Supreme Court Moore Case Could Invalidate Decades of Tax Rules

In the US Supreme Court case Moore v United States, shareholders in a “controlled” foreign corporation challenge a tax on income they had not yet received. But a ruling in their favor could upend decades of rules to curb tax avoidance in international and capital markets. As a matter of fiscal prudence and good practice, Congress must be able to craft tax laws that keep pace with increasingly sophisticated markets without fear of judicial reproach.