One Wrong Tax Status: Thousands Gone
3-minute read.
In today's newsletter:
- This one tax box can destroy your refund
- Texas University blocks Shein on campus Wi-Fi
- Oil stocks break records
- Apple’s App Store tax drops to 25% in China
- One more thing: AI startup says its CEO forged signatures and sold $1.2M in stock
This One Tax Box Can Destroy Your Refund
With one month until the April 15, 2026 U.S. tax deadline, tax experts warned that choosing the wrong filing status could cost taxpayers thousands.
The IRS allows Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualifying Surviving Spouse.
A common mistake is claiming Head of Household without qualifying, which can lead to smaller refunds, higher tax bills, or IRS penalties.
The IRS expects about 160 million Americans to file returns in 2026.
Texas University Blocks Shein on Campus Wi-Fi
The University of Texas at Austin blocked the retailer Shein on campus Wi-Fi after a security directive from Texas Governor Greg Abbott banning several Chinese-owned companies from state networks.
Texas officials say the policy is meant to reduce cybersecurity risks tied to Chinese firms.
The list also includes Alibaba Group and Temu, and also targets apps like TikTok.
Students can still access Shein using cellular data.
Apple’s App Store Tax Drops to 25% in China
Apple lowered its App Store commission in China from 30% to 25% on March 15, 2026. The change applies to paid apps and in-app purchases.
Developers in Apple’s Small Business Program also saw fees drop from 15% to 12%. The move follows pressure from Chinese regulators pushing large tech platforms to reduce fees.
The change could save developers billions of yuan each year, including U.S. companies like Duolingo.
For example, if an app makes $100 million in China, Apple used to take $30 million, but will now take $25 million, leaving the developer $5 million more revenue.
Oil Stocks Break Records
Shares of ExxonMobil and Chevron hit record highs as the war involving Iran disrupted global oil supply. ExxonMobil reached about $630 billion in market value and Chevron about $390 billion.
Analysts say the conflict may be causing the largest oil supply disruption in history, with shipping routes near the Strait of Hormuz affected.
Oil prices jumped above $100 per barrel, which usually boosts oil company profits.
Investors rushed into energy stocks, pushing ExxonMobil and Chevron to record valuations.
AI Startup Says Its CEO Forged Signatures and Sold $1.2M in Stock:
A $2.7 million house, 41GB of company data, and a rival AI startup later, the lawsuit began.
Disclaimer: This newsletter is for informational purposes only. Details may change or come from third-party sources; always do your own research and consult a qualified professional before making decisions.
