October 2, 2019 - Douglas Myser

Taxes and the 2020 election. The IRS could be forced to release President Trump's taxes in the heat of the 2020 election. The administration is betting that it can drag out the coming case beyond next year's elections. That could prove a bad strategy. President Trump's bet that it'll take years to resolve a coming court fight over his tax returns could be wrong. Federal courts are already ruling quickly against Trump in his other attempts to block Congress. The Supreme Court could also be a dead end if the case doesn't present new legal issues or divided appellate courts. That means there's a decent chance the White House could lose the fight and be forced to hand over Trump's tax records before the election.  "He's gambling," said Michael Stern, a former senior counsel in the House of Representatives, Office of General Counsel. "I don't think anyone would say it's impossible for there to be a final order for him to produce the tax returns by the middle of next year." Taxes and the 2020 election.

That could potentially be disastrous for Trump and other Republicans by focusing public attention on the long-running mystery of what's in his returns just as voters are heading to the polls--and would likely leave GOP wishing Trump had ripped off the tax return band aid sooner. It would also be ironic because Trump once criticized former Republican candidate Mitt Romney for releasing his own tax returns too close to the 2012 elections. The question comes as Trump has quickly lost a pair of court decisions dealing with other subpoenas issued by Democrats. A federal Court sided with the House Financial Services and Intelligence committees in their bid for Trump's financial records from Deutsche Bank and Capital One. That followed a ruling Monday by another court in favor of the House Oversight Committee, which is seeking Trump records held by an accounting firm. Taxes and the 2020 election. 

Trump is appealing that decision and plans to appeal a second one as well. When it comes to Trump's tax returns, the administration has an obvious incentive to try to run out the clock. Not only might Republicans retake the House in next year's elections, allowing them to quash a suit. Trump will also either be in his second term, when it will matter less, or he will have been voted out of office.

If the Trump Tax Cuts and Jobs Act had you owing more IRS taxes, not less, we can help. Federal Tax Resolution is a36 year old Tax Resolution Services firm, that is the Fourth oldest Tax Resolution Company in America. We can help you determine if you qualify for Tax Relief, like the IRS Fresh Start Program.