Judges rule NYC prosecutors can access Trump's tax returns

Oct. 7 (UPI) -- A federal appeals court again ruled against President Donald Trump on Wednesday in his bid to block a New York grand jury from seeing years of income tax returns.

A three-judge panel of the Court of Appeals for the 2nd Circuit upheld a lower court ruling that denied Trump's attempt to block a grand jury subpoena for the records that was sought by Manhattan District Attorney Cyrus Vance Jr.

In its unanimous ruling, the panel dismissed Trump's claim that the subpoena seeking his tax records from accounting firm Mazars USA was overly broad and politically motivated. The decision said Trump's argument was based on mere speculation of what issues Vance is looking into.

"We have considered all of the president's remaining contentions on appeal and have found in them no basis for reversal," the judges wrote.

Vance is believed to be looking into accusations that former Trump attorney Michael Cohen made "hush money" payments to adult film star Stormy Daniels on Trump's behalf before the 2016 election. The district attorney has since indicated, however, that the investigation is also weighing possible charges of insurance, bank and tax fraud.

The U.S. Supreme Court in July rejected Trump's claim that, as president, he has immunity from state grand jury investigations.

In its decision Wednesday, the appellate panel, however, declined to enforce the ruling immediately, giving Trump's attorneys time to again appeal to the U.S. Supreme Court.

The new ruling follows a New York Times report less than two weeks ago that said Trump paid just $750 in federal income taxes in 2016 and 2017 -- and no income taxes at all in 10 of the previous 15 years.

The Times report, which was based on tax returns provided by an unidentified source, also said Trump has been fighting with the Internal Revenue Service over a $72.9 million tax refund he claimed in 2010 -- and that he owes more than $400 million to various creditors.