Most magical place; Amazon warehouses; paper or plastic; and other highlights from our favorite tax bloggers.
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If you make it here …
Taxbuzz : New York City Mayor Zohran Mamdani released his latest tax returns, showing he and his wife earned just under $145,000 combined in 2025, a relatively modest income for a high-profile political figure leading aggressive tax-the-rich proposals. The disclosure comes as Mamdani continues to advocate for higher taxes on wealthy residents and corporations in New York.Sagenext : Disney’s zero tax achievement wasn’t magic — it was strategic financial planning combined with legitimate tax optimization techniques. The company leveraged accelerated depreciation and strategic timing of income and expenses to minimize their federal tax obligation. The foundation of Disney’s approach centers on three core principles that small businesses can adopt.Dean Dorton : Congress has officially extended funding for the Small Business Innovation Research and Small Business Technology Transfer programs — a welcome development for early‑stage life science companies relying on non‑dilutive capital to advance research and development.Taxable Talk : Every year clients ask: “I paid my tax via IRS Direct Pay (or you had my account debited). Why hasn’t my payment come out yet?” The answer to this question is simple, and there’s nothing your tax professional can do about it. The IRS can only handle so many debits a day, so many payments made for April 15 will happen in the days following April 15.
Unconstitutional tariffs
Withum : It’s finally time for importers to take the first step in claiming IEEPA tariff refunds. This long-awaited move forward comes after the U.S. Supreme Court deemed IEEPA tariffs imposed by President Trump unconstitutional and the Court of International Trade issued a ruling for Customs and Border Protection to refund duties imposed under IEEPA tariffs to Importers of Record.CBIZ : On April 20, the Trump administration officially began the automated process of returning more than $166 billion in IEEPA tariffs struck down by the U.S. Supreme Court in February.The Tax Times : A Texas federal judge has delivered a major win to the microcaptive industry in Drake Plastics Ltd. Co. et al. v. IRS et al., in the U.S. District Court for the Southern District of Texas, vacating the IRS’s latest attempt to treat a broad swath of Sec. 831(b) arrangements as “listed transactions” subject to the harshest reporting regime and penalties in the Code.Intuit Turbotax : Missing the tax deadline doesn’t mean you’re out of options. You can still file your return. If the IRS owes you a refund, you won’t be charged with a late filing penalty, but you won’t get your refund until you file. Filing your return now halts certain penalties from increasing.
Deep-pocketed tech invesors
ITEP : Policymakers in Maine and Oregon wisely said “No” last week to an income tax break for deep-pocketed tech investors and venture capitalists that was expanded in last year’s federal tax bill.Yeo and Yeo : In some workplaces, employees stay late — not to finish pressing company projects but to use their employers’ resources to pursue unauthorized side work. These workers might use their employers’ equipment and materials, not to mention running up utilities costs. Although side jobs may seem benign relative to outright theft, they can be costly in ways you might not have imagined.Taxnotes : In this post, Nina Olson, executive director of the Center for Taxpayer Rights, reports on recently obtained IRS telephone data and the results of a phone-testing project the CTR conducted during this filing season.Vertex : Accurate tax calculation is foundational — but in modern SAP environments, risk often emerges after determination across testing, reconciliation and compliance processes.Hall CPA : A Delaware statutory trust is a legal entity, specifically a trust under Delaware law, that holds title to real property. It is set up as a “passive” entity that owns large institutional real estate. A common DST that many investors explore is Amazon warehouses, for example.
‘Upside down’ tax breaks
Tax Vox : Persistent income and wealth gaps are shaped by tax policy choices, including “upside down” tax breaks for homeownership, retirement savings or business investments. But traditional tax analyses focus on how a policy changes people’s income in a given year and may not consider the historical arc or the context outside of taxes.Taxjar : Many businesses treat compliance as a back-office function, a matter for spreadsheets, filing deadlines and accounting software. It’s often relegated to the finance department with the assumption that as long as we aren’t being audited, we’re doing fine.Eide Bailly : Artificial intelligence has quickly become part of everyday business. It’s embedded in the tools organizations already rely on and it’s raising expectations across every function. The real question isn’t whether to use AI. It’s how to use it in a way that delivers real business value.
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