world-economy

U.S. Drops Tax Claims Against Trump in IRS Settlement

The U.S. government will permanently abandon tax claims against President Trump, his sons and the Trump Organization under a settlement agreement finalized Tuesday. The accord resolves Trump's $10 billion lawsuit against the Internal Revenue Service regarding the disclosure of his tax returns. According to a Justice Department document, the government is "forever barred and precluded" from examining or prosecuting current tax matters involving Trump, his family members, affiliates and associated entities. Acting Attorney General Todd Blanche signed the one-page settlement addendum. This represents an extraordinary exercise of executive authority that shields the president from further financial and legal scrutiny. The White House declined comment, referring inquiries to the Justice Department. Treasury officials did not respond to requests for additional information regarding the agreement.