Donald Trump Expected to File Federal Income Taxes This Month
Donald Trump has the opportunity to change the negative narrative on his taxes, that being to release his Y 2015 federal tax return.
Recall, that after the 1st Presidential debate with Hillary Clinton, he said his “current returns will be released as soon as they’re complete.”
Last year Donald Trump filed his taxes on 15 October after receiving a 6-month extension from the IRS. If he used an extension this year, he’s due to file his Y 2015 federal income taxes on 17 October.
Last Saturday the NY-T’s published a report that Mr. Trump could have legally avoided taxes for 18 years after declaring an almost $1-B loss in Y 1995.
If he were to release his Y 2015 return, it could work in his favor. He could file a “politically palatable” statement similarly to former GOP candidate Mitt Romney.
In Y 2012, Mr. Romney released his Y 2011 tax return in September, a move Donald Trump criticized as coming too close to the election. He chose not to deduct almost $2-M in charitable donations in order to pay an effective tax rate of 13%, which he promised he would.
Even if Donald Trump chooses not to take deductions as Mr. Romney did, he would still have the opportunity to amend his return long after the election is over, up to 3 years from the filing date.
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