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Donald Trump has set a record as the only Presidential candidate since 1976 who will not disclose his tax returns. Trump is presently being audited by the Internal Revenue Service. He has announced that he will not release any tax return, until the completion of his audit. Apart from his statement, his campaign office has made it clear that, despite his status of the audit, Trump will not release any returns before November.

His lawyers said that the I.R.S. examinations of his taxes over the time produced no net deficiency. Trump is free to release his returns if he wants to.

Trump has chosen not to show his tax returns because of certain risks associated with disclosure. The risk of disclosure is more political than legal.

Trump’s returns may reveal that he pays a low effective tax rate. It may also show that he gives little to charity, and reveal some foreign financial entanglements.

Trump is aware that if he discloses his returns, there will be hundreds of tax professionals in the country ready to start witch hunting. Also, a public discussion of the returns may make the IRS look into issues they may not have noticed ordinarily.

Trump has openly said that he seeks to pay as little tax as he can under the law.

According to Judge Learned Hand(1934),

“Every citizen is allowed to arrange his affairs in such a way that his taxes would be low. No one is bound to choose the particular pattern that will best favor the American Treasury; there exist no patriotic duty to increase any individual’s taxes.”

Although the law does not require it, politics demands it. By refusing to disclose his tax returns, the Presidential candidate, Donald Trump has defied the long-standing Presidential electoral tradition. And if he continues to hold back, it would become apparent that he is doing so by choice not by obligation.