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Around the Tax World- September 8, 2026
In The HeadlinesThe robotaxis are coming: Uber cuts 10% of its workforce worldwide to focus on new investments.
What's New In The Tax World?Will Hollywood get a tax break with the support of President Trump?
State-By-State-UpdatesLouisiana appeals to SpaceX with a $27.5 billion tax incentive package.
Tax Planning TipsThe IRS provides more clarity on how “no tax on overtime” actually works
READ MOREAround the Tax World- January 23, 2023
World NEWS - Walmart paid almost $1 billion in taxes after moving
PhonePe headquarters to India…
U.S. NEWS - 38 U.S. states will see tax changes in 2023—including significant tax reductions...
STATE NEWS - Kentucky legislators seek to pass an income tax reduction bill…
TAX PLANNING - New year, new tax brackets—taxpayers anticipate higher take-home pay in 2023...
Around the Tax World- January 10, 2023
World NEWS - Walmart paid almost $1 billion in taxes after moving
PhonePe headquarters to India…
U.S. NEWS - 38 U.S. states will see tax changes in 2023—including significant tax reductions...
STATE NEWS - Kentucky legislators seek to pass an income tax reduction bill…
TAX PLANNING - New year, new tax brackets—taxpayers anticipate higher take-home pay in 2023...
Around the Tax World- December 9, 2022
World NEWS - Prosecutors in the Trump Organization trial claim that the former president sanctioned tax fraud...
U.S. NEWS - Taxpayers may see a much smaller tax refund from their 2022 returns...
STATE NEWS - Texas’ tax relief plans may negatively impact public schools…
TAX PLANNING - E-Commerce platforms petition to increase the business transaction threshold under the new tax reporting rules...
Around the Tax World- November 29, 2022
World NEWS - The Supreme Court approved the disclosure of Trump’s tax records to Congress...
U.S. NEWS - Congress receives renewed pressure to revive the expanded child tax credit...
STATE NEWS - The governor of Virginia announces plans to pursue tax cuts in the 2023 budget…
TAX PLANNING - Special tax rules will apply in 2023 for income received through third-party payment platforms...
Around the Tax World- November 10, 2022
World NEWS - Donald Trump files an emergency request to stop his personal tax returns from being disclosed...
U.S. NEWS - President Biden threatens to introduce a windfall tax on oil companies as profits surge...
STATE NEWS - Arkansas brings in unexpectedly high tax revenue…
TAX PLANNING - Tax experts estimate that 40% of American households will not pay federal income tax for 2022...
Around the Tax World- October 26, 2022
World NEWS - Jury selection begins for the Trump Organization’s tax fraud trial in New York...
U.S. NEWS - IRS inflation adjustments for 2023 may result in less taxation and more income for taxpayers...
STATE NEWS - A Chicago tax loophole has caused suburban communities to lose $280 million…
TAX PLANNING - President Biden’s elimination of tax credits for electric vehicles assembled overseas sees increased pushback...
Around the Tax World- October 10, 2022
World NEWS - The UK abandons a plan to cut taxes for the nation’s highest income earners…
U.S. NEWS - Two-thirds of US states have implemented tax cuts this year as a result of booming state revenue...
STATE NEWS - Seeking to compensate for declining gas taxes, Virginia launched a pay-by-mile program…
TAX PLANNING - Taxpayers rushing to make the 2022 tax extension deadline on October 17th should watch out for three common mistakes...
Around the Tax World- September 27, 2022
World NEWS - Tesla aims for U.S. tax breaks by looking into battery cell production stateside…
U.S. NEWS - The Inflation Reduction Act’s biggest tax changes impact homeowners and business owners...
STATE NEWS - The Illinois Family Relief Plan features income and property tax rebates...
TAX PLANNING - Which home upgrades could qualify for the new Inflation Reduction Act tax rebates...
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CURRENT EDITION
Will AMT Make a Comeback After OBBBA?
Following Betteridge’s Law of Headlines, the answer to the question posed in the headline is, “no.” Actually — because we’re talking about taxes here — we can say the answer is never so definitive, so let’s change it to “probably not.” But it’s more complicated than it may seem.
Why Citizenship, Residency, and Domicile Matter
If you spend any time in the world of cross-border taxes, you start to notice a pattern: the hardest problems usually begin with a deceptively simple question—who gets to tax you? And the answer is rarely as simple as “the country where I live.” That’s because tax systems don’t rely on just one concept to decide who belongs in their net. They use citizenship, residency, and domicile. These terms sound similar, and people often use them interchangeably in casual conversation, but in tax law they mean very different things. For globally mobile individuals, understanding the difference matters. You can be a U.S. citizen, a tax resident of another country, and still have your long-term home base tied to a different jurisdiction altogether. Each label can trigger different tax consequences, different filing obligations, and different planning opportunities.
Sophisticated EMR Software Meets Old-School Skimming: Lessons From The Aryanpure Case
The simplest way to reduce your taxable income from an S corporation is to take some of the gross receipts directly into your personal account without running them through the corporate books. Don’t mention this to your tax preparer and make sure they don’t find out. If you get caught by the IRS, though, hire an expert to explain why it is your preparer’s fault. This plan did not work all that well for a couple, both physicians, who were running two medical family medical clinics through an S Corporation called MedExpress. They ended up being liable for the fraud penalty which has the collateral effect of extending the statute of limitations indefinitely. At 75% the fraud penalty is as bad as it can get without losing your liberty.
