Deutsche Bank throws curve into Trump tax return fight | TheHill


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The New York Times
SOURCE: http://thehill.com/policy/finance/459498-deutsche-bank-throws-curve-into-trump-tax-return-fight
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Summary

Trump plans to fight all efforts to have his tax returns disclosed — including in the Deutsche Bank case.A lawyer for Trump argued in a court filing Thursday evening that the House Financial Services and Intelligence committees don’t have the authority to request tax returns from Deutsche Bank, citing a section of the federal tax code.The House, however, argues that the tax code’s restrictions on disclosing tax returns wouldn’t bar Deutsche Bank from providing tax returns subject to subpoenas if the bank received the tax returns directly from the relevant taxpayers.Experts said they think the House’s position is the correct one and that Trump faces an uphill battle in trying to squash the Deutsche Bank subpoenas.“I think the House has the better argument here,” said University of Pittsburgh law professor Philip Hackney, though he also said he could see a court issuing a decision that’s in line with Trump’s arguments.Even if Democrats get their hands on Trump’s tax returns from Deutsche Bank before the 2020 presidential election, it’s no guarantee that the documents will help them politically.It’s not clear exactly whose tax returns Deutsche Bank has and what those documents say.

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