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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- November 7, 2024
In The Headlines -Starbucks wants to win you back—with simpler menu offerings and lower prices
What's New In The Tax World?Is the elimination of federal income tax a real possibility?
State-By-State UpdatesCalifornia may up its tax credit offerings to the film and television industry.
Tax Planning TipsWhat happens if the Tax Cuts and Jobs Act provisions expire? You can prepare today for the future of your estate.
Around the Tax World October 24, 2024
In The Headlines -Amazon will be delivering something new this fall—your 2024 election news
What's New In The Tax World? The Trump campaign touts ten tax cut promises, not including the ongoing conversation about tariffs
State-By-State Updates Coloradans can vote on a number of tax-centric measures, including a tax increase to fund affordable housing.
Tax Planning Tips A proposal to fund Social Security benefits could mean a higher tax for high-income earners
Around the Tax World October 8, 2024
In The Headlines -Has Visa created a monopoly in the debit card market? The U.S. Department of Justice says it has.
What's New In The Tax World? -The presidential tax policy face-off continues: Harris turns her attention to manufacturing tax breaks while Trump continues his emphasis on tariffs
State-By-State Updates -Louisiana may see an automatic income tax cut in 2026.
Tax Planning Tips - Tax-sheltered savings accounts can provide a simple way to build wealth.
Around the Tax World – August 27, 2024
In The Headlines - Could Elon Musk be on the next presidential Cabinet?
What's New In The Tax World? - Harris and Trump disagree on corporate tax rates but agree on eliminating federal taxes on tips
State-By-State Updates - Colorado voters have a big decision to make: lower taxes or more affordable housing?
Tax Planning Tips -A higher child tax credit may be on the horizon for lower income families.
Around the Tax World – August 6, 2024
In The Headlines - Shares in gun manufacturers rose by as much as 10% in the aftermath of the Trump assassination attempt.
What's New In The Tax World? - Making up for lost taxes: the IRS collects $1 billion in back taxes from high-income taxpayers.
State-By-State Updates - Nebraska’s governor proposes a plan to bring in $1 billion in sales tax revenue.
Tax Planning Tips - The Supreme Court’s recent decision put an end to a business strategy to avoid estate tax.
Around the Tax World – July 23, 2024
In The Headlines - Shares in gun manufacturers rose by as much as 10% in the aftermath of the Trump assassination attempt.
What's New In The Tax World? - Making up for lost taxes: the IRS collects $1 billion in back taxes from high-income taxpayers.
State-By-State Updates - Nebraska’s governor proposes a plan to bring in $1 billion in sales tax revenue.
Tax Planning Tips - The Supreme Court’s recent decision put an end to a business strategy to avoid estate tax.
Around the Tax World – July 9, 2024
In The Headlines - Over 100,000 Americans lost access to their own funds due to the bankruptcy of banking-as-a-service platform Synapse.
What's New In The Tax World? - The IRS releases its final tax reporting rules for cryptocurrency
State-By-State Updates - Could rundown properties be subject to extra taxes in Georgia?
Tax Planning Tips - Will Biden’s corporate tax proposals make the cut?
Around the Tax World – June 25, 2024
In The Headlines - Boeing and Airbus are facing a federal investigation over the possible use of fake titanium.
What's New In The Tax World? - Partnerships must say goodbye to a tax loophole, while the IRS says hello to $50 billion in revenue.
State-By-State Updates - Illinois’ new $53.1 billion state budget is expected to bring in $1.2 billion in new tax revenue.
Tax Planning Tips - Struggling with skyrocketing property taxes? These states have seen a decrease over the past decade.
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CURRENT EDITION
Tax Research in an AI World
It has never been harder to do quality tax research than at any time in my 43-year career in tax accounting. In the 1980s, when I was part-time in the industry, there was no internet. Since I was part-time, I ordered Publications 1132, 17, and 334. The rest I found at the library. A few hearty souls might even remember when the post office had stacks of tax forms for the public. Once I went full-time for the 1989 tax season I needed more resources. CCH was my tool of choice. I still used IRS publications and the library. My handy reference guide of choice was, and still is, the QuickFinder. I never used TaxBook much, but it is another good resource for general answers. Then came the internet. The promise was that we would have the world at our fingertips. And for the large part we did, only we forgot some things we would rather keep at an arm’s length. The internet slowly allowed us to replace rooms in our office filled with tax guides and forms with online resources. Law offices and accounting firms often wrote tax articles on narrow tax subjects. Research was easier than ever.
Then came AI.
Trump Accounts Are Live. Are They Spectacular?
Trump Accounts (or § 530A accounts) went live via app on July 4, 2026. According to the Treasury Department, over six million accounts have been opened. As of Monday, July 6, 2026, parents and guardians of account beneficiaries could use the app to view their children’s accounts, fund the accounts, and access balances and financial education information. The Treasury Department designated BNY Mellon “as a financial agent of the U.S. government to support implementation of the new Trump Accounts program.” BNY, in partnership with Treasury, will manage the accounts and help to develop the app taxpayers can use to manage their accounts. Robinhood Securities, LLC is acting as the initial trustee and brokerage for the accounts.
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.
