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Tax and financial planning news from around the web: May 30 – June 3, 2022

Written on May 31, 2022

DOT releases revised Commercial Activity Tax explanation 
The Ohio Department of Taxation has revised its explanation of the commercial activity tax and the order in which credits must be claimed. This update reflects recent revisions to Ohio Administrative Code 5703-29-22. The revised rule is final and effective as of May 28, 2022.  

IRS interest rates increase for the third quarter of 2022 
The IRS has announced that interest rates will increase for the calendar quarter beginning July 1, 2022.