Below is a selection of Supreme Court cases involving taxes, arranged from newest to oldest. Moore v. U.S.(2024) Author:Brett Kavanaugh Congress may attribute an entity's realized and undistributed income to the entity's shareholders or partners, and then tax the shareholders or partners on ...
The case now before the Supreme Court could affect those third-party Amazon sellers and many other sellers that don't collect taxes in all states — sellers such as jewelry website Blue Nile, pet products site Chewy.com, clothing retailer L.L. Bean, electronics retailer Newegg and internet r...
Supreme Court to Hear Case Involving Taxes on MergersWASHINGTON -- The Supreme Court on Tuesday agreed to settle a tax dispute that could have broad...By RosensteinJay
Supreme Court hears case on government having the power to tax unrealized incomeWashington —The Supreme Court on Thursday left intact an obscure tax enacted as part of Republicans' sweeping 2017 reform package thattargets U.S. taxpayerswith shares of certain foreign corporations.The court ruled 7-...
The case, hinging on the Constitution's 16th Amendment, concerned whether people can be forced to pay taxes on stakes in foreign-owned companies even if they have not derived any income from them. The 16th Amendment says Congress has the power to "collect taxes on incomes." ...
Supreme Court, which has repeatedly ruled for religious claims that limit duties set by government, may free Catholic charities from paying the taxes. FromLos Angeles Times Ruth, a Massachusetts native, was a former law clerk for the state Supreme Court and a real estate attorney. ...
The Supreme Court’s recent ruling on FBAR penalties is a significant development for US taxpayers. By affirming that penalties must be proportionate to the violation at hand, the court has provided greater clarity and protection for taxpayers who may have been subject to steep penalties for failin...
The court ruled in the case of Charles and Kathleen Moore, of Redmond, Washington. They challenged a $15,000 tax bill based on Charles Moore’s investment in an Indian company, arguing that the tax violates the 16th Amendment. Ratified in 1913, the amendment allows the f...
Thomas Connelly filed suit, ultimately losing last month before the Supreme Court–and he’s now nearly $900,000 in back taxes poorer as a result. But Connelly’s woes are a warning to all closely held small companies that embraced the ownership redistribution strategy. “This case is a ...
The Supreme Court has begun hearing three combined court cases — two issued by congressional committees and one by a New York grand jury — demanding access to President Donald Trump’s long-withheld tax returns and financial records. The highly-anticipated meta-case calls into question the ...