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Trump ‘looking at’ releasing his tax returns … eventually

February 23, 2016

Donald J. Trump, the leader for the Republican presidential nomination, is happy to talk about how he pays the IRS as little as possible.

He's even taken to Twitter, his favorite social media platform, to do a little tax trash talking with some then White House wannabe competitors. During that exchange on the Oct. 15, 2015, extended filing deadline date, he shared a photo of himself signing his 2014 return.

Donald Trump signing his huge tax return October 15 2015_Twitter2

But The Donald is not quite ready to actually let us see at least some of what was on all those tax forms.

Media calling for DJT tax returns: The Wall Street Journal in a Feb. 19 opinion piece challenged Trump to back up his claims of presidential competence based on business and financial success by showing voters "the proof beyond the gilded staircases. He could enhance his credibility on the point by releasing his tax returns."

The following Sunday, George Stephanopoulos of ABC's "This Week" cited the WSJ editorial and asked Mr. Trump, "Will you release [your tax returns] by Super Tuesday? Don’t Republican voters have a right to know?"

Trump says he is — well, his people are — working on it. But any public release of his taxes won't happen before voters in 14 states (along with American Samoa voters and U.S. citizens abroad) go to the polls or caucuses on March 1.

"No, no, no, I won't," Trump told Stephanopoulos. "I'm working on it. We're working on, they're massive. You saw pictures of me."

Trump delivered essentially the same message on Monday, Feb. 22, when pressed on the matter by conservative radio host Hugh Hewitt.

Hewitt pointed out, per a radio show transcript reported by The New York Times' First Draft column, that the GOP's last presidential nominee Mitt Romney "got killed on this four years ago. And you’ve got to get them out there as well."

“Well, we'll get them out at some point, probably," Trump replied. "I mean, I’m looking at it. I told my people the other day, start looking at it."

Size, audit cited in delay: The main reason it's taking a while to release the returns, Trump added, is that his filings are, wait for it, "among the largest."

Plus there are audit issues.

"I'm audited all the time by government," Trump told Hewitt. "And I think every single year, I've had an audit for years. And you know, other people, friends of mine say they never get audited. I say congratulations. I have audits every year. So it's, you know, one of those things. But we are working. They're very complex papers, but we're working on it."

I give Trump that. Audits are a pain, so you want to make sure that anything you open up for inspection won't invite added Internal Revenue Service inquiry.

But I suspect it's not just Uncle Sam's — and New York City's and state's — tax examiners that worry Trump.

It's more likely concern about the image he's painted of himself and his money.

If his sworn tax filings show his income isn't as huge as he likes to tell us it is, that will hurt Trump's ego much more than any questions from a tax collector.

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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