“The Supreme Court said Monday that it will hear arguments in a tax law case that could yield billions of dollars for large corporations, block Democrats’ proposals to tax wealthy Americans and upend longstanding chunks of the tax code,” the Wall Street Journal reports.
“The court, in an unsigned order, said it would decide a case that asks whether people and companies have to receive, or realize, income for it to be taxed under the 16th Amendment. Arguments will happen in the court term that starts in October.”
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