Lawyers for Deutsche Bank all but confirmed on Tuesday that the German lender possesses some of President Donald Trump’s tax returns and those of his family members.
The financial giant was responding to an order from the 2nd Circuit Court of Appeals in New York, demanding information about whether Deutsche Bank and Capital One possess any of Trump’s tax returns subpoenaed by the House Financial Services and Intelligence committees earlier this year.
The hearing featured arguments over whether Deutsche Bank and Capital One should have to comply with subpoenas from Congress.NEW YORK — Attorneys for Deutsche Bank and Capital One repeatedly refused to tell a federal appeals court Friday whether the banks have President Trump’s tax returns, citing “contractual obligations” for rebuffing the court’s questions.
Trump is appealing a district court ruling that cleared the way for the banks to hand over years of financial records from the president, his three eldest children and the president’s companies to two House committees.
Toward the end of Friday’s hearing, the three-judge panel of the U.S. Court of Appeals for the 2nd Circuit considering the appeal asked the banks’ attorneys whether the documents subject to the subpoenas could potentially include the president’s tax returns.
View the complete August 23 article by Renae Merle on The Washington Post website here.
President Trump and the Republican National Committee filed two lawsuits Tuesday against California officials challenging a new law that would bar Trump from appearing on the state’s primary ballot next year if he declines to disclose his tax returns.
The federal lawsuits, which were threatened last week when Gov. Gavin Newsom (D) signed the bill into law, argue that the measure requiring presidential and gubernatorial candidates to release five years of tax returns runs afoul of the U.S. Constitution.
The RNC suit, which includes the California Republican Party as a plaintiff, alleges a “naked political attack against the sitting president of the United States.”
View the complete August 6 article by7 John Wagner on The Washington Post website here.
SACRAMENTO — President Trump will be ineligible for California’s primary ballot next year unless he discloses his tax returns under a state law that took effect immediately Tuesday, an unprecedented mandate that is almost certain to spark a high-profile court fight and might encourage other states to adopt their own unconventional rules for presidential candidates.
The law, signed by Gov. Gavin Newsom on the final day he could take action after it passed on a strict party-line vote in the Legislature earlier this month, requires all presidential candidates to submit five years of income tax filings. They must do so by late November to secure a spot on California’s presidential primary ballot in March. State elections officials will post the financial
“As one of the largest economies in the world and home to one in nine Americans eligible to vote, California has a special responsibility to require this information of presidential and gubernatorial candidates,” Newsom said in a statement that accompanied his signature on the bill. “These are extraordinary times and states have a legal and moral duty to do everything in their power to ensure leaders seeking the highest offices meet minimal standards, and to restore public confidence. The disclosure required by this bill will shed light on conflicts of interest, self-dealing, or influence from domestic and foreign business interest.”
View the complete July 30 article by John Myers on The Los Angeles Times website here.
The fight over President Trump’s tax returns has moved to the courts.
In recent weeks, the Democratic-led House Ways and Means Committee has filed a lawsuit in an effort to obtain Trump’s federal tax returns, and Trump has filed a lawsuit to prevent the committee from getting his New York state tax returns.
The court cases are sure to be closely watched. Democrats view obtaining Trump’s tax returns as a key oversight priority. Trump is the first president in decades who refused to voluntarily release any of his tax returns, and he is determined to keep them private.
View the complete July 28 article by Naomi Jagoda on The Hill website here.
President Trump on Tuesday sued the Democratic-controlled House Ways and Means Committee, the New York state attorney general and a New York state tax official to try to block any potential efforts by lawmakers to obtain his state tax returns.
The president filed the lawsuit in federal court in Washington, D.C., alleging that House Ways and Means Committee Chairman Richard Neal (D-Mass.) is considering using a recently passed New York state law to try to get Trump’s state tax returns.
“Because the Committee’s jurisdiction is limited to federal taxes, no legislation could possibly result from a request for the President’s state tax returns. The Committee thus lacks a legitimate legislative purpose for using the TRUST Act,” the lawsuit states.
View the complete July 23 article by Jacqueline Thomsen and Naomi Jagoda on The Hill website here.
New York Gov. Andrew M. Cuomo (D) signed legislation Monday that allows Congress to review President Trump’s state tax returns, giving House Democrats another potential tool for accessing the president’s closely guarded financial records.
Rep. Richard E. Neal (D-Mass.), chairman of the House Ways and Means Committee, has suggested he will not pursue Trump’s state returns, saying he is focused on obtaining documents held by the Internal Revenue Service. Last week, Neal filed a lawsuit against the IRS and Treasury Department over their denial of his request for Trump’s tax returns.
Some New York lawmakers have pushed the new law as a way to grant Congress greater oversight over the president. It gives certain congressional bodies the authority to request the state returns, provided those requesting the returns cite a “specified and legitimate legislative purpose.”
View the complete July 8 article by Jeff Stein on The Washington Post website here.
House Ways and Means Chairman Richard Neal is filing a lawsuit against the U.S. Treasury Department in an effort to compel the IRS to turn over President Trump’s tax returns.
Why it matters: Treasury Secretary Steven Mnuchin has denied multiple requests for Trump’s tax returns, including a subpoena from the House Ways and Means Committee in May — arguing that the demands “lack a legitimate legislative purpose.” The result of Mnuchin’s defiance is likely to be a protracted court battle.
View the complete July 2 article by Zachary Basu on the Axios website here.
New York state’s legislature on Wednesday approved a bill to allow the state to give Congress President Trump’s state tax returns, which could allow U.S. House members to review portions of the president’s financial records.
The bill now heads to New York Gov. Andrew M. Cuomo (D), who has expressed support for the effort and is expected to sign it into law.
It’s unclear whether House Democrats will request the state records, after a spokesman for the House Ways and Means Committee said the state documents may not be relevant to the committee’s investigation. The records would have to be requested by the committee for them to be turned over. Their disclosure by state officials could also be challenged in court.
View the complete May 22 article by Jeff Stein on The Washington Post website here.
The laws are clear, according to legal experts who say the IRS “shall” hand over the tax returns of any person in the U.S. if requested by the Chairman of the House Ways and Means Committee. The law also says any federal employee who does not properly execute tax laws can be jailed.
The Chairman of the House Ways and Means Committee gave the IRS a deadline of Wednesday to hand over six years of President Donald Trump’s tax returns. The Secretary of the Treasury, Steve Mnuchin, intervened. His response: We’re talking with the DOJ and we’ll get back to you.
Americans, the vast majority of whom want to see Trump’s tax returns, won’t under this law, but clearly they want the Chairman of the House Ways and Means Committee to see them.
