Why We’re Closely Watching Moore v. U.S.
The Moore v. United States case involves the question of “unrealized income” and its taxation. The plaintiffs, Charles and Kathleen Moore, are challenging the constitutionality of the Section 965 transition tax. The Supreme Court is expected to release an opinion soon, which could have significant impacts on tax policy, potentially reducing federal tax revenues. The ruling may also affect the implementation of the global minimum tax agreement known as Pillar Two. Additionally, the case could lead to changes in the timing of taxes and even preemptively strike down some wealth tax proposals.