And also prohibits releasing them… So, not exactly what you think this would accomplish other than requiring reporting from the president…
(g) Disclosure to President and certain other
persons
(1) In general
Upon written request by the President,
signed by him personally, the Secretary shall
furnish to the President, or to such employee
or employees of the White House Office as the
President may designate by name in such request,
a return or return information with respect
to any taxpayer named in such request.
Any such request shall state—
(A) the name and address of the taxpayer
whose return or return information is to be
disclosed,
(B) the kind of return or return information
which is to be disclosed,
(C) the taxable period or periods covered
by such return or return information, and
(D) the specific reason why the inspection
or disclosure is requested.
(2) Disclosure of return information as to Presidential
appointees and certain other Federal
Government appointees
The Secretary may disclose to a duly authorized
representative of the Executive Office
of the President or to the head of any Federal
agency, upon written request by the President
or head of such agency, or to the Federal Bureau
of Investigation on behalf of and upon
written request by the President or such head,
return information with respect to an individual
who is designated as being under consideration
for appointment to a position in the executive
or judicial branch of the Federal Government.
Such return information shall be
limited to whether such individual—
(A) has filed returns with respect to the
taxes imposed under chapter 1 for not more
than the immediately preceding 3 years;
(B) has failed to pay any tax within 10 days
after notice and demand, or has been assessed
any penalty under this title for negligence,
in the current year or immediately
preceding 3 years;
(C) has been or is under investigation for
possible criminal offenses under the internal
revenue laws and the results of any such investigation;
or
(D) has been assessed any civil penalty
under this title for fraud.
Within 3 days of the receipt of any request for
any return information with respect to any individual
under this paragraph, the Secretary
shall notify such individual in writing that
such information has been requested under the
provisions of this paragraph
**(3) Restriction on disclosure**
The employees to whom returns and return
information are disclosed under this subsection
shall not disclose such returns and return
information to any other person except
the President or the head of such agency without
the personal written direction of the
President or the head of such agency.
(4) Restriction on disclosure to certain employees
Disclosure of returns and return information
under this subsection shall not be made to any
employee whose annual rate of basic pay is
less than the annual rate of basic pay specified
for positions subject to section 5316 of title 5,
United States Code.
(5) Reporting requirements
Within 30 days after the close of each calendar
quarter, the President and the head of
any agency requesting returns and return information
under this subsection shall each file
a report with the Joint Committee on Taxation
setting forth the taxpayers with respect
to whom such requests were made during such
quarter under this subsection, the returns or
return information involved, and the reasons
for such requests. The President shall not be
required to report on any request for returns
and return information pertaining to an individual
who was an officer or employee of the
executive branch of the Federal Government
at the time such request was made. Reports
filed pursuant to this paragraph shall not be
disclosed unless the Joint Committee on Taxation
determines that disclosure thereof (including
identifying details) would be in the national
interest. Such reports shall be maintained
by the Joint Committee on Taxation
for a period not exceeding 2 years unless, within
such period, the Joint Committee on Taxation
determines that a disclosure to the Congress
is necessary.
Is there some earth shattering revelation you think they might find?
