Trump Drops $10 Billion Lawsuit Against IRS—But He Could Be Looking For Billion-Dollar Payday

BreakingBusinessTrump Drops $10 Billion Lawsuit Against IRS—But He Could Be Looking For Billion-Dollar PaydayByAlison Durkee,Forbes Staff. Alison is a senior news reporter covering US politics and legal news.Follow AuthorMay 18, 2026, 09:51am EDTMay 18, 2026, 09:52am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplinePresident Donald Trump voluntarily dropped his $10 billion case against the Internal Revenue Service Monday amid reports he intended to settle in exchange for the U.S. creating a $1.7 billion fund for his political allies.President Donald Trump speaks to reporters aboard Air Force One on May 15.Copyright 2026 The Associated Press. All rights reserved.Key FactsThis story is breaking and will be updated.Got a tip? Share confidential information with Forbes.Editorial StandardsReprints & PermissionsLOADING VIDEO PLAYER...FORBES’ FEATURED Video