By Jessica Salerno, OSCPA senior content manager
The new year will bring challenges for CPAs while they continue to address ongoing issues from 2021.
“There are a number of issues practitioners will have to deal with next year,” said Barb Benton, CAE, vice president of government relations at OSCPA.
Benton and Tom Zaino, J.D., CPA, managing member at Zaino Hall & Farrin, will offer a thorough rundown on this topic in December at OSCPA’s Mega Tax Conference. That session will include the legislative issues CPAs should know as they prepare their clients and businesses for 2022.
Municipal income tax is a hot topic, one that Benton said is confusing for many practitioners.
“There are many questions popping up in terms of what employers have to do, what employees need to know, how to handle withholding and refunds,” Benton said.
Another topic is the much-discussed vaccine and mask mandate issue, and a related qualified immunity provision for employers. While Ohio legislative leaders largely hit the pause button on vaccination and mask related bills due to a lack of consensus among legislators, they are being urged by the business community to take up unresolved concerns related to lawsuit immunity for businesses – an issue championed by The Ohio Society of CPAs and other business organizations. Qualified immunity for COVID-related issues had previously expired Sept. 30.
Another ongoing issue Benton anticipates CPAs will cover is the current rate of unemployment compensation fraud and how to deal with tax notices that will soon be sent out to all who received unemployment compensation in 2021 – including those who didn’t receive the money because of identity theft. A recent report from State Auditor Keith Faber’s office listed Ohio paying out $3.8 billion by mistake or because of fraud between April 2020 and June of this year.
“There is a lot we need to cover for our members to be prepared,” Benton said.