Romney speculated that Trump’s personal tax documents might show that he is not as wealthy as he has claimed. On Thursday night, Romney needled Trump again by posting on Twitter: “No legit reason @realDonaldTrump can’t release returns while being audited, but if scared, release earlier returns no longer under audit.”
Trump, who has said he’s worth more than $10 billion, has responded by calling Romney a failed candidate and posting on Twitter: “Just for your info, tax returns have 0 to do w/ someone’s net worth.”
Bombshell Revelation
Olsen said that Trump’s revelation about 12 years of audits is something of a bombshell itself. “If the IRS examines your tax return and finds no issues they will not audit your return again for two years,” he said. “If returns are properly prepared, the IRS typically goes away.”
Pressure on Trump to release tax information may only build through the weekend as his two main rivals for the GOP nomination announced plans to release their own tax documents.
Senator Ted Cruz, who released some tax returns during his 2012 U.S. Senate race in Texas, said he’ll make more returns public as early as today. Senator Marco Rubio, who released some tax documents during his 2010 Senate race in Florida, said he’ll release additional information as well.
On the Democratic side, Hillary Clinton has released several years’ worth of returns, through 2014, when she and former President Bill Clinton reported adjusted gross income of $27.9 million.
Senator Bernie Sanders has released part of his 2014 return, on which he and his wife, Jane, reported $205,271 in adjusted gross income.