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Politics The Supreme Court rejected Trump's attempt to keep his tax returns secret from Manhattan's district attorney

18:05  22 february  2021
18:05  22 february  2021 Source:   businessinsider.com

What SCOTUS ruling means for Manhattan DA's Trump criminal investigation

  What SCOTUS ruling means for Manhattan DA's Trump criminal investigation After 17 months and two trips to the US Supreme Court, the Manhattan district attorney's criminal investigation into former President Donald Trump's business has received a significant boost with investigators now able to pour over Trump's tax returns and financial records. © Drew Angerer/Getty Images The Manhattan district attorney's office is expected to have access to tax returns and financial records for Donald Trump and Trumg Org within the next few days.

a close up of Donald Trump wearing a blue shirt: Donald Trump. Getty © Provided by Business Insider Donald Trump. Getty
  • The Supreme Court has ruled that Trump can't keep his tax returns from a Manhattan grand jury.
  • It's the second ruling against the former president's attempts to keep his returns from Manhattan District Attorney Cyrus Vance Jr.
  • Visit the Business section of Insider for more stories.

The US Supreme Court has rejected Donald Trump's attempts to keep his tax returns secret from the Manhattan District Attorney, intensifying the possibility that the former president will be subject to criminal prosecution.

The Supreme Court rejected Trump's plea Monday after stalling a decision for nearly four months. None of the justices provided any comment in issuing the decision.

Trump closer to legal jeopardy after court ruling on tax returns

  Trump closer to legal jeopardy after court ruling on tax returns The Supreme Court on Monday declined to shield former President Trump's tax returns from a New York grand jury subpoena, a step that could place Trump and his businesses closer to legal jeopardy.Among the handful of cases that could expose the former president to criminal liability, the probe by Manhattan District Attorney Cyrus Vance Jr. (D) into Trump's financial dealings appears to be the furthest along.The justices' move Monday was a shotAmong the handful of cases that could expose the former president to criminal liability, the probe by Manhattan District Attorney Cyrus Vance Jr. (D) into Trump's financial dealings appears to be the furthest along.

"The work continues," Vance said in a statement.

Manhattan District Attorney Cyrus Vance Jr. has gone to great lengths to investigate Trump's finances, going twice to the Supreme Court to ensure his office could review his returns and present them to a grand jury.

The investigation was initially triggered by the February 2019 congressional testimony of Michael Cohen, formerly Trump's personal lawyer and an executive of the Trump Organization, who said he facilitated payments on Trump's behalf to hush up Stormy Daniels, a woman who claims to have had an affair with Trump. Vance is reportedly looking into whether such payments violated the law, as well as whether Trump and the Trump Organization kept two sets of books for finances - one for seeking favorable loan terms, and another to pay low tax rates.

Prosecutors just got millions of pages of Trump documents. His taxes are just the beginning.

  Prosecutors just got millions of pages of Trump documents. His taxes are just the beginning. The records are likely to offer New York investigators a revealing look into the former president’s business dealings, experts say.Trump had fought for more than a year to keep his records out of the hands of Manhattan District Attorney Cyrus Vance. But after a Supreme Court decision this week cleared the way for the documents' release, they have been given to Vance’s investigators.

In July 2020, the Supreme Court ruled that Vance could seek Trump's tax returns, but allowed room for Trump to make objections to the particulars of Vance's subpoena. The Supreme Court has now dismissed the newer procedural arguments Trump's attorneys have raised.

The ruling does not mean the tax returns used for the investigation will become available to the public. Grand jury materials must remain secret under New York state law but could become public if the Manhattan District Attorney's office includes them as evidence in an indictment or as evidence if the case goes to trial.

The Vance investigation into Trump's finances has intensified since the former president left office. In recent weeks, Vance has subpoenaed New York City's property tax agency and hired a special prosecutor to oversee the investigation.

Vance's investigation is running parallel to a separate one overseen by New York State Attorney General Letitia James, which is also looking into whether Trump kept two sets of books and whether his family business misrepresented assets to pay less in taxes.

The New York investigations are among the numerous perilous legal challenges the president faces, including investigations into his conduct as president, potential financial crimes committed through his inaugural organizing committee, his involvement in the January 6 insurrection, and lawsuits over sexual assault accusations.

Read the original article on Business Insider

Pandemic, stimulus checks complicate tax-filing season for millions .
The tax-filing season is now underway after a delayed start, and it's expected to bring challenges and confusion as taxpayers and the IRS navigate pandemic-related issues, including some pertaining to stimulus checks.The IRS started accepting 2020 tax returns on Friday, a couple of weeks later than the usual, after a coronavirus relief law was enacted in late December.Many Americans saw significant changes to the amount and sources of their income last year because of the pandemic, and they will have to file returns that take those into account.

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