The U.S. Supreme Court Case is considering a case involving taxing unrealized gains that would change how all wealth is taxed in the United States. The Moore V. United States case is now under consideration with an answer to come likely in June 2024. The case is about the 2017 Tax Cuts and Job Act(TCJA) and the Moore case argues it unconstitutional.

  • The one-time tax is levied on U.S. Taxpayers with ownership in foreign corporations.
  • The Moore’s did not receive income from their ownership in a foreign corporation, and argue only realized income can be taxed under the 16th Amendment of the U.S. Constitution.
  • ARTICLE XVI. The Congress shall have the power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”

According to broadcaster Mike Adams of Natural News(starts at 14:44 at his broadcast):

If the U.S. Supreme Court sides with the Federal Government on the Moore V. United States case, it will allow the Federal Government to essentially confiscate virtually all assets of the American people Including your stocks, land, home, gold, almost everything! Adams says this case is challenging the constitutionality of a tax law which was part of a law enacted in 2017 under the Tax Cuts and Jobs Act. This law requires a one-time repatriation on unrealized profits that are held overseas. For instance, if you were an investor in an overseas company and that company never paid you profits but reinvested its own dividends, and you maintain your ownership of the company, you are supposed to pay taxes on the unrealized gain, even though you never got paid. So this couple, Charles and Kathy Moore sued the U.S. government after they were billed  fourteen thousand seven hundred dollars or so as a tax obligation because this company they invested in India have rolled over some dividends, but the company never paid the Moore’s any money but the IRS said ‘”You owe us fourteen thousand seven hundred dollars.” The Moore’s challenged this and the case has gone to the U.S. Supreme Court, in fact, oral arguments have already taken place about a week ago. The U.S. Supreme Court is set to rule on this case by June 2024.

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Supreme Court Update On Tax Cases (March 1, 2022)

Multiple federal tax cases continue to make their way to the U.S. Supreme Court, and it has certainly been interesting to monitor changes and updates to the Court’s docket. I previously wrote a blog on the oral arguments held on January 12, 2022, in Boechler, P.C. v. Comm’r[1] that addressed whether the time limit in Section 6330(d)(1) is a jurisdictional requirement for Tax Court petitions. See CDP Proceedings—Is the Time Limit in Section 6330(d)(1) a Jurisdictional Requirement for Tax Court Petitions?. Even Freeman Law is awaiting the Court’s decision on its Petition for Writ of Certiorari in   Rivero v. Fidelity Invs., Inc.[2] Last week, however, the Supreme Court denied certiorari for three tax cases described in more detail below.

Supreme Court Tax Case Denials

On February 22, 2022, the U.S. Supreme Court granted two petitions for a writ of certiorari. At that same time, it denied a multitude of other petitions, including three pertinent tax cases: (1) Maehr v. United States Dep’t of State; (2) Montero v. United States; and (3) Harris v. Comm’r of Internal Revenue.

  1. Maehr v. United States Dep’t of State[3]

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