tax returns

Updated at 8:40 p.m. ET

The U.S. Supreme Court has temporarily blocked the release of President Trump's tax records sought by congressional Democrats. The House Committee on Oversight and Government Reform had subpoenaed Trump's New York accounting firm in April to produce those documents.

President Trump is asking the U.S. Supreme Court to block New York prosecutors' subpoenas for his tax records, setting the stage for a legal showdown over the separation of powers and his personal finances.

The president's private lawyers are asking the high court to block New York County District Attorney Cyrus Vance Jr.'s efforts to get eight years of Trump's tax records. A New York grand jury issued a subpoena directed not to the president personally, but to an accounting firm that has long dealt with his personal finances, Mazars USA.

Updated at 10:59 a.m. ET

A federal appeals court has granted President Trump a temporary stay of decision, and he will not have to turn over his tax returns to the Manhattan district attorney.

Earlier on Monday, a federal judge in New York ruled that Trump's longtime accounting firm must turn over eight years of tax returns as part of a criminal probe of his business dealings. The president's personal attorneys immediately filed a notice of appeal.

Treasury Secretary Steven Mnuchin said he has "not yet" reviewed a confidential draft Internal Revenue Service memo, which reportedly says the agency must turn over a president's tax returns to Congress unless the president asserts executive privilege.

Appearing before the House Financial Services Committee on Wednesday, Mnuchin said he looked at the memo for the first time "literally on the way up here."

Updated at 7:15 p.m. ET

Democrats have long called for President Trump to release his tax returns, and now a key congressman has put in a formal request with the IRS.

Massachusetts Democrat Richard Neal, chairman of the tax-writing House Ways and Means Committee, is requesting six years of Trump's personal tax returns and the returns for some of his businesses for the years 2013-2018. Neal argues that Congress, and his committee in particular, need to conduct oversight of the IRS, including its policy of auditing the tax returns of sitting presidents.

House Democratic leader Nancy Pelosi vowed this week to demand President Trump's tax returns if Democrats win control of the House of Representatives next month.

Pelosi, seeking to regain her gavel as House speaker after elections in November, told The San Francisco Chronicle editorial board that the move "is one of the first things we'd do — that's the easiest thing in the world. That's nothing."

South Florida Republicans voted to block House Democrats’ efforts to force President Trump to release his tax returns last night.

Representative Bill Pascrell, (D-NJ) put forward the resolution to “request the tax return information of Donald J. Trump for tax years 2006 through 2015” for review by the House Ways and Means Committee.

Pascrell argued that information about Trump’s businesses, debts, and creditors is essential to decipher any potential conflicts of interest and ties to Russia that spring from his global real estate and branding empire.