Tax and financial planning news from around the web: February 5 – 9, 2024

Severance tax filing deadline reminder 
The Ohio Department of Taxation is reminding all severance tax practitioners and taxpayers that the fourth quarter 2023 severance tax return and payment are due Feb. 15, 2024. Severance tax returns and payments are required to be submitted electronically via the Ohio Business Gateway.  

House passes bill to enhance child tax credit, revive key tax breaks for businesses 
The House accomplished something unusual Jan. 31 in passing with broad, bipartisan support a roughly $79 billion tax cut package that would enhance the child tax credit for millions of lower-income families and boost three tax breaks for businesses, a combination that gives lawmakers on both sides of the political aisle coveted policy wins.