Photo: Oliver Douliery/AFP via Getty Images

The Second Circuit Court of Appeals on Monday ruled that President Trump must turn over eight years of his tax returns to a state grand jury, according to the New York Times.

Why it matters: Trump's attorney Jay Sekulow said after the ruling that the president's legal team is appealing the case to the Supreme Court, according to Politico's Darren Samuelsohn.

Details: The court dodged Trump's legal team's argument that he is immune from criminal investigations while in the White House, saying instead that the president’s accounting firm is being subpoenaed for the documents — not Trump himself.

Background: The legal fight over Trump's tax returns started in August when Manhattan District Attorney Cyrus Vance Jr. subpoenaed the president’s accounting firm, Mazars, as part of a criminal investigation into allegations that the Trump Organization made hush money payment during the 2016 presidential election to two women who had affairs with Trump.

  • Vance Jr. requested the president's tax returns and those of his family business dating back to 2011.
  • Michael Cohen, Trump's former personal lawyer, is currently serving out a 3-year sentence for campaign finance violations for making a $130,000 payment to adult film star Stormy Daniels and a $150,000 payment to Playboy model Karen McDougal on the condition that they did not reveal their past relationships with Trump.
  • Vance Jr. is investigating whether the Trump Organization falsely listed its reimbursement of Cohen for the $130,000 payment to Daniels as a legal expense.
  • Trump's lawyers countersued the subpoena, saying the criminal investigation of the president was unconstitutional.

Go deeper: Trump lawyer argues the president can't be prosecuted for shooting someone

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The CIA's new license to cyberattack

Illustration: Aïda Amer/Axios

In 2018 President Trump granted the Central Intelligence Agency expansive legal authorities to carry out covert actions in cyberspace, providing the agency with powers it has sought since the George W. Bush administration, former U.S. officials directly familiar with the matter told Yahoo News.

Why it matters: The CIA has conducted disruptive covert cyber operations against Iran and Russia since the signing of this presidential finding, said former officials.

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Tech hits the brakes on office reopenings

Illustration: Annelise Capossela/Axios

Tech was the first industry to send its workers home when COVID-19 first hit the U.S., and it has been among the most cautious in bringing workers back. Even still, many companies are realizing that their reopening plans from as recently as a few weeks ago are now too optimistic.

Why it matters: Crafting reopening plans gave tech firms a chance to bolster their leadership and model the beginnings of a path back to normalcy for other office workers. Their decision to pause those plans is the latest sign that normalcy is likely to remain elusive in the U.S.

The existential threat to small business

Illustration: Eniola Odetunde/Axios

The coronavirus pandemic has changed the game for U.S. businesses, pushing forward years-long shifts in workplaces, technology and buying habits and forcing small businesses to fight just to survive.

Why it matters: These changes are providing an almost insurmountable advantage to big companies, which are positioned to come out of the recession stronger and with greater market share than ever.