How the Sixteenth Amendment and Mandatory Repatriation Tax could impact you!

In the case Moore v. United States, the court is being asked if you can be taxed for gains you haven’t realized yet.

Solicitor General Elizabeth Prelogar, arguing for the United States, claims that the MRT, or Mandatory Repatriation Tax, is grounded in the text and history of the Sixteenth Amendment. She points to several taxes that considered undistributed corporate earnings as income. However, each of the taxes she mentions predate the Sixteenth Amendment.

Why should you pay very close attention to this case? Because, as a direct tax on something other than income, a wrong opinion from the court could open up a deluge of new direct federal taxes on everything from your home, investments, and even your childhood Baseball Card collection

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