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May 2, 2024, 00:00 AM
by
Jessica Barboza
The Department of Treasury and IRS have issued final regulations describing rules and definitions for the transfer of eligible credits in a taxable year, including specific rules for partnerships and S corporations.
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May 2, 2024, 00:00 AM
by
Jessica Barboza
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Apr 25, 2024, 00:00 AM
by
Jessica Barboza
A new law requires many companies doing business in the United States to report information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) about who ultimately owns or controls them. Join a FinCEN representative on April 30 at 2pm for a virtual information session on beneficial ownership information reporting requirements and how to comply with the law.
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Apr 25, 2024, 00:00 AM
by
Jessica Barboza
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Apr 19, 2024, 00:00 AM
by
Natalie Rooney
The Ohio Department of Taxation (ODT) this week explained why some taxpayers may have received 2023 non-payment notices prior to April 15.
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Apr 19, 2024, 00:00 AM
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Natalie Rooney
The share of taxpayers who get money back at tax time is slowly and, a little mysteriously, shrinking. At the same time, the number of people having to cut a check to the government has been rising. Some tax vets wonder what a decline in refunds will mean for tax compliance.
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Apr 17, 2024, 00:00 AM
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Cecilia Yontz
The Department of the Treasury and the IRS have issued proposed regulations that would provide taxpayers and tax professionals with new guidance concerning the one percent excise tax owed on corporate stock repurchases.
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Apr 17, 2024, 00:00 AM
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Cecilia Yontz
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Apr 12, 2024, 00:00 AM
by
Cecilia Yontz
The IRS is changing the way it sends tax transcripts for clients to tax professionals to improve security.
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Apr 12, 2024, 00:00 AM
by
Cecilia Yontz
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Apr 3, 2024, 00:00 AM
by
Cecilia Yontz
Ohio received 0.38% of its tax revenue from sports betting in the third quarter of 2023.
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Apr 3, 2024, 00:00 AM
by
Cecilia Yontz
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Mar 15, 2024, 00:00 AM
by
Jessica Salerno
State tax revenues ran nearly 2% ahead of expectations in February and are just about on target for the fiscal year so far, according to preliminary revenue data from the Office of Budget and Management.
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Mar 8, 2024, 00:00 AM
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Jessica Salerno
The Ohio Department of Taxation issued a new information release for the municipal net profit tax to advise taxpayers and municipalities of recent legislative changes made by Am. Sub. H.B. 33 related to the municipal net profit tax as administered by the ODT.
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Mar 1, 2024, 00:00 AM
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Jessica Salerno
A veteran of Ohio tax administration told the General Assembly’s property tax study panel Wednesday that the flagship policy for preventing spikes in tax bills no longer works well.
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Feb 20, 2024, 00:00 AM
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Jessica Salerno
It’s the season for IRS ERC exam. Have you or your clients heeded all the warnings and lifelines that the IRS has provided?
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Feb 16, 2024, 00:00 AM
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Jessica Salerno
An ODT updated information release has been issued to clarify whether a consolidated elected taxpayer or combined taxpayer group must register and pay the commercial activity tax when total taxable gross receipts fall below certain thresholds.
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Feb 14, 2024, 15:46 PM
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.
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Feb 9, 2024, 00:00 AM
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Jessica Salerno
The oral arguments in the Schaad v. Alder case were held nearly one year ago on March 1, 2023. While we still await the Ohio Supreme Court’s decision determining whether taxpayers can obtain 2020 municipal income tax refunds, members can attend an upcoming municipal income tax symposium.
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Feb 9, 2024, 00:00 AM
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Jessica Salerno
Tax revenues are down about half a percent for the fiscal year so far after another underperformance in January, but the overall revenue picture and sizable underspending leave Ohio’s budget on solid footing.
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