EXPLAINER: What’s the debate over releasing Trump’s taxes?

WASHINGTON — The Democratic-controlled House Ways and Means Committee on Tuesday voted to release former President Donald Trump’s tax returns, raising the potential of additional revelations in the coming days related to the finances of the longtime businessman who broke political norms by refusing to voluntarily make public his returns as he sought the presidency.

Reports released by the committee, as well as Congress’ nonpartisan Joint Committee on Taxation, give a glimpse into Trump’s financial position before and during his presidency. Access to the tax records culminates of a yearslong legal fight that has played out everywhere from the campaign trail to the halls of Congress and the Supreme Court.

A look at the issues that have arisen from the controversy surrounding Trump’s taxes:

WHY ARE THESE ISSUES COMING UP?

Since Richard Nixon — following media reports suggesting the then-president had taken questionable, large deductions on his individual tax returns — U.S. presidents and all major party nominees have voluntarily made at least summaries of their tax information available to the public.

Trump bucked that trend as a candidate, and then as president, repeatedly asserting that his taxes were “under audit” and therefore could not be released.

According to the reports released this week, an audit of Trump’s 2016 taxes was not begun until April 3, 2019, more than two years into Trump’s presidency. That date coincides with when Democratic Rep. Richard Neal of Massachusetts, chairman of the House Ways and Means Committee, asked the IRS for information related to Trump’s tax returns.

The New York Times found that before Trump entered the White House, he was facing an IRS audit potentially tied to a $72.9 million tax refund arising from $700 million in losses he claimed in 2009. Documents released Tuesday indicate that Trump continued to collect tax benefits from those losses through 2018.

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DON’T PRESIDENTS REGULARLY GET AUDITED ANYWAY?

They are supposed to. The IRS has an internal policy that mandates audits of presidents and vice presidents. Representatives for President Joe Biden and former President Barack Obama confirmed that each was audited for every year in office.

But in their report, committee Democrats said the audit process, which dates to 1977, was “dormant, at best” during the early years of the Trump administration.

Shortly after the committee voted to issue its report and make…