Lawyers for Mr. Trump did not immediately respond to a request for comment. But a member of his legal team has previously vowed to fight the congressional effort “tooth and nail.”
The case traces back to Mr. Trump’s decision — first as a presidential candidate in the 2016 election and then in office — to break with modern precedent by refusing to make his tax returns public.
When Democrats won control of the House, they began trying to investigate his finances using congressional oversight powers. Among other things, they heard testimony from Mr. Trump’s former lawyer, Michael D. Cohen, who said that Mr. Trump had boasted about inflating the value of assets when it served him, and undervaluing them when it helped to lower his taxes.
As prosecutors in Manhattan weigh whether to charge Mr. Trump with fraud, they have zeroed in on financial documents that he used to obtain loans and boast about his wealth, according to people with knowledge of the matter.
The Trump Investigations
Numerous inquiries. Since former President Donald Trump left office, there have been many investigations and inquiries into his businesses and personal affairs. Here’s a list of those ongoing:
Investigation into tax evasion. In July 2021, the Manhattan district attorney’s office charged the Trump Organization and its chief financial officer with orchestrating a 15-year scheme to evade taxes. A trial in that case is scheduled for summer 2022.
Investigation into election interference. The Atlanta district attorney is conducting a criminal investigation of election interference in Georgia by Mr. Trump and his allies.
Investigation into the Trump National Golf Club. Prosecutors in the district attorney’s office in Westchester County, N.Y., appear to be focused at least in part on whether the Trump Organization misled local officials about the property’s value to reduce its taxes.
Civil investigation into Trump Organization. The New York attorney general, Letitia James, is seeking to question Mr. Trump under oath in a civil fraud investigation of his business practices.
The same federal law that empowered Mr. Neal to request Mr. Trump’s tax returns from the Treasury Department also would permit House Democrats to publish them in the Congressional Record, although that power has rarely been used, Judge McFadden wrote.
Writing that the case put the country in “uncharted territory,” the judge — a 2017 appointee of Mr. Trump — warned that he did not think it would be wise for Congress to use its authority to publish Mr. Trump’s tax returns.
“Anyone can see that publishing confidential tax information of a political rival is the type of move that will return to plague the inventor,” the judge wrote. But he added: “It might not be right or wise to publish the returns, but it is the chairman’s right to do so.”
Source Article from https://www.nytimes.com/2021/12/14/us/trump-tax-returns.html
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