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Tax and financial planning news from around the web: February 20 – 24, 2023

Written on Feb 24, 2023

Ohio Senate takes steps to marry state, federal tax codes 
Business owners and farmers will receive a two-year extension on losses for tax purposes after the Ohio Senate took the first step in consolidating federal and state tax law. 

IRS says state-issued stimulus payments are not taxable 
The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.