Donald Trump Refuses to Reveal His Tax Returns

The Republican presumptive nominee reveals he may reveal them after the election because he is currently being audited.
2:30 | 05/11/16

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Transcript for Donald Trump Refuses to Reveal His Tax Returns
Now, to the growing firestorm over Donald Trump and his tax returns. He has not released them. Trump saying he is being audited, and that his taxes will be made public when the audit is complete. Tonight, what if that's not until after the election? And, we ask, does an audit prevent a candidate from revealing their taxes? ABC's Tom llamas on what we've just learned. Reporter: Donald Trump loves to boast about his fortune. I'm worth over $10 billion, and I don't say that bragging, folks. I have tremendous cash flow. I'm really rich. I'll show you that in a second. Reporter: But so far, he's refusing to prove it. And tonight, the associated press reporting trump says he may not release his tax returns until after the election, adding, quote, there's nothing to learn from them. But just three days ago, trump signaled he wanted those returns out from November. You don't learn much from tax returns. But I would love to give the tax returns. Reporter: Now, trump could be the first major presidential candidate in 40 years to refuse to release the information. Tonight, Hillary Clinton asking, what is trump hiding? My husband and I have released 33 years of tax returns. So, you got to ask yourself, why doesn't he want to release them? Yeah, well, we're going to find out. Reporter: Trump has waffled on releasing his returns for months. In February, tweeting this image, "Signing a recent tax return. Isn't this ridiculous?" That same month, this explanation. I will absolutely give my return, but I'm being audited now, for two or three years, so, I can't do it, until the audit is finished, obviously. Reporter: He's not the first candidate reluctant to disclose their returns. In 2012, David asking Mitt Romney why he wouldn't reveal his taxes. Can we clear this up by asking you a simple yes or no question? Was there ever any year when you paid lower than 13.9%? I haven't calculated that. I'm happy to go back and look. Reporter: Romney ultimately did release his tax returns well before election day. And tonight, he's slamming trump for not doing the same, calling it "Disqualifying," adding "There's only one logical explanation. There is a bombshell in them." And Tom llamas with us live tonight. Is there anything in federal law that prevents trump from releasing his tax returns if he's being audited by the irs? Reporter: David, we reached out to tax experts and they tell us, regardless of the audit, there is no law preventing trump from releasing his tax returns. This is his choice. David?

This transcript has been automatically generated and may not be 100% accurate.

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