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Supreme Court Denies Trump’s Bid to Conceal Taxes, Financial Records

  • February 23, 2021

It remains unclear whether the prosecutors will ultimately file charges against Mr. Trump, the company, or any of its executives, including Mr. Trump’s two adult sons, Donald Trump Jr. and Eric Trump.

The court’s order will not put Mr. Trump’s tax returns in the hands of Congress or make them automatically public. Grand jury secrecy laws will keep the records private unless Mr. Vance’s office files charges and enters the documents into evidence at a trial.

The New York Times obtained tax return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office.

Last year, The Times published a series of investigative articles based on an analysis of the data, which showed that Mr. Trump had paid virtually no income tax for many years and that he is under an audit in which an adverse ruling could cost him more than $100 million. He and his companies file separate tax returns and employ complicated and sometimes aggressive tax strategies, the investigation found.

As a candidate in 2016, Mr. Trump promised to disclose his tax returns, but he never did, breaking with White House tradition. Instead, he fought hard to shield the returns from scrutiny, for reasons that have been the subject of much speculation.

In 2019, Mr. Trump went to court to fight the subpoena, arguing that as a sitting president, he was immune from criminal investigation. The United States Court of Appeals for the Second Circuit, in New York, ruled against that argument and said state prosecutors may require third parties to turn over a sitting president’s financial records for use in a grand jury investigation.

Mr. Trump appealed to the Supreme Court. In July 2020, the justices soundly rejected Mr. Trump’s central constitutional argument against the subpoena in a landmark ruling.

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