News & Analysis as of September 22, 2024

Certiorari

+ Follow

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Will the Supreme Court Invalidate One or More Sections of the Tax Cuts and Jobs Act?

Miller Canfield on 8/18/2023

A tax case pending in the United States Supreme Court, Moore v. United States, may cause a cataclysmic change in the federal income tax. The 16th Amendment to the United States Constitution empowers Congress to impose “taxes...more

A Transition to What? SCOTUS Set to Decide the Fate of IRC 965

Bilzin Sumberg on 7/20/2023

The U.S. Supreme Court (“SCOTUS”) has decided to hear a case (Moore v. U.S., No. 22-800 ) where individual taxpayers owned shares in a controlled foreign corporation (“CFC”) and were subject to the so-called “transition tax”...more

Supreme Court Denies Certiorari in Whirlpool

McDermott Will & Emery on 11/22/2022

On November 21, 2022, the Supreme Court of the United States denied certiorari in Whirlpool Financial Corp., et al., Petitioners v. Commissioner of Internal Revenue, No. 22-9. This means that the US Court of Appeals for the...more

The Supreme Court - May 17, 2021

Dorsey & Whitney LLP on 5/18/2021

Today, the Supreme Court of the United States issued the following four decisions: BP p.l.c. v. Mayor and City Council of Baltimore, No. 19-1189: Congress has commanded that generally, an order remanding a case back to...more

MoFo Tax Talk - Volume 8, No. 4

Morrison & Foerster LLP on 2/3/2016

IRS PROVIDES RICS ALTERNATIVES TO ACCOUNT FOR FOREIGN TAX REFUNDS - Generally, when a U.S. taxpayer pays foreign tax, the U.S. taxpayer is entitled to take a credit (a “Foreign Tax Credit”) against the taxpayer’s U.S....more

5 Results

View per page