The US Supreme Court has ruled that President Trump must release his financial records so that they can be examined by prosecutors in New York.
In a related case, the court ruled Mr Trump did not have to share this information with Congress.
Mr Trump, a former businessman, is the first president since Richard Nixon in the 1970s not to have made his tax returns public.
His lawyers argued that he enjoys total immunity while in office.
Two Democrat-controlled House of Representatives committees and New York District Attorney Cyrus Vance – also a Democrat – had demanded several years worth of Mr Trump’s taxes in order to determine whether current conflict of interest laws on a US president are tough enough.
The ruling was closely watched as it could have had implications on how far US lawmakers can scrutinise the activities of a sitting president.
Mr Trump, a Republican, denies wrongdoing and has called the investigation into his tax affairs a “witch hunt”.
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