We propose that the President order the IRS to close any pending audit of the tax returns of any candidate who has received in excess of 5,000,000 votes in a primary election, along with the tax returns of any entities controlled by such candidates, subject to the following: If the tax return for any such person or entity, together with all supporting schedules, is released for public scrutiny within 30 days of such closure, the IRS commits not to reopen the audit or open an new audit of the same person or entity for the same tax year, except in the case of willful fraud. If a tax return is not released within 30 days, the audit may be reinstated.
The public interest in exposing the finances of such candidates to public scrutiny is far greater than the tax revenue that would be foregone.