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PBS News Hour - Segments

DOJ's tax settlement with Trump sets 'dangerous precedent,' former IRS commissioner says

PBS News Hour - Segments

PBS NewsHour

News, Daily News

4.11K Ratings

🗓️ 20 May 2026

⏱️ 8 minutes

🧾️ Download transcript

Summary

The Trump administration permanently banned the IRS from auditing the president's tax returns, and those of his sons, his company or any affiliated trust. That move was announced a day after the creation of a $1.8 billion fund to compensate allies of Trump who claim they were mistreated by the Biden Justice Department. Geoff Bennett discussed more with former IRS Commissioner John Koskinen. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy

Transcript

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0:00.0

In the span of 48 hours, the U.S. government acting on orders from the Trump Justice Department

0:05.5

did something no administration in American history has ever done before.

0:10.3

It created a nearly $1.8 billion fund, drawn from taxpayer money designed to compensate allies of the president

0:17.8

who claim they were mistreated by the Biden Justice Department.

0:21.3

Then the administration permanently banned the IRS from ever examining President Trump's

0:26.5

prior tax returns, or those of his sons, his company, or any affiliated trust.

0:32.3

That move was quietly announced a day later, tucked into a DOJ press release.

0:37.8

And there is a third development.

0:39.9

New federal ethics disclosures reveal more than 3,700 stock trades made under President

0:45.4

Trump's name.

0:46.6

And companies like META, Amazon, and Disney, among others, worth up to around $750 million

0:52.8

in just the first three months of this year.

0:56.1

That's on top of crypto ventures tied to the Trump family

0:59.4

that have reportedly made more than $1 billion in profits so far.

1:04.0

We're going to focus now squarely on that IRS settlement

1:06.9

with former IRS Commissioner John Koskinan,

1:10.0

who ran the agency in the Obama and

1:12.1

First Trump administrations. Thank you for being with us.

1:15.7

Happy to be here.

1:17.1

So let's back up a bit, and we should say that this original grievance stemmed from a leak.

1:23.4

An IRS contractor stole President Trump's tax returns during his first term, leaked them to

1:28.7

reporters. That contractor was caught. He went to prison for it. Given that he was caught and

...

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