NEW YORK, Ny. – Republican presidential candidate and former reality TV star Donald J. Trump could release his federal income tax returns from 1968 as early as next week, a source within the Trump campaign confirmed to The New York Times on Monday.
“Unlike his opponent, Trump means to be as forthcoming and transparent as possible in regards to his financial history,” the source told The Times. Trump is currently being audited by the Internal Revenue Service and has said he will not release his tax returns until the audit is complete. “It is for this reason that Donald Trump has instead elected to release his returns from 1968,” the source said before adding that Trump believes the forty-eight year-old tax documents will adequately reflect those of the average American taxpayer.
Trump, who graduated from the Wharton School of Finance and Commerce at the University of Pennsylvania in May of 1968, was, by that time, already working in real estate at his father’s company. Public records show that when Trump inherited his father’s business just six years later in 1974, he was worth about $40 million. However, in 1968, the twenty-two year-old Trump was just an average run-of-the-mill entrepreneur with a net worth of $200,000.
“This is the Donald Trump that voters are going to hear about when [these] returns are finally made public,” Katrina Pierson, Trump’s campaign spokesperson, told CNN’s Victor Blackwell last week. “This is a man who came from nothing; he achieved the American dream and, like a phoenix, he rose from the ashes of poverty and really made a name for himself.”
Trump’s vice presidential running mate Mike Pence announced during a recent appearance on Meet the Press that he, too, intends to release his income tax returns. “I’ll release mine next week,” he told Chuck Todd on Saturday. Meanwhile, Trump’s opponent, Democratic presidential nominee Hillary Rodham Clinton, who made $10.6 million in 2015 – and nearly $28 million the year before – paid just $3.24 million in federal income taxes last year.