Trump Tax Audit

According to tax pro today regarding the Trump tax audit, the tax attorneys representing Donald Trump have stated that 2002-2008 are now “closed out” and the years 2009 through most recent year are still under examination. We are not sure what this means as the standard rule for an audit is 3 years back unless there is something criminal, and that certainly isn’t the case here for  Trump. He has well over 500 separate partnerships and business interests, so this isn’t the standard 1040 with schedule A and B. Here is a copy of link from Accounting today at http://www.accountingtoday.com/news/tax-practice/trump-tax-lawyers-say-2002-2008-returns-no-longer-under-audit-77657-1.html?

 

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