Supreme Court decisions: Implications for the tax and accounting profession

In Loper Bright, the Supreme Court overruled the longstanding Chevron doctrine, which granted latitude for agencies to interpret the statutes they administer in dispute cases. The ruling in Loper Bright marks a monumental shift in power to the courts as opposed to executive agencies in the interpretation and implementation of federal law.

Loper Bright Enterprises v. Raimondo, No. 22-451 (U.S. 6/28/24)

In Loper Bright, the Supreme Court overruled the longstanding Chevron doctrine, which granted latitude for agencies to interpret the statutes they administer in dispute cases. The ruling in Loper Bright marks a monumental shift in power to the courts as opposed to executive agencies in the interpretation and implementation of federal law.

Corner Post, Inc. v. Board of Governors of the Federal Reserve System, No. 22-1008 (U.S. 7/1/24)

The Supreme Court’s decision in Corner Post clarifies the timeframe in which a party can sue an agency under the Administrative Procedure Act (APA) for harm caused by the agency’s final regulations. It significantly extends the timeframe to be by 6 years from when the party is injured (as opposed to the previous 6 years from when the ruling was issued).

Corner Post, Inc. v. Board of Governors of the Federal Reserve System, No. 22-1008 (U.S. 7/1/24)

The Supreme Court’s decision in Corner Post clarifies the timeframe in which a party can sue an agency under the Administrative Procedure Act (APA) for harm caused by the agency’s final regulations. It significantly extends the timeframe to be by 6 years from when the party is injured (as opposed to the previous 6 years from when the ruling was issued).

Access answers to frequently asked questions about Loper Bright and the Chevron Doctrine, such as:

What impact will the reversal of the Chevron doctrine have on future tax law?

Is Congress considering any legislation that would reinstate Chevron?

Loper Bright and the Chevron doctrine: Frequently asked questions (FAQ)

Sep 27, 2024

Access answers to frequently asked questions about Loper Bright and the Chevron Doctrine, such as:

What impact will the reversal of the Chevron doctrine have on future tax law?

Is Congress considering any legislation that would reinstate Chevron?

Loper Bright and the Chevron doctrine: Frequently asked questions (FAQ)

Sep 27, 2024

Guidance and insights

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Resources

Loper Bright and the Chevron doctrine: Frequently asked questions (FAQ) — Delve into a set of FAQ on the Loper Bright decision and its crucial role in overturning the Chevron doctrine, highlighting implications for legal standards.

Podcasts

Chevron doctrine overturned: Implications for tax professionals | Tax Section Odyssey — Uncover how Supreme Court rulings in Loper Bright and Corner Post upended the longstanding Chevron doctrine and extended the timeframe for regulation contests.

Unpacking Supreme Court decision — Moore v. U.S. with Tony Nitti | Tax Section Odyssey — Examine the complexities of the Moore v. United States case as we delve into the Supreme Court’s pivotal decision on the mandatory repatriation tax and its implications for the future of tax law.

All eyes on Moore v. U.S. plus a history lesson on tax cases | Tax Section Odyssey — The TCJA imposed a deemed repatriation tax (Sec. 965). In the Moore v. United States case, the constitutionality of this policy is being challenged.