Federal Tax Update: Supreme Court Upholds the 965 Transition Tax

https://vimeo.com/966201086?share=copy

https://www.currentfederaltaxdevelopments.com/podcasts/2024/6/23/2024-06-24-supreme-court-upholds-the-965-transition-tax

This week we look at:

• The Supreme Court rules, in a more divided than it may appear opinion, that the §965 transition tax is Constitutional, sustaining the result from the Ninth Circuit in the Moore case.
• IRS gives interim guidance for special distribution relief in the SECURE Act 2.0 for certain distributions.
• IRS indicates it will now be (slowly) processing ERC claims, vast majority show issues