Terranova has two stories about Second Life: firstly that the US taxman may seek to tax trades within the virtual world (not just outside it, eg selling game currency on EBay), and secondly that Linden Labs may pay compensation to some owners after their virtual real estate lost value.
The taxman story hasnt happened yet, its just the opinion of expert tax advisers. But you have to wonder how the tax authorities would monitor the transactions within Second Life… virtual tax returns, or something automatic?
Some land in Second Life is easier to access than others, but a change in the virtual worlds design has altered the balance of advantage. So, people who run businesses in Second Life are claiming sums of up to $25,000 in compensation.
Less and less like Utopia.
Perhaps people could just simulate paying their taxes?