For years, Donald Trump sat at the centre of one of the most consequential tax disputes in American political history. A years-long audit battle tied to his troubled Chicago skyscraper had put the president in line for a tax bill that could exceed $100 million (£79 million) — a figure that stemmed from an accounting manoeuvre investigators concluded amounted to claiming the same massive write-off twice.
That audit is now, by order of his own Justice Department, finished. On 19 May 2026, the DOJ issued an addendum to a broader settlement agreement, signed by acting Attorney General Todd Blanche, declaring that the IRS is 'forever barred and precluded' from pursuing any examination or review of tax returns filed by Trump, his family, and affiliated businesses.
