Trump tax returns must be given to Congress, federal appeals court says in new ruling

Former President Donald Trump's tax returns must be turned over to the House Ways and Means Committee, a federal appeals court panel said in a ruling Tuesday.

The 3-0 decision is the latest legal blow to Trump, who has repeatedly lost efforts in federal and state courts to shield his tax returns and business-related documents from various investigations.

The ruling by the U.S. Court of Appeals for the District of Columbia Circuit was announced a day after FBI agents searched Trump's residence at his Mar-a-Lago Club in Palm Beach, Florida, as part of an investigation into the removal of sensitive documents from the White House when he left office in 2021.

The appeals panel said the House committee had the right under the law to obtain Trump's tax records from the U.S. Treasury Department.

The decision upholds a prior decision, by a federal district court judge, which was issued in December.

Trump is likely to ask the full D.C. Circuit Court of Appeals to re-hear the case or petition the U.S. Supreme Court to hear an appeal of Tuesday's ruling.

CNBC has requested comment on the ruling from Trump's attorney and spokeswoman, as well as from the Ways and Means Committee.

This is breaking news. Check back for updates.