Todd Blanche, in negotiations with Republican senators, has formally rescinded a $1.8 billion fund meant to compensate President Donald Trump’s political allies. However, a sweeping audit immunity plan conferred on the president, his sons, and the Trump Organization remains in place.
Audit Immunity Details
The audit immunity, struck as part of a deal to resolve the president’s $10 billion lawsuit against the IRS, would not protect the president from the examination of future tax filings. Instead, it applies retroactively to claims open at the time of the lawsuit’s settlement.
Lawmakers and legal experts have questioned the lawfulness of such protections, with some arguing that the immunity agreement could violate an IRS statute barring executive branch interference in taxpayer audits and investigations.
Concerns and Reactions
Some legal and tax experts say the immunity agreement could wipe away millions of dollars of Trump’s back taxes. The deal has spurred bipartisan outrage and tested confidence in the fairness of the tax system.
Representatives from the White House, IRS, Treasury, and Trump’s personal attorneys did not immediately respond to requests for comment.
Original reporting: KTBS 3 (Shreveport) — read the source article.
