Trump has long kept his tax returns secret. He says that might change now, after IRS deal
ABC News: Politics — 2026-05-20 16:19:00 — abcnews.com
Trump’s Tax Returns: A Long-Held Secret and New Promises
WASHINGTON — President Donald Trump has long kept his past tax returns shielded from public scrutiny, insisting that ongoing IRS audits necessitated this secrecy. However, he hinted this week that this could change following a legal deal with the Justice Department that includes dropping tax claims against him, his family, and associates. “I may even release my current returns,” Trump told reporters on Wednesday.
If Trump follows through on this suggestion, it could finally quell years of speculation regarding his financial obligations to the federal government. Yet, this is not the first time Trump has made such promises. Historically, he has repeatedly committed to releasing his tax returns, a practice that has become standard for U.S. presidents, only to backtrack on those commitments.
Legal Settlement and Its Implications
This week, the Justice Department announced that the government is “forever barred and precluded” from pursuing or prosecuting current tax examinations of Trump, his sons, and the Trump Organization. This settlement is part of a $10 billion lawsuit Trump filed against the IRS over a leak of his tax returns. However, the Justice Department clarified that the settlement pertains only to existing audits and does not prevent future examinations.
As part of the settlement, the Justice Department also announced the creation of a $1.776 billion fund aimed at compensating Trump allies who believe they have been unjustly investigated or prosecuted. Critics, including Democrats and government watchdogs, have labeled this arrangement as “corrupt” and unconstitutional.
Will Trump Release His Returns?
With the settlement effectively halting any ongoing examinations of Trump’s finances, the question remains: Will he actually release his tax returns? The White House directed inquiries to Trump’s comments when asked about the timeline for any potential release.
Trump has made numerous statements over the years regarding his tax returns. In May 2017, he suggested in an interview that he “might” release his tax returns after leaving office. During his first presidential campaign, he promised to release them once they were no longer under audit. However, in 2022, after Trump had left office, Democrats in Congress released thousands of pages of his tax returns for the years 2015-2020. These documents revealed how Trump utilized the tax code to minimize his tax obligations and provided insights into his foreign accounts, charitable contributions, and the performance of some of his most notable business ventures.
Contradictions and Misinformation
Trump’s history of contradictory statements regarding his tax returns raises skepticism about his latest promise. For instance, he has previously claimed that he would release his returns “once the audit is complete,” yet he has consistently maintained that audits were ongoing, even after leaving office. This pattern of behavior has led to widespread public distrust regarding his transparency.
Experts have noted that misinformation surrounding Trump’s tax situation has influenced public opinion, particularly among his supporters, who often cite his claims of being unfairly targeted by the IRS. This narrative has been bolstered by his recent legal maneuvers, which some view as an attempt to shield himself from scrutiny.
Conclusion
As Trump hints at a potential release of his tax returns, the public remains cautious, given his history of broken promises. The recent legal settlement with the Justice Department raises further questions about the integrity of the process and the motivations behind it. Whether Trump will ultimately follow through on his latest claim remains to be seen, but the implications of his financial dealings continue to resonate in the political landscape.
Source: https://abcnews.com/Politics/wireStory/trump-long-tax-returns-secret-change-now-after-133164983