Trump Drops $10 Billion IRS Suit for $1.8 Billion Fund and Tax Breaks
Updated
Updated · The New York Times · May 30
Trump Drops $10 Billion IRS Suit for $1.8 Billion Fund and Tax Breaks
3 articles · Updated · The New York Times · May 30
$1.8 billion will be set aside under a deal that ends Trump’s $10 billion lawsuit against the IRS and grants tax benefits to Trump, his family and his businesses.
The settlement emerged as a federal judge pressed the Justice Department to explain how it could independently defend the IRS against the president who controls the executive branch.
Todd Blanche’s Justice Department negotiated with Trump’s private lawyers in closely held talks led in part by Boris Epshteyn, with some senior White House officials learning of the agreement only near completion.
The deal stops short of paying Trump directly from the Treasury, but it could aid people deemed victims of government “weaponization” — potentially including hundreds charged in the Jan. 6 Capitol attack — while also freeing Trump businesses from costly IRS audits.
Can a legal settlement grant a president and his family permanent immunity from future tax audits?