Supreme Court Weighs Trump-Era Tax Provision and Wealth Tax Implications
Originally Published 2 years ago — by The New York Times
The Supreme Court appeared open to narrowly upholding a tax on foreign income in a case that could have significant implications for the U.S. tax system. The justices seemed skeptical of striking down the tax and instead sought a limited ruling that would not set a broad precedent. The case, Moore v. United States, revolves around the definition of income and when it should be subject to taxation. The couple challenging the law argues that income should only include gains made through payment to a taxpayer, not through an increase in the value of property. The case has sparked controversy and calls for recusal from some justices due to potential conflicts of interest.
