Kara Sears
There is no law requiring presidents to publish their tax returns, but federal law IRS Code section 6103(f) authorizes Congress to view anyone's tax returns in a closed session. Since the 1970s, most presidents have released their tax returns publicly, despite being subject to annual IRS audits. However, Donald Trump refused to release his tax returns, sparking controversy and legal disputes. The lack of legal obligation has prompted calls for legislation mandating presidential tax transparency.
| Characteristics | Values |
|---|---|
| Is there a law requiring presidents to turn over tax returns? | No federal law requires presidents to publicly release their tax returns. However, there is a federal tax law that states that if the chairman of the House Ways and Means Committee makes a written request for an individual's tax returns, the Treasury secretary "shall furnish" those returns. |
| Is there a precedent for presidents turning over tax returns? | Yes, it has been a custom for presidential candidates to release their tax returns for more than 30 years. Every major party nominee since 1976 has released complete tax returns, except for Donald Trump. |
| Can Congress request tax returns? | Yes, Congress can request tax returns. In 2019, the U.S. House Oversight Committee subpoenaed Mazars for tax records related to an investigation into Trump's conduct. |
| Can states require the release of tax returns? | Yes, in 2019, California temporarily enacted legislation requiring presidential candidates to release tax returns to be on the primary election ballot. New York State passed a similar law allowing the release of state tax returns to congressional committees for valid purposes. |
| Can tax returns be released confidentially? | Yes, federal law authorizes Congress to view anyone's tax returns during a "closed executive session." However, the taxpayer can refuse to have their identifying information shared outside of that session. |
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What You'll Learn
- There is no law requiring presidents to publish their tax returns
- Congress can request presidential records without violating separation of powers
- Presidential candidates should release financial info to persons reviewing
- The IRS statute states that returns would be viewed confidentially
- The Presidential Audit and Tax Transparency Act would require sitting presidents to release their tax returns
There is no law requiring presidents to publish their tax returns
While there is a long-standing tradition of presidential candidates and presidents releasing their tax returns to the public, there is no federal law that requires them to do so. However, there is a federal tax law that states that if the chairman of the House Ways and Means Committee makes a written request for an individual's tax returns, the Treasury secretary "shall furnish" those returns. These returns would be reviewed confidentially in a closed executive session, and the taxpayer can refuse for their identifying information to be shared outside of that session.
In 2019, California temporarily enacted legislation to require presidential candidates to release tax returns to be eligible for the primary election ballot, and New York State passed a law allowing the release of state tax returns to congressional committees for valid purposes.
In April 2023, Senate Finance Committee Chairman Ron Wyden reintroduced the Presidential Audit and Tax Transparency Act, which would require sitting presidents and major party presidential nominees to release their tax returns to the public. The bill would also mandate an annual audit of the sitting president's tax returns, with the results released publicly. This legislation aims to address concerns about the lack of transparency and potential conflicts of interest by requiring candidates and presidents to disclose their tax returns.
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Congress can request presidential records without violating separation of powers
While there is no law that requires presidential candidates or presidents to publicly release their tax returns, it has been a custom for them to do so for over 30 years. However, in 2019, the US House Oversight Committee subpoenaed Mazars for tax and other records related to an investigation into then-President Trump's conduct. This case made its way to the Supreme Court, which ruled that Congress can request presidential records without violating the separation of powers.
The Supreme Court's decision outlined the circumstances under which Congress can request presidential records without violating the separation of powers. The Court held that "Article II and the supremacy clause of the Constitution do not categorically preclude, or require a heightened standard for, the issuance of a state criminal subpoena to a sitting president." Chief Justice John G. Roberts, Jr. wrote that "no citizen, not even the president, is categorically above the common duty to produce evidence when called upon in a criminal proceeding."
This ruling rejected former President Trump's claim of absolute immunity from the New York grand jury criminal subpoenas. However, the Court allowed Trump to return to the lower court to argue for withholding his returns based on scope or relevance. Despite this, Judge Marrero rejected Trump's argument and ordered that his tax returns be turned over to prosecutors.
It is important to note that the Presidential Records Act (PRA) of 1978 governs the official records of presidents and vice presidents. The PRA changed the legal ownership of these records from private to public and established a new statutory structure for their management. The PRA allows incumbent presidents to dispose of records that no longer have administrative, historical, informational, or evidentiary value and grants them exclusive responsibility for the custody and management of their presidential records while in office. However, once the president leaves office, the Archivist takes custody of these records, and they become eligible for access under the Freedom of Information Act (FOIA) after five years.
In summary, while there is no law requiring the public release of tax returns by presidents or presidential candidates, Congress can request presidential records, including tax returns, without violating the separation of powers. The Supreme Court's decision in the case involving President Trump's tax returns set a precedent for such requests, and the PRA outlines the procedures for obtaining access to presidential records.
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Presidential candidates should release financial info to persons reviewing
While there is no law that compels presidential candidates or presidents to publicly release their tax returns, it has been a custom for them to do so for more than 30 years. Every major party candidate for president since 1980 has released tax returns during their campaign. However, in 2016, Donald Trump became the first major party presidential nominee since 1976 to not release any tax returns, citing that he was under audit.
In 2019, the House Oversight Committee subpoenaed Mazars for tax and other records related to an investigation into Trump's conduct, and California temporarily enacted legislation to require presidential candidates to release tax returns to be included on the primary election ballot.
In 2023, Senate Finance Committee Chairman Ron Wyden reintroduced the Presidential Audit and Tax Transparency Act, legislation that would require sitting presidents and the presidential nominees of major parties to release their tax returns to the public. The bill would also mandate an annual audit of the sitting president's tax returns, which had been IRS policy since 1977 but was not followed during Trump's first two years in office.
Some people argue that presidential candidates should release their financial information to persons reviewing their applications, not to the public, to prevent identity theft and protect their privacy. Others argue that releasing tax returns is necessary for transparency and to prevent potential conflicts of interest or blackmail.
Overall, while there is currently no legal requirement for presidential candidates to release their tax returns, there is a long-standing tradition and public expectation for them to do so, and legislation has been proposed to make it a requirement.
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The IRS statute states that returns would be viewed confidentially
While there is no law requiring US presidents to publish their tax returns, federal law does allow Congress to request and view anyone's tax returns. This is permitted under IRS Code section 6103(f) when sitting in a closed executive session. The taxpayer may refuse for their identifying information to be shared outside of this session.
In 2019, Rep. Richard Neal, chairman of the House Ways and Means Committee, requested Trump's tax returns for the years 2013 through 2018. The IRS statute states that if the returns were provided, they would be viewed confidentially in a closed executive session of the Ways and Means Committee. However, legal scholars have argued that depending on the findings, the committee may have a constitutional responsibility to release the returns publicly.
The law states that the Treasury Secretary "shall furnish" the tax returns upon written request from the chairman of the Committee on Ways and Means of the House of Representatives, the chairman of the Committee on Finance of the Senate, or the chairman of the Joint Committee on Taxation. However, any information that can be associated with or identify a particular taxpayer shall only be furnished when sitting in a closed executive session unless the taxpayer consents in writing to such disclosure.
Despite there being no legal requirement, it has been a custom for presidential candidates and presidents to release their tax returns publicly for more than 30 years. Every major party nominee since 1976 has released their complete tax returns, except for Donald Trump. Trump refused to release his tax returns during his 2016 presidential campaign, breaking a decades-long tradition.
In summary, while there is no law mandating the release of tax returns by the president, federal law does allow Congress to request and confidentially view tax returns under specific conditions. The decision to publicly release the returns depends on the findings and any constitutional obligations.
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The Presidential Audit and Tax Transparency Act would require sitting presidents to release their tax returns
While there is no law requiring presidents to publish their tax returns, federal law IRS Code section 6103(f) authorises Congress to look at anyone's tax returns "when sitting in closed executive session". However, the taxpayer can refuse to have their identifying information shared outside of that session.
Since the 1970s, most presidents have released their tax returns to the public, despite the fact that presidents and vice presidents are automatically subject to annual IRS audits. This tradition was broken by Donald Trump in 2016, who refused to release his tax returns during his presidential campaign.
The Presidential Audit and Tax Transparency Act, reintroduced in 2023 by Senate Finance Committee Chairman Ron Wyden, is a piece of legislation that would require sitting presidents and major party presidential nominees to release their tax returns to the public. The bill would also mandate an annual audit of the sitting president's tax returns, with the results released publicly. This audit has been IRS policy since 1977, but a House Ways and Means Committee investigation found that the audits did not occur for two years after Trump took office. The bill is co-sponsored by several senators, including Bernie Sanders and Elizabeth Warren.
The Presidential Tax Filings and Audit Transparency Act, which Congressman Steve Cohen voted for in 2022, is another piece of legislation that would require the IRS to conduct an annual, publicly disclosed audit of the president's finances. This includes the tax returns of any entities controlled by the president, which must be publicly disclosed within 90 days of filing.
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Frequently asked questions
No, there is no law that compels presidential candidates or presidents to publicly release their tax returns. However, federal law IRS Code section 6103(f) authorizes Congress to look at anyone's tax returns in a closed executive session.
Yes, most sitting presidents since Jimmy Carter have released their tax returns, despite the fact that presidents are automatically subject to an annual IRS audit.
Tax returns would give exact figures for income and business losses, and what taxes were paid, and could expose conflicts of interest.
Some people believe that presidential tax secrecy is legal and that it is the president's personal business.
