Supreme Court Leans Toward Upholding Foreign Income Tax, Sidesteps Wealth Tax Debate

The Supreme Court seemed ready to maintain a foreign income tax while simultaneously avoiding further discussion regarding the <a href="https://mamasaywhat.com/tax-breaks-for-the-rich-in-republicans-budget-proposal/" rel="noopener ugc nofollow" target="_blank">wealth tax</a>. The Supreme Court case, centering around a provision in the 2017 tax bill, came to the forefront as conservative and liberal justices expressed concerns during a two-hour session, delving into the complexities of tax law and its potential ramifications. The court’s leaning towards upholding the tax on foreign income was evident during arguments in a case brought by Charles and Kathleen Moore of Washington state that revolves around a $15,000 tax bill linked to Charles Moore’s investment in an Indian company called KisanKraft Machine Tools Private Limited. <a href="https://medium.com/mamasaywhat/supreme-court-leans-toward-upholding-foreign-income-tax-sidesteps-wealth-tax-debate-254ce00d4ab8">Read More</a>