AROUND THE TAX WORLD

In The Headlines – One of the most successful businesses of 2023 is… Taylor Swift.

What’s New In The Tax World? – Popular electric vehicles may fall out of favor in 2024 without the help of the EV tax credit

State-By-State Updates -California’s climate programs may have one adverse side-effect—$6 billion in lost gas tax revenue.

Tax Planning Tips – New guidance on the Clean Hydrogen Production Tax Credit is finally being released… but is this good news or bad news?

In The Headlines – AI-generated fake reviews are taking a toll on the tourism industry—and Exceptional Alien is fighting back with the help of celebrity investors.

What’s New In The Tax World? – The fate of a potential “wealth tax” rests on a current Supreme Court case

State-By-State Updates -Georgia’s Republican lawmakers want to speed up state tax cuts.

Tax Planning Tips – Looking to save on taxes next year? Lose the money market funds and consider municipal money market funds and Treasury bills instead.

In The Headlines – Ryan Gosling is the most popular celebrity—among internet scammers, according to cybersecurity software company McAfee.

What’s New In The Tax World? – U.S. lawmakers continue to push for changes to the tax rules on EV credits and cryptocurrency taxation

State-By-State Updates -Overtime just got more exciting in Alabama, which has officially eliminated state taxes on overtime pay.

Tax Planning Tips – Service members can opt into a new tax benefit—the Dependent Care Flexible Spending Account (DCFSA).

In The Headlines – What do Selena Gomez, Kim Kardashian, Rihanna, and Reese Witherspoon have in common?

What’s New In The Tax World? – House Republicans propose a $14 billion reduction in the IRS’ budget to fund aid to Israel

State-By-State Updates -Alabama residents will see a little income boost through a round of tax rebates.

Tax Planning Tips – The IRS’ latest mission: hunting down $1 trillion lost to overseas tax havens.

In The Headlines – Not liking Louis Vuitton’s men’s line this year? Blame Pharrell.

What’s New In The Tax World? – A new Supreme Court case questions whether a couple’s $15,000 tax bill is unconstitutional

State-By-State Updates -Californians are getting an extended deadline for federal and state taxes.

Tax Planning Tips – The IRS is piloting its free tax-filing platform in 13 U.S. states.

In The Headlines – The Hollywood writers strike has ended, but the actors aren’t back just yet

What’s New In The Tax World? – An IRS contractor has been charged with leaking tax information belonging to Donald Trump and thousands of other wealthy taxpayers.

State-By-State Updates -Arizona cities are encouraging new housing developments by offering major tax breaks.

Tax Planning Tips – Can TikTok be your tax advisor? Tax professionals are warning about the dangers of misinformation on social media.

In The Headlines – Want to chat with your favorite celebrity? A new startup is introducing celebrity “AI clones” that allow users to engage in simulated dialogue with well-known online personalities.

What’s New In The Tax World? – Could the end of the expanded Child Tax Credit be the reason for the recent rise in child poverty?

State-By-State Updates -Maryland ends its fiscal year with leftover cash, the result of a 5% increase in tax revenue.

Tax Planning Tips – Roth IRA conversions can reduce taxes in retirement—but taxpayers need to consider these factors before making the leap.