that is expected to generate $340 billion, mainly from the foreign subsidiaries of domestic corporations that parked money abroad to shield it from U.S. taxes.
The court ruled in the case of Charles and Kathleen Moore, of Redmond, Washington. They challenged a $15,000 tax bill based on Charles Moore’s investment in an Indian company, arguing that the tax violates the 16th Amendment. Ratified in 1913, the amendment allows the federal government to impose an income tax on Americans. Moore said in a sworn statement that he never received any money from the company, KisanKraft Machine Tools Private Ltd.
The tables have turned.Had everything gone according to plan, Donald Trump would be on trial right now in South Florida for hoarding classified documents at his Mar-a-Lago ocean estate after leaving the White House. The politician, still licking his wounds from his New York conviction, would be desperately fighting to stave off a humiliating distinction: becoming the first former president to be branded a two-time felon.