Tax

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

A letter sent in late November to the IRS detailed how an IRS shutdown during the tax filing season would harm taxpayers and tax practitioners. The letter also outlines recommendations to the IRS that could mitigate the long-term effects of a shutdown.

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

Tax teams are gearing up for busy season, and the right mindset and prep ahead of time can help ensure success.

Dec 21, 2023, 00:00 AM by Jessica Salerno Shumaker

Recordings of the most recent Ohio Virtual Tax Academy event are now available ahead of the 2024 tax season.

Dec 21, 2023, 00:00 AM by Jessica Salerno Shumaker

The Department of Treasury and the IRS have issued Notice 2024-10 to provide additional interim guidance on the new corporate alternative minimum tax (CAMT).

Dec 15, 2023, 00:00 AM by Jessica Salerno Shumaker

The Commercial Activity Tax will undergo major changes on Jan. 1, 2024, and again on Jan. 1, 2025. Annual and quarterly CAT taxpayers who anticipate having less than $3 million in taxable gross receipts in tax year 2024, should act now and cancel their CAT account immediately with an effective date of Dec. 31, 2023.

Dec 15, 2023, 00:00 AM by Jessica Salerno Shumaker

The Ohio Department of Taxation has issued a new information release that details changes to certified mail procedures that will become effective Jan. 1, 2024.

Dec 15, 2023, 00:00 AM by Jessica Salerno Shumaker

The IRS is disallowing claims to entities that did not exist or did not have paid employees during the period of eligibility to prevent improper ERC payments from being made to ineligible entities.

Dec 14, 2023, 00:00 AM by Jessica Salerno Shumaker

Tax updates keep the profession on its toes and this year was no different.

Dec 8, 2023, 00:00 AM by Jessica Salerno Shumaker

A few members recently contacted OSCPA and said that the Ohio Department of Taxation has begun sending notices to taxpayers who are investors in electing pass-through entities – those who filed the IT 4738.

Dec 7, 2023, 00:00 AM by Jessica Salerno Shumaker

It can be difficult to keep up with changing tax legislation, but it’s critical for practitioners looking to serve as the best advisers to their clients.

May 26, 2023, 11:54 AM 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.

May 26, 2023, 11:53 AM by Suzanne McCann-Perry

A number of OSCPA legislative priorities continue to move through the Ohio legislature, including House Bill 105—a measure that would limit notices and late filing penalties under R.C. 718.27.

Dec 11, 2022, 11:00 AM by SEO National

With new and more efficient technologies simplifying the accounting process, tax duties are shifting to a proactive instead of reactive approach with clients.

Dec 2, 2022, 13:53 PM by Jessica Salerno Shumaker

Attend the Summary and Analysis of the Inflation Reduction Act of 2022 on Sept. 26 to learn more.

Aug 11, 2022, 12:28 PM by Sonya Guthrie

Cybersecurity is essential for everyone, but it’s also unique to the individual, said one security expert. “One of the areas of confusion for cybersecurity is that it’s one size fits all,” said Jake Nix, founder & CEO of RISCPoint at the Aug. 4 OSCPA Town Hall. “And realistically, cybersecurity means different things to different organizations.”

Jul 29, 2022, 10:39 AM by Suzanne McCann-Perry

Democrats may be shocked by the last-minute tax deal announced by Sen. Joe Manchin and Majority Leader Chuck Schumer, but it is nevertheless a far cry from the sprawling slate of tax increases they had once hoped to approve.

Jul 29, 2022, 10:35 AM by Suzanne McCann-Perry

OSCPA plans to file an amicus brief on Aug. 15 to support taxpayers in their efforts to obtain 2020 refunds based on the Society's position that taxing persons who neither work nor live in a jurisdiction is unconstitutional.

Mar 20, 2022, 20:50 PM by User Not Found

In case you missed them, here are some recent interesting tax news items from around the web.

Mar 20, 2022, 20:48 PM by User Not Found

Taxpayers can still speak with a telephone representative if needed.

Feb 4, 2022, 11:00 AM by SEO National

Make plans to use your downtime in the slower months to take online Ohio CPE courses to grow your knowledge. Read on some tips for surviving tax season.