The message from Supreme Court justices Tuesday to those worried that a crucial case on foreign-income taxes could upend big chunks of the tax code was: We hear you.
Several justices suggested that they want to avoid the kind of dire ripple effects that some have feared could stem from a broad ruling in the case, Moore v. United States. The case challenges a tax on companies’ foreign income, but many tax-world observers are concerned that a high-court ruling striking down the tax also could jeopardize a host of other taxes based on similar principles, such as partnership taxes ...