If you are unsure of whether you are reporting your domain purchases and sales correctly:

The Domain Name Industry is growing, but is still a relatively young and small industry and hence has not yet gained the attention of the IRS, with no tax laws or tax court cases directly related to the domaining industry.

If you are unsure of whether you are reporting your domain purchases and sales correctly or you need to understand your core business and prepare a solid and defensible tax policy that is based on existing tax code for similar industries, consistent, and well documented, Sandra K. Brooks, CPA has recently released the text, which includes a comprehensive analysis of the tax issues surrounding the domains industry and step-by-step instructions for tax preparation for a domain business.

Recommended for easing your tax-time worries.