October 18, 2024
U.S. Solicitor General Elizabeth B. Prelogar is a once-in-a-generation talent who uses her seemingly endless knowledge of case facts and related law — along with her quick wit — to routinely spar with an often antithetical U.S. Supreme Court over some of the most consequential issues in a given term, experts and court watchers say.
July 08, 2024
With a U.S. Supreme Court decision affirming a key 2017 tax provision on repatriation, millions of dollars in FBAR penalties upheld and a French ruling confirming the U.S. government's access to foreign bank accounts, the IRS stacked up important court victories on international enforcement in the first half of 2024. Here, Law360 reviews those and other significant rulings from the past six months.
June 20, 2024
The U.S. Supreme Court upheld the 2017 federal tax overhaul's mandatory repatriation levy on Thursday, finding the measure applies to the earnings of foreign corporations with U.S. shareholders and therefore does not raise constitutional questions about taxing unrealized income.
January 01, 2024
The fates of unrealized income under the U.S. Constitution and the Internal Revenue Service's rulemaking authority under Chevron deference are hot-button tax topics in cases pending before the U.S. Supreme Court. Here, Law360 runs down some of the top federal cases tax experts will be keeping a close eye on in 2024.
December 05, 2023
U.S. Supreme Court justices questioned a Washington couple's counsel about their challenge to the one-time repatriation tax during oral arguments Tuesday, with some suggesting that a ruling in the couple's favor would upend other parts of the federal tax code.
December 01, 2023
The U.S. Supreme Court returns Monday for the last argument session of the calendar year to consider whether bankruptcy courts have the authority to sign off on third-party liability releases in Chapter 11 plans, whether Congress can tax unrealized foreign gains, and which standard should be used to determine the viability of employment discrimination claims.
November 15, 2023
The U.S. Supreme Court should conclude that a one-time mandatory repatriation tax enacted under the 2017 Tax Cuts and Jobs Act is unconstitutional, a couple said Wednesday, urging the justices to reject the federal government's claims that the 16th Amendment allows a levy on unrealized gains.
October 23, 2023
Sixteen states and Washington, D.C., told the U.S. Supreme Court on Monday that the one-time mandatory repatriation tax passed in the 2017 Tax Cuts and Jobs Act was a necessary provision for the law's international tax overhaul and should be found constitutional.
October 16, 2023
The one-time mandatory repatriation tax passed in the 2017 Tax Cuts and Jobs Act should be found constitutional, the government told the U.S. Supreme Court on Monday, arguing that the 16th Amendment permits taxes on undistributed earnings.
October 12, 2023
The U.S. Supreme Court will hear oral arguments Dec. 5 in a case testing the constitutionality of the one-time repatriation tax enacted under the 2017 Tax Cuts and Jobs Act, the high court said Thursday.