Maryland’s first-in-the-nation digital ad tax, once projected to raise $250 million annually for education, has yielded far less and faces multiple constitutional challenges. A federal court ruling deemed its disclosure ban unconstitutional, raising refund risks and fiscal uncertainty.

Trump Accounts, introduced in the 2025 “One Big Beautiful Bill,” offer newborns $1,000 in government-seeded savings accounts for births between 2025–2028. Families can contribute up to $5,000 yearly with tax-free growth and flexible future-use options.

President Trump paused trade talks with Canada over its digital services tax, calling it a threat to U.S. interests. Canada withdrew the tax to restart negotiations. Broader global tax reform remains uncertain, as key international agreements face political hurdles.

NIL deals offer student-athletes new income—but also tax obligations. Smith lecturer Samuel Handwerger explains how earnings are taxed, what to watch for, and why planning, record-keeping and resources like TerpTax are key to staying financially and legally safe.

Interns misclassified as independent contractors can face unexpected tax burdens and loss of protections. Samuel Handwerger advises students to clarify work terms, consider negotiating pay, and understand the financial responsibilities tied to independent contractor status.

University of Maryland students in the Justice for Fraud Victims Project aided police in a high-profile murder case, analyzing financial records to help establish motive. Their work contributed to a first-degree murder conviction and life sentence.

Get ready for summer with the 22nd Annual Summer Reading List for Business Leaders—featuring Smith School faculty picks on investing, neuroscience, human connection, and more, including a novel inspired by a radio show turned TV series.

Samuel Handwerger, CPA and TerpTax faculty advisor, explains how victims of investment scams may qualify for theft loss tax deductions under IRS rules. He outlines key eligibility criteria, recent IRS guidance, and the importance of intent, documentation, and expert advice.

By Samuel Handwerger, CPA, Faculty Advisor for TerpTax

The University of Maryland’s new Financial Wellness Center empowers students with financial literacy through peer mentoring, classes, and events. Led by the Smith School, it centralizes resources on budgeting, investing, and financial planning, preparing students for real-world financial decisions with confidence.