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The question presented in Moore is: “Whether the 16th Amendment authorizes Congress to tax unrealized sums without apportionment among the states.” Specifically in the Moore case, the question is whether Congress may tax as income the Moores’ pro rata share of the undistributed earnings of a corporation in which they are shareholders.
When the Supreme Court hears Moore v. United States in its upcoming term, the justices will technically be hearing a case about a minor one-time repatriation tax that was buried in a federal tax-code overhaul six years ago. What they may actually be deciding is whether Democratic proposals for a federal wealth tax are unconstitutional.That is the hope, at least, of the dozens of right-wing legal groups and other organizations representing wealthy Americans that filed friend of the court briefs w
In the tax world, the Supreme Court's decision to hear arguments in Moore v. United States is a big deal because it challenges the constitutionality of a tax on foreign earnings known as a mandatory repatriation tax...
I encourage people to ask questions. I believe there are only two “stupid” questions in the world: The one you don’t ask and the one you ask three times. Questions are important. We cannot truly learn unless we ask questions. Several weeks ago I posted the article The Role of Congress.
If you take out a life insurance policy with an annual premium of more than Rs 5 lakh, the maturity proceeds will be taxable.