One Step Closer to President Trump’s Tax Return
July 26, 2018, 12:36 p.m.
A little-known lawsuit against President Trump may unlock the tax return mystery.
Yesterday, a court ruling by a federal judge in the District of Columbia may open the door to obtaining Trump’s tax returns.
Going back to his campaign, Trump promised he would release his tax returns after the IRS audit was complete, prompting Warren Buffett to post his taxes online and say he was also under audit at the time.
The fact is, there is no law that prevents Trump from releasing his tax returns with an audit pending, and there is no law that requires him to release it either.
Shortly after winning his bid for president, it was made clear at least once by Kellyanne Conway, that Trump was not going to release his tax returns. The obvious question is why not, but that is as obvious as the answer.
The Emoluments Clause is one of those terms you only hear in law school and realistically, most lawyers don’t know about it either.
“No Person holding any Office of Profit or Trust under them [the United States], shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.”
To oversimplify, the Emoluments Clause prevents federal officials from receiving benefits from either foreign or state governments, unless approved first by Congress. From the beginning, legal experts warned that having Trump as president would present an endless amount of conflicts of interest due to his business dealings.
In his ruling, U.S. District Judge Peter J. Messitte found that the Trump is subject to the Emoluments Clause and that extends to any ‘profit,’ ‘gain,’ or ‘advantage.'” Trump is facing three lawsuits in total dealing with the Emoluments Clause.
Why is this case important and what does this have to do with Trump’s hotels? Because it allows for financial records to be sought, which includes President Trump’s tax returns which have been more elusive than Bigfoot and the Loch Ness Monster. Although, in my opinion, Special Counsel Robert Mueller already has Trump’s tax returns.
Alexander Hernandez, Esq.
Find me on Twitter- @mcatty_alex
This post has been updated.
Alexander Hernandez represents clients in the areas of Chapter 7 Bankruptcy, Family Law/Divorce, and car and motorcycle accidents.
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