Bill Passed in the House Requiring Presidential Tax Audits

The House on Thursday passed a bill that would require annual audits of the president’s tax returns, codifying IRS policy after a congressional committee revealed that the agency did not audit former President Trump during two years he was in office.

The legislation, titled the Presidential Tax Filings and Audit Transparency Act, passed in a 222-201 vote. Five Republicans joined Democrats in supporting the measure: Reps. Adam Kinzinger (Ill.), Fred Upton (Mich.), Liz Cheney (Wyo.), John Katko (N.Y.) and Tom Rice (S.C.).

IRS policy requires that sitting presidents are audited every year — which has been the case since 1977 — but the terms are outlined in the agency’s regulatory manual, not federal law. The bill at hand would codify those terms into law.

Read the source article at thehill.com