Your Taxes: Trump’s tax amnesty raises questions for Israeli taxpayers

A recent settlement agreement between President Donald Trump, his family, and the Trump Organization with the U.S. Internal Revenue Service (IRS) has resulted in a broad amnesty for the Trumps and the establishment of an Anti-Weaponization Fund of approximately $1.8 billion. The settlement, finalized on May 18 in the Southern District Court of Florida, followed a civil lawsuit initiated by the Trumps on January 29 after a former IRS contractor allegedly leaked their tax returns.

The Trumps characterized the leak as "lawfare" and "weaponization" by political opponents, citing the "sustained use of the levers of government power" for improper reasons. U.S. Acting Attorney General Todd Blanche issued an order on May 19, as required by the settlement, which appears to release, waive, acquit, and forever discharge the plaintiffs from any claims that have been or could have been asserted related to "Lawfare or Weaponization" or any pending matters before the IRS or other agencies.

While the settlement seems to provide a wide-ranging amnesty for past U.S. tax and other issues, it is unclear if it covers tax evasion. The Anti-Weaponization Fund has drawn criticism for seemingly being funded by U.S. taxpayers, though the Trumps are reportedly not expected to benefit economically from it. Meanwhile, Israel is currently offering its own tax amnesty, a voluntary disclosure procedure available until August 31, initiated to help finance its war efforts.

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The United States RELEASES, WAIVES, ACQUITS and FOREVER DISCHARGES each of the Plaintiffs [the Trumps] and is hereby FOREVER BARRED and PRECLUDED from prosecuting or pursuing any and all claims… that have been or could have been asserted… against any of the Plaintiffs… or parties including trusts, parent, sister or related companies… which arise out of… Lawfare or Weaponization…or any matters currently pending or could be pending (including tax returns)… before Defendants [the IRS] or other agencies or departments.