Supreme Court Urged to Decide When Income Becomes Taxable

The Supreme Court should review a case over whether a couple could be taxed on earnings that were retained by the Indian company they invested in, the couple urged in a court petition.

Charles and Kathleen Moore filed the petition with the high court on Tuesday, after a divided appeals court refused to rehear their case. The Moores are challenging the constitutionality of what’s known as the “transition tax” or “mandatory repatriation tax,” which was created in the 2017 tax law to target US shareholder foreign earnings that hadn’t been ...