It's been reported that the sitting president and vice president are subject to mandatory IRS audit.
Two questions regarding this:
Is there some statutory authority that requires the IRS to conduct these audits, and if not, what is the reasoning that compels the IRS to perform these audits?
When the IRS conducts these audits (of the president and vice president), does the IRS check on the legality or propriety of financial activities that are reported? (I'm thinking violations of emoluments clause, earnings from foreign entities, personal cash paid out to foreign entities, etc.)