OSCPA testifies in support of tax conformity

OSCPA staff report 

OSCPA offered proponent testimony before the Senate Ways and Means Committee on Tuesday for Senate Bill 10, the annual federal/state tax conformity legislation.    

Greg Saul, director of tax policy for The Ohio Society of CPAs, spoke before the committee, stating that OSCPA has advocated for tax simplicity for years and S.B. 10 can help in that effort.   

“If enacted, S.B. 10 will incorporate federal tax provisions that were enacted as part of the Inflation Reduction Act (H.R. 5376) signed on August 16, 2022, and the Consolidated Appropriations Act, 2023 (H.R. 2617) signed on December 29, 2022.  

We also strongly support the emergency clause given that the normal 90-day effective date for legislation would already occur after the current tax deadline of April 18. The OSCPA has traditionally supported legislation incorporating federal tax law changes into the Ohio Revised Code to bring conformity to most federal and state tax calculations. S.B. 10 is no exception.”  

Saul said unless the Ohio General Assembly and the Governor again amend the Ohio Revised Code, many taxpayers will have to make “add-backs” on their 2022 income tax returns. Read his complete testimony here.