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Manhattan D.A. Subpoenaed 8 Years of Trump Tax Returns, Report Shows

Topline: In the latest effort to release the president’s elusive finances, New York state prosecutors in Manhattan subpoenaed eight years of Trump’s personal and corporate tax returns, according to a new report.

  • In an article on Monday, the New York Times confirmed that the subpoena was issued late last month to Trump’s accounting firm, Mazars USA, seeking both his personal returns and those of the Trump Organization.
  • Manhattan district attorney Cyrus Vance Jr.’s office had already been investigating Trump; this latest subpoena opens a new front in the ongoing efforts to catch a glimpse of the president’s elusive tax returns—which he promised to release during the 2016 campaign but has yet to disclose.
  • The investigation by Vance’s office has focused on $130,000 of hush money paid by Michael Cohen to film actress Stormy Daniels: While federal prosecutors concluded their inquiry in July and charged Cohen, the Manhattan D.A.’s office is examining whether such payments violated any New York state laws.
  • Vance’s office was examining whether Trump’s company falsely accounted for the hush money as a legal expense, according to the New York Times report. Although that would be a crime under state law, it becomes a felony if only if it is proved that a false filing was made in conjunction with another crime such as tax violations or bank fraud.
  • A spokesman for the Manhattan district attorney declined to comment or provide further details on the ongoing investigation.

What to watch for: Since taking office, President Trump has consistently refused to reveal his finances and has blocked Democrats’ subpoenas by challenging them in federal court—though that could be more difficult to do in a Manhattan criminal investigation, which has a sitting grand jury, the report points out.

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