Supreme Court Dispute: $15,000 IRS Bill Targets Never-Enacted Billionaire Tax

The Supreme Court is set to hear a case brought by Charles and Kathleen Moore, who argue that a $15,000 tax bill they received is unconstitutional. The case challenges a provision in the 2017 tax bill that imposes a one-time tax on American-owned companies doing business abroad. The Moores, backed by business and conservative interests, claim the provision violates the 16th Amendment. However, public records suggest inconsistencies in their story, including their involvement with the company and undisclosed investments. Experts suspect the case may be aimed at challenging a potential wealth tax on billionaires. The outcome could have broader implications for the tax code and other business formations.