Rolling tax audits

When President Trump has repeatedly said that he cannot show his tax returns as he is under audit, the press miss the very obvious question… “Which years are being audited by the IRS? Okay, let’s see the others.”

On another point, why they didn’t ask that, or even challenge Mr. Trump during the primary when he repeatedly claimed that he was 100% self funded, but had a “Donate Here” button on his website and his FEC reports showed public donations is beyond my understanding.

Perhaps they thought that he was political entertainment, so the public would be engaged and force the other candidates to spend more money on advertising. Advertising is really what the press is interested in. After all, if a newspaper can’t support its infrastructure it will go out of business and from its point of view, freedom of the press won’t matter.

For high value tax returns, the IRS does rolling tax audits. I have no doubt that Mr. Trump is audited every year so the IRS can potentially make a lot of money in back taxes, interest and penalties.

But eventually when those older returns are finished with, Mr. Trump gets a letter saying that the IRS is done and the audit for that year is over.

It is inconceivable that the IRS continues to audit every year this century so I think that,  with the exception one or two years (perhaps 2013/14) the audits are finished. That means 2015 hasn’t been looked at yet.

Even in my instance, I get letters from the State of Georgia asking for about lost payments they lost dating back to 2011/12 payable to the state. That’s how far behind Georgia is; the IRS isn’t that much better.

Mr. Trump continues to refuse to release his returns and the press, in its infinite lack of wisdom fails to press him on his audit claims.

Why?