Judge orders Trump to hand over tax returns

Federal judge orders Donald Trump to hand over eight years of his personal and company tax returns

The judge's ruling marked the latest in a string of setbacks for the president in the past couple of weeks. The president has fought back in court against releasing the information. Andrea Bernstein is covering this story.

Marrero's decision would have forced Trump's longtime accounting firm Mazars USA to start turning over documents on Monday afternoon.

Trump filed a lawsuit on September 19 in an effort to keep his tax returns secret.

Trump quickly filed an emergency notice of appeal to the federal appeals court in Manhattan.

Cohen was reimbursed by the Trump Organization. "This is the type of material that investigators nearly always get when they are investigating a white-collar crime". And if the public ever gets a look at Trump's returns, they'll see in vivid detail exactly how it works. According to The New York Times, on Monday, Oct. 7, a federal judge named Victor Marrero rejected the POTUS' claim that he (and all presidents for that matter) can't be investigated for criminal activity.

"This court can not endorse such a categorical and limitless assertion of presidential immunity", Marrero wrote in his ruling.

Trump's lawyers had argued that the president was immune from such a probe while in office and that the Constitution required Vance to wait until after Trump left the White House.

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The fact that Trump has not been prosecuted for his part in that scheme is only because according to a Justice Department opinion, the president can not be prosecuted while in office. Two judges have already ruled against Trump in other federal cases involving his financial records, and the president is appealing those decisions. So very little ambiguity in this decision.

There is no clause in the Constitution that clearly states whether sitting presidents can be indicted.

BERNSTEIN: Right. And he goes on to discuss. Trump interrupted her, leaning into his microphone to say, "That makes me smart". We don't want a president to be above the law, but we also don't want a president beset by politically ambitious local prosecutors who abuse their office to pry into the private or commercial lives of those who run for the office, either. So there is a great deal of constitutional discussion here.

In his opinion, Marrero allowed that some aspects of the criminal process could impede a President's ability to perform his duties. Grand jury secrecy rules apply.

"For those on Wall Street - and there were many - who believed that the judge was likely to defer to the judgment of the DOJ (and FCC), today's ruling should be a data point to rethink that view", said Levin, a former FCC chief of staff. The IRS has the president's tax returns. Democrats in Congress are suing the Treasury Department for six years' worth of his tax returns under a provision that requires the IRS to hand over any taxpayer's filings to Congress. So as of now, this morning, they're supposed to turn over those records. The lawyers submitted the appeal to the 2nd US Circuit Court of Appeals.

NBC News covered the news of the temporary stay in their article, headlined, "Trump wins delay in NY court fight over producing his tax returns".

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