The new date is Nov 22, 2022, 02:57pmEST.

The Supreme Court ruled Tuesday that former President Donald Trump will have to turn over his tax returns to the House Ways and Means Committee, which will make them public.

Donald Trump

Donald Trump spoke at Mar-a-lago on election day.

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The Supreme Court denied Trump's request to stop the IRS from turning over his tax returns.

The D.C. Circuit Court of Appeals ruled that the documents must be turned over.

The tax returns couldn't be turned over temporarily until the court could issue a more lasting decision in the case, but that was only a short-term ruling.

Trump said that turning over his tax returns would undermine the separation of powers and that lawmakers wanted his tax returns to be made public.

House lawmakers argued in a brief to the court that their request for Trump's taxes was valid for their legislative duties in Congress, as they planned to use the documents to investigate whether reforms to the IRS and presidential audit program are needed.

The attorney representing Trump in the case hasn't responded yet.

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In their petition to the Supreme Court, Trump's attorneys said that the Committee's purpose in requesting President Trump's tax returns has nothing to do with funding or staffing issues at the IRS and everything to do with releasing the President's tax information to the public

Key Background

According to his Supreme Court request, Trump was the first modern president in U.S. history to not release his taxes himself. The ex-president took the case to the Supreme Court after the district and appeals court judges ruled in his favor. The House Ways and Means lawsuit has nothing to do with the House Oversight Committee attempt to get access to Trump's financials.

Forbes Valuation

As of September, Trump's net worth is estimated to be $3.2 billion, which is mostly through real estate assets and his company's golf courses and resorts. The New York Times reported in 2020 that Trump paid only $750 in federal income taxes in 2016 and 2017.

The Chief Justice of the United States blocks Congress from getting the tax returns.

The Supreme Court is being asked to stop Congress from accessing his tax returns.

The appeals court rules can be obtained by the House committee.

Donald Trump's net worth is determined byForbes.