is obtained. If candidate is beholden to anyone or any outside interests. It is a policy against any possible corruption
For presidents and vice presidents: Yes & Yes
No and No! We don’t have the right to see someone’s personal tax returns. If something is wrong, the IRS will catch it.
Releasing the tax return will show good faith and show the people u can be trusted. we need a person to work for us whether we support him or not only what you got to hide Trump is obviously doesn’t pay taxes, but claims to make America great Trump first!! Russian second. wake up America
Releasing the tax return will show good faith and show the people u can be trusted. we need a person to work for us whether we support him or not only what you got to hide Trump is obviously doesn’t pay taxes, but claims to make America great Trump first!! Russian second. wake up America support him like you did obama ha ha….u lie on and on.
There is no legal requirement for a nominee or a president to release their tax returns. My tax returns are my private business. If I feel that way, I have no right to impose another to release their return. If the tax returns have been accepted by the IRS, there is no reason for them to be questioned or held up for political scrutiny. The fact that others willingly released their tax returns is, here again, a unilateral decision on their part. In no way is it a precedent that compels any other person to release their tax returns.