Tax

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

While Mr. B teaches kids their ABCs, this week he’s bringing updates on Beneficial Ownership Information and the Ohio Bureau of Workers’ Compensation.

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

Ohio was recently ranked fifth-highest among states for taxpayer return on investment by personal finance site WalletHub, leading all neighboring states.

Jul 19, 2024, 00:00 AM by Jessica Barboza

Ohio's upcoming 10-day sales-tax holiday will include restaurant meals for the first time.

Jul 19, 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.

Jul 17, 2024, 00:00 AM by Jessica Salerno Shumaker

Last summer, the Ohio Department of Taxation launched Project NextGEN to replace the current systems that administer Ohio’s individual and school district income taxes. The new system is scheduled to go-live on Sept. 5, 2023, and will provide a “banking experience” for taxpayers and tax professionals.

Jul 12, 2024, 00:00 AM by Jessica Salerno Shumaker

Despite lagging tax revenues, investment earnings and underspending helped Ohio end the fiscal year with a $1.1 billion balance.

Jun 21, 2024, 02:00 AM by Natalie Rooney

The Ohio Department of Taxation has proposed several rules for the administration of the adult use cannabis tax.

Jun 21, 2024, 02:00 AM by Natalie Rooney

The Ohio Department of Development (DOD) recently announced the release of the program application for the July 2024 round of the Ohio Opportunity Zones Tax Credit.

May 17, 2024, 02:00 AM by Natalie Rooney

The IRS announced on May 16 tax relief for individuals and businesses in Ohio that were affected by tornadoes that began on March 14, 2024.

May 10, 2024, 02:00 AM by Natalie Rooney

The Ohio Department of Taxation is offering its Ohio Virtual Tax Academy, a free event designed to provide tax-related information to small business owners, attorneys and accountants.

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.

Apr 19, 2024, 00:00 AM by 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.

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

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.

Mar 8, 2024, 00:00 AM by Jessica Salerno Shumaker

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.

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

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.

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

It’s the season for IRS ERC exam. Have you or your clients heeded all the warnings and lifelines that the IRS has provided?

Feb 16, 2024, 00:00 AM by Jessica Salerno Shumaker

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.

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.

Feb 9, 2024, 00:00 AM by Jessica Salerno Shumaker

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.

Feb 9, 2024, 00:00 AM by Jessica Salerno Shumaker

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.