A Washington state couple's nearly $15,000 tax bill was debated by the Supreme Court on Tuesday, in a case the Biden administration says could have "far-reaching consequences," potentially costing the government more than $5 trillion. At issue is whether ...

Justices on both sides of the ideological spectrum pressed a lawyer representing taxpayers who are seeking to throw out a repatriation tax on certain overseas earnings.

The justices looked for an even keeled ruling in a case that has the potential to leave the government out trillions in tax revenue.

Their eventual decision in the case could severely limit congressional options in enacting tax policy, and it could cost the federal government trillions of dollars in corporate taxes.

The case before the justices Tuesday could have sweeping implications for the U.S. tax system and derail proposals from some Democrats to create a wealth tax.

The challenge by a Washington state couple is widely viewed as an effort to preemptively block Congress from creating a wealth tax.

In a Supreme Court case revolving around one couple’s disputed tax bill, justices Tuesday wanted to explore the case’s potential broader implications, while opposing lawyers wanted them just to stick to the case at hand.

The court looked unlikely to impose strict new limits on Congress’s power to tax income, with some conservative and liberal justices alike signaling wariness about upending long-settled principles of the federal tax code.

The Supreme Court on Tuesday seemed inclined to uphold a tax on foreign income while leaving questions about a broader, never-enacted tax on wealth for another day.On the first issue, conservative and liberal justices voiced concerns that ruling for a Washington state couple challenging a provision of the 2017 tax bill would threaten other provisions of the tax code.