IRS Unable to Complete Trump Audit
Two Years of Biden’s Tax Returns were Audited since he took office but Trump’s still ongoing
Trump’s tax returns from 2015 through 2019 remain under audit and some years before that remain unresolved. Some of those audits began roughly two years after the tax returns were due, and an audit of his taxes for 2020 hasn’t yet started. Democrats have called for making presidential audits mandatory and imposing new deadlines on the IRS. The House passed a bill proposed by Rep. Richard Neal (D., Mass.) that would mandate presidential audits and periodic public status reports, but it isn’t expected to pass the Senate.
There is no good reason for auditing Trump’s tax returns for such an extended period. The normal audit statute of limitation is three years from the date of filing. This period can be extended to 6 for gross underreporting of income or over reporting of expenses, There is no statute of limitation on fraud. Knowing this we can only suspect that the IRS is searching for signs of fraud for 2015 which would have been filed in 2016 and thereby passed the extended statute of limitation of six years.