Appeals Court Rules President Must Turn Over 8 Years of Tax Returns

19 August 2024 at 01:46

NEW YORK — A federal appeals panel said Monday that President Donald Trump’s accounting firm must turn over eight years of his personal and corporate tax returns to Manhattan prosecutors, a setback for the president’s attempt to keep his financial records private.

Appeals Court Rules President Must Turn Over 8 Years of Tax Returns

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Benjamin Weiser

But the tax returns are not likely to be handed over soon. Trump has fought vigorously to shield his tax returns, and the case appears headed to the U.S. Supreme Court.

Trump had sought to block his accounting firm from releasing the tax returns to the office of the Manhattan district attorney, Cyrus R. Vance Jr. Prosecutors in the office are investigating the role of the president and his business in hush-money payments made to two women just before the 2016 presidential election.

The legal fight began in late August after the office of Vance, a Democrat, subpoenaed Trump’s accounting firm, Mazars USA, for his tax returns and those of his family business dating to 2011.

The office sought the records in connection with an investigation into whether any New York state laws were broken when Trump and his company, the Trump Organization, reimbursed his former lawyer and fixer, Michael Cohen, for payments he made to adult film actress Stormy Daniels, who claimed she had an affair with Trump.

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Cohen was also involved in money paid to Karen McDougal, a Playboy model who also said she had a relationship with Trump. The president has denied the relationships.

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Benjamin Weiser