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International Tax Blog - New and Interesting International Tax Issues

Famous Tax Quotes - Tax Legislation Is Not A Promise


Continuing our series on Famous Tax Quotes (quotes from court opinions and rulings with language that is colorful or that concisely states an important tax principle) today's tax quote is:

Tax legislation is not a promise, and a taxpayer has no vested right in the Internal Revenue Code.

Moore v. U.S., 129 AFTR 2d 2022-2046, (holding that the Section 965 Transition Tax did not violate the Constitution’s Apportionment Clause or the Fifth Amendment’s Due Process Clause).  Quoting from United States v. Carlton, 512 U.S. 26, 33 (1994).

Tags: 965 Transition Tax, Other - Famous Tax Quotes