The Ways and Means Committee’s lawsuit is not as far along as the case over the records from Deutsche Bank. But Treasury and the IRS have rejected Neal’s request under the tax code and subsequent subpoenas for Trump’s returns, leading the Ways and Means Committee to file a lawsuit in July to get a judge to order the administration to provide the documents. Ways and Means Committee Chairman Richard Neal (D-Mass.) is seeking Trump’s tax returns under a provision of the tax code that states that the Treasury secretary “shall furnish” tax returns requested by the chairs of Congress’s tax committees. Separately from the Financial Services and Intelligence committees’ subpoenas, the House Ways and Means Committee is trying to obtain six years of Trump’s personal and business tax returns from the Treasury Department and IRS. The disclosure by Deutsche Bank that it has tax returns relevant to the subpoenas means that House Democrats could get their hands on Trump-related tax information from the bank before they get the president’s tax returns from the IRS, according to some observers that are following the legal battles. What does this mean for Democrats’ efforts to get Trump’s tax returns? The appeals court judges haven’t made a ruling yet about whether the two banks can comply with parts or all of House Democrats’ subpoenas. The judges then issued an order instructing the banks to tell the court whether they have tax returns of people and entities referred to in the subpoenas.Ĭapital One said on Tuesday that it doesn’t have tax returns relevant to its subpoena from House Democrats. The banks refused to answer the question at the time, citing contractual obligations. Court of Appeals for the 2nd Circuit heard oral arguments on the appeal last week, during which time the judges asked Deutsche Bank and Capital One if they had any tax returns responsive to the subpoenas. But the bank’s assertion - made as part of a court case over House Democrats’ subpoenas for financial records - could be good news for Democrats with an interest in seeing Trump’s returns before the 2020 presidential election.Ī federal district judge in New York ruled against issuing a preliminary injunction in the case, but Trump has appealed that ruling and the subpoenas won’t be executed while the appeal is being considered.Ī three-judge panel in the U.S. It’s not clear from the court document exactly what tax returns Deutsche Bank has. House Democrats’ efforts to obtain President Trump’s tax returns took a new turn this week, when Deutsche Bank said in a court filing that it has tax returns relevant to subpoenas for financial records of Trump, his children and his businesses.
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