President Trump, members of his family and his businesses will be shielded from all pending tax audits as part of a provision in a settlement reached with the Department of Justice.
Acting Attorney General Todd Blanche signed the provision on Tuesday, though the $1.7 billion Anti-Weaponization Fund, which has faced criticism from several Republicans in Congress, was inked Monday.
The provision states that the Internal Revenue Service would be “FOREVER BARRED and PRECLUDED from prosecuting or pursuing” ongoing tax claims against the first family and its businesses.
The settlement will allow “victims of lawfare” — including former First Son Hunter Biden — to receive cash payouts.
The provision only covers “existing audits, not future,” a DOJ official noted.
“As is customary in settlements, both sides have executed waivers of a variety of claims that were or could have been brought,” the official said.
“There would be little point in settling several significant claims if either party could simply turn around and seek to initiate more adverse claims that could have been pursued previously.”
As part of the settlement, Trump and his sons Don Jr. and Eric will not receive monetary compensation but will receive a formal apology from the federal government.
The Trumps will in return withdraw claims related to the FBI’s probe of Russian collusion with the Republican’s 2016 campaign, in addition to the bureau’s execution of a search warrant at Mar-a-Lago in August 2022.
Trump and his sons Don Jr. and Eric sued the IRS for $10 billion in January for illegally leaking tax returns from the Trump Organization.
The lawsuit came almost three years after ex-IRS contractor Charles “Chaz” Littlejohn pleaded guilty to sharing the returns — as well as filings of other wealthy individuals — with the New York Times and ProPublica.
Acting Attorney General Todd Blanche acknowledged Tuesday that the agreement was was “unusual” but “not unprecedented.”
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Five commissioners, appointed by Blanche, will determine how to dole out the taxpayer funds to victims of “lawfare” and politicized prosecutions, which Trump officials suggested had occurred mostly during the Biden administration.
Though several also noted that Hunter Biden, former President Joe Biden’s son, would be eligible.
It’s unclear whether the president will have any say over appointing commissioners to oversee the fund.
