Grim forecasts held up for a few states, but many took in about as much tax revenue as before the pandemic ? sometimes a lot more.
For all that they reveal, tax returns have limitations. Other records from the former president’s accountants may help give a fuller picture of his finances.
Whether or not Trump is convicted at his impeachment trial, he faces an IRS decision on a massive refund and may no longer be able to conceal his tax returns.
The proximate cause of the shift was President Trump’s 2017 tax cut, which dramatically slashed taxes on corporate profits and estates, researchers say.