The opening day for filing 2021 Ohio individual income tax or school district income tax return is Jan. 24 — the same date the IRS will begin accepting 2021 federal income tax returns.
Tax Commissioner Jeff McClain said Ohio taxpayers will find a few new changes that could impact the preparation of the state income tax return. Among those:
Tax rates for all Ohio taxpayers have been reduced: those with taxable nonbusiness income of $25,000 or less will pay no income tax; the tax rate on nonbusiness income of more than $110,650 is now 3.99%, down from the previous top rate of 4.797%, while all other tax rates have been cut by 3.0%.
To better reflect the purpose, Schedule A is now called Ohio Schedule of Adjustments; Schedule J is now called Ohio Schedule of Dependents.
Three new education tax credits are available to eligible taxpayers: for donating to a scholarship granting organization, for homeschool expenses, and for tuition to a non-chartered, non-public school.
For the fastest processing available, the DOT recommends taxpayers submit returns electronically using I-File, or file using a commercial software product or tax preparer. Paper returns take much longer to process than returns filed electronically. More than 92% of all Ohio individual and school district income tax returns filed last year were filed electronically.
The deadline for filing both Ohio and federal tax returns is April 18. Remember: a request for a filing extension does not extend the payment due date.
Those with additional questions or needing assistance with an Ohio return should visit tax.ohio.gov/emailus or call the taxpayer assistance line at 800.282.1780.