• Week in Review: July 21, 2024

    Jul 19, 2024, 00:00 by Jessica Salerno Shumaker
    The BWC announced Wednesday that registration has opened for the free, virtual Medical and Health Symposium it will host from Wednesday, Nov. 13 through Friday, Nov. 15.
    Full story
  • May revenues on target; Underspending exceeds FY24 shortfall

    Jun 14, 2024, 00:00 by Sonya Guthrie
    Tax revenues were back on target in May after a slide over the past several months that turned a $200 million-plus overage into a $400 million-plus shortfall in collections, according to preliminary figures from the Office of Budget and Management (OBM). Year-to-date underspending, however, far exceeds any revenue shortfalls.
    Full story
  • Mandatory overtime pay rule is slated to take effect July 1; OSCPA working to delay implementation

    Jun 14, 2024, 00:00 by Sonya Guthrie
    As previously reported by OSCPA, The Wage and House Division of the U.S. Department of Labor has adopted a rule that will increase the level of income below which employers must pay overtime.
    Full story
  • ODT to hold CAUV public hearing virtually on July 12

    Jun 14, 2024, 00:00 by Sonya Guthrie
    The Ohio Department of Taxation is holding a public hearing to present and hear comments on the proposed current agricultural use values (CAUV) for tax year 2024 on July 12 at 10:30 a.m.
    Full story
  • Politicos on the Move: Jun. 16, 2024

    Jun 14, 2024, 00:00 by Sonya Guthrie
    Sen. Michael Rulli was elected to Congress in a special election earlier this month, replacing former U.S. Rep. Bill Johnson who resigned to accept his new role as president of Youngstown State University.
    Full story
  • Week in Review: June 16, 2024

    Jun 14, 2024, 00:00 by Sonya Guthrie
    Months after the House adopted a project wish list for the one-time capital funding pool established in the biennial budget, the Senate introduced SB288 (Dolan) on Monday that includes a plan for all $700 million set aside in HB33 (Edwards).
    Full story
  • Ohio Expands 2024 Sales Tax Holiday

    Jun 7, 2024, 00:00 by Sonya Guthrie
    Governor Mike DeWine on May 31 announced the 2024 expanded Sales Tax Holiday will take place from 12:00 a.m. Tuesday, July 30 until 11:59 p.m. Thursday, August 8. In conjunction with the Ohio General Assembly, Governor DeWine expanded the length of Ohio’s Sales Tax holiday to 10 days and will allow tax-free purchases made in-person or online on all eligible items of up to $500.
    Full story
  • IRS, ODT, OBG make announcements

    Jun 7, 2024, 00:00 by Sonya Guthrie
    New Ohio Employer Withholding Rates: The Ohio Department of Taxation has issued new employer withholding tables for payrolls that end on or after July 1, 2024. The new tables include the income tax rate reductions that went into effect when House Bill 33 (135th General Assembly) was signed into law on July 4, 2023.
    Full story
  • Week in Review: June 9, 2024

    Jun 7, 2024, 00:00 by Sonya Guthrie
    Tax revenues were back on target in May after a slide over the past several months that turned a $200 million-plus overage into a $400 million-plus shortfall in collections, according to preliminary figures from the Office of Budget and Management (OBM).
    Full story
  • FTC bans noncompete agreements

    May 10, 2024, 02:00 by Natalie Rooney
    The Federal Trade Commission (FTC) issued its final rule on April 23 banning virtually all noncompete agreements covering workers in the United States. Absent a successful court challenge, the rule will go into effect Sept. 4, 2024.
    Full story
  • OSCPA signs onto letter urging DOL to delay implementation of new overtime final rule

    May 10, 2024, 02:00 by Natalie Rooney
    On May 9, the Partnership to Protect Workplace Opportunity, of which OSCPA is a member, sent a letter to the Department of Labor urging them to delay until at least Sept. 1, 2024, the first increase to the minimum salary threshold under the DOL’s new overtime final rule.
    Full story
  • GR team hosts guest speakers during Advance sessions

    May 10, 2024, 02:00 by Natalie Rooney
    The Ohio Society of CPAs government relations team has already hosted three guest speakers during the live portion of the Advance sessions, with one more still on tap for May 14.
    Full story
  • State CPA Societies seek to join Ohio in possible alternatives to 150-hour licensure requirement

    May 3, 2024, 00:00 by Natalie Rooney
    Around the country at the state and national levels, discussions continue to take place about potential licensure improvements that will achieve the collective goal of increasing the number of licensed CPAs entering the accounting profession and increasing the number of experienced CPAs who stay in the accounting profession.
    Full story
  • Property Tax Review Committee meets on back-to-back weeks

    May 3, 2024, 00:00 by Natalie Rooney
    As the Joint Committee on Property Tax Review and Reform looks at potential solutions to rising property taxes around the state, one witness told the committee on April 24 that decoupling property taxes from the Fair School Funding Plan "may have very bad consequences," a notion backed by Ohio school officials.
    Full story
  • Accountancy Board meeting addresses “CPA Retired” status, CPE reporting concerns

    May 3, 2024, 00:00 by Natalie Rooney
    The Accountancy Board of Ohio (ABO), the state government entity charged with licensing, regulating, and when necessary, disciplining CPAs, can significantly affect the practice of all CPAs. That is why OSCPA represents the profession at every ABO meeting and advocates for best-practice rulemaking. This meeting included a variety of topics.
    Full story
  • Politicos on the Move: May 5, 2024

    May 3, 2024, 00:00 by Natalie Rooney
    Last week in House session, the Democrats selected Rep. Dani Isaacsohn (D-Cincinnati) as their new minority whip, following the departure of Rep. Jessica Miranda to become Hamilton County auditor in the wake of former Rep. Brigid Kelly’s death.
    Full story
  • Week in Review: May 5, 2024

    May 3, 2024, 00:00 by Natalie Rooney
    Gov. Mike DeWine and Ohio Department of Development Director Lydia Mihalik Wednesday announced the awarding of more than $154 million in grants to fund economic development projects in Ohio's Appalachian region as they made stops in McArthur and Chillicothe.
    Full story
  • OSCPA asks legislators to support bills designating accounting as STEM field

    May 2, 2024, 00:00 by Natalie Rooney
    OSCPA reached out directly last week to Ohio’s 15 members of the U.S. House of Representatives and two U.S. senators to ask them to support legislation that incorporates accounting education into the STEM curricula for K-12 students. This effort is part of OSCPA’s broader goal of increasing the pipeline of future Ohio CPAs.
    Full story
  • Supreme Court denies 2020 municipal income tax refunds

    Feb 14, 2024, 15:46 by Suzanne McCann-Perry
    The Ohio Supreme Court today issued a 5-2 decision in the Schaad v. Alder case, Slip Opinion No. 2024-Ohio-525, effectively denying impacted Ohio taxpayers from seeking a refund of municipal income tax paid to a municipality where they neither work nor live.
    Full story
  • Sen. Brown backs measure to raise 1099-K reporting threshold

    May 26, 2023, 11:54 by Suzanne McCann-Perry
    Senators Sherrod Brown, D-Ohio, and Bill Cassidy, R-Louisiana, are proposing to raise the reporting threshold on transactions from companies such as Airbnb, eBay, Etsy, PayPal and Venmo from $600 to $10,000 to save headaches for small businesses and individuals who work in the gig economy.
    Full story