Tax

Jan 10, 2025, 00:00 AM by Jessica Barboza

The Department of the Treasury and the IRS have issued proposed regulations to update the rules for certain tax professionals who can practice before the IRS. These rules are contained in Treasury Department Circular 230.

Jan 10, 2025, 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.

Jan 9, 2025, 00:00 AM by Jessica Salerno Shumaker

As I write my last CEO letter as President and CEO of The Ohio Society of CPAs, I am filled with a deep sense of gratitude and pride. It has been an incredible journey, and I am honored to have had the opportunity to lead such a dedicated and talented group of professionals.

Dec 20, 2024, 00:00 AM by Jessica Salerno Shumaker

Effective Jan. 1, 2025, the annual exclusion amount for business increases from $3 million to $6 million. If your taxable gross receipts are $6 million or less, you will not have to pay the tax.

Dec 6, 2024, 00:00 AM by Jessica Salerno Shumaker

The second phase of OH | Tax eServices will allow taxpayers to file more types of returns, including sales/use, public utility and personal property among others.

Dec 5, 2024, 00:00 AM by Jessica Salerno Shumaker

The former Ohio Tax Commissioner offered this advice to CPAs on tax developments in the new year: be prepared for anything.

Nov 22, 2024, 00:00 AM by Jessica Salerno Shumaker

Ohio Business Gateway users only have one more week to act before Dec. 2 – that’s when multi-factor authentication becomes an OH/ID login requirement for the OBG.

Nov 15, 2024, 00:00 AM by Jessica Salerno Shumaker

Ohio Business Gateway users only have two more weeks to act before Dec. 2 – that’s when multi-factor authentication becomes an OH/ID login requirement for the OBG.

Nov 14, 2024, 00:00 AM by Jessica Salerno Shumaker

Variances in major tax sources balanced out to an on-target revenue haul in October, according to preliminary figures from the Ohio Office of Budget and Management.

Nov 1, 2024, 00:00 AM by Jessica Salerno Shumaker

ODT recently informed OSCPA that a small number of taxpayers received refunds or increases to credit carryforward amounts that should not have occurred.

Nov 1, 2024, 00:00 AM by Jessica Salerno Shumaker

If you haven’t cast your vote yet for the 2024 General Election, your last chance to do so is this Tuesday.

Oct 31, 2024, 00:00 AM by Jessica Salerno Shumaker

This year’s conference covers some of the most vital topics in the area of taxation including highlighting recent tax decisions, handling tax controversies, TCJA sunset provisions, market and economy considerations in an election year, and much more.

Oct 18, 2024, 00:00 AM by Jessica Salerno Shumaker

This update will let taxpayers file more types of returns, including sales, public utility personal property, employer and school district withholding, adult use cannabis, public utility excise, and natural gas excise taxes.

Oct 11, 2024, 00:00 AM by Jessica Salerno Shumaker

Specifically, the state finished September with $2.1 billion, $547.1 million or 36 percent over the updated estimate for the month. The estimated revenue for September had been $1.5 billion.

Oct 10, 2024, 00:00 AM by Jessica Salerno Shumaker

OSCPA members have until Dec. 2 before multi-factor authentication becomes an OH/ID login requirement for the OBG. Those practitioners who do not request user access and add their clients before Dec. 2 could lose access to filing and paying in the OBG for their clients.

Oct 4, 2024, 00:00 AM by Jessica Salerno Shumaker

The Federal Reserve for the first time in four years cut the interest rate by 0.5 percentage points last month, which could not only stimulate the broader economy but also affect state budgets going forward, including Ohio’s.

Sep 27, 2024, 00:00 AM by Jessica Salerno Shumaker

The Ohio Department of Administrative Services recently shared with OSCPA that through Sept. 16 only 35% of current OH/ID users have completed required Ohio Business Gateway actions prior to an upcoming deadline.

Sep 20, 2024, 00:00 AM by Jessica Salerno Shumaker

Everything is at stake when it comes to federal tax legislation for the upcoming election, according to one tax expert.

Sep 19, 2024, 00:00 AM by Jessica Salerno Shumaker

The pandemic caused a significant increase in hiring remote workers and that means more tax considerations for businesses.

Sep 13, 2024, 00:00 AM by Jessica Salerno Shumaker

Newly updated revenue forecasts for FY25 were close to the mark in August, with tax collections netting about half a percent more than expected, according to the OBM.