This article examines a new area of tax and addresses the tax implications of domain names and how domain name owners, especially those with large portfolios, and should they be included on tax returns in the USA. No doubt there will be corollaries with other jurisdictions. Issues addressed include how purchases are accounted for, registrations and sales are also examined. The article quotes a guide by a CPA called “The Domain Tax Guide, 2007 Edition”. Issues the guide covers are there is only one reference to domain names by the IRS; domains can be classified as capital assets or business assets and the implications; how to organise a domain name business; how does a domainer do their tax return; the difference between domain registration and purchase fees and how to account for them; what is the useful life of a domain and how is this important; and what deductions can be made.