Both Mayor Eric Adams and former Governor Andrew Cuomo have sought extensions for their 2024 tax returns, potentially delaying public access to these disclosures until fall at the earliest. Confirmation was provided that Mayor Adams submitted his extension request by the deadline, with assurances that all owed taxes for the previous year have been paid. However, there has been no immediate confirmation regarding whether he will make his 2024 tax return publicly available once filed. The extension gives Adams until October 15 to submit his return.
Similarly, a spokesperson for Cuomo, currently a leading candidate to succeed Adams as mayor, confirmed that Cuomo has also filed for an extension. There is no immediate confirmation from Cuomo’s campaign regarding the public release of his return. Historically, both Adams and Cuomo have filed extensions on their returns, subsequently making them public.
In the past, Adams’ disclosures have sometimes revealed discrepancies, notably conflicting with income reports filed with the city’s Conflicts of Interest Board (COIB). This year, Adams missed the COIB financial disclosure deadline, a move confirmed by the board, though no immediate explanation has been provided.
Adams’ 2024 tax return and COIB filing will mark the first financial disclosures since a federal corruption indictment charged against him last fall, which was controversially dismissed by the Justice Department.
There is notable interest in Cuomo’s financial disclosures, particularly due to reports of his $500,000 income from legal consulting with undisclosed clients in 2024. Several other mayoral candidates have already released their recent tax returns. Queens Assemblyman Zohran Mamdani and City Comptroller Brad Lander are among those who have done so, with Lander’s filings revealing a nearly $400,000 income. Additional candidates, including Council Speaker Adrienne Adams and former Comptroller Scott Stringer, have committed to releasing their returns soon, while candidates Whitney Tilson and Zellnor Myrie have also filed for extensions.
The Bottom Line
The decision by both Mayor Adams and former Governor Cuomo to file for extensions on their 2024 tax returns may affect public transparency and accountability. For residents, the delayed availability of these financial disclosures may limit their ability to assess the financial integrity and transparency of these political figures. Additionally, discrepancies revealed in the past raise concerns about financial reporting accuracy, influencing voter trust and confidence.
As the mayoral race intensifies, the public’s desire for transparency is paramount, with voters seeking clarity on candidates’ financial dealings as part of their decision-making process. The eventual release or withholding of these returns may influence public opinion and voter behavior, potentially impacting the upcoming election and governance in the city.