Small business owners experienced tax relief on many fronts with the passage of the Tax Cuts and Jobs Act (TCJA) in 2017. But many of the benefits, including the valuable Small Business Deduction, are scheduled to expire after Dec. 31, 2025, absent Congressional action.
Apr 25, 2019, 10:52 AM
by
Jessica Salerno Shumaker
Ohio businesses with a taxable year that begins on March 1 that want to file their 2019 municipal net profit tax return with the Ohio Department of Taxation must register by midnight, May 1.
The Ohio Department of Taxation this week issued a reminder to all commercial activity tax (CAT) practitioners and taxpayers that the first quarter 2019 CAT return is due May 10.
The IRS has announced the results of a national two-week education and enforcement campaign to combat employment tax crimes featuring visits to nearly 100 businesses showing signs of potential serious noncompliance and taking several dozen legal actions against suspected criminals.
The IRS has clarified the tax treatment of state and local tax refunds arising from any year in which the new limit on the state and local tax (SALT) deduction is in effect.
The IRS is providing additional expanded penalty relief to taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.
U.S. citizens and resident aliens — including those with dual citizenship — with a foreign bank or financial account face an April 15 deadline to file their annual Report of Foreign Bank and Financial Accounts.
Ohio’s 10th District Court of Appeals this week unanimously denied a motion for reconsideration collectively filed by over 160 cities seeking to overturn laws that enabled sweeping, pro-taxpayer municipal income tax changes.
State Sen. Kirk Schuring, R-Canton has sponsored legislation authorizing a nonrefundable income tax credit equal to 10% of a taxpayer’s investment in an Ohio opportunity zone.
Taxpayers who have elected to have the Department of Taxation administer the municipal net profit tax for their companies must file declarations and make estimated payments directly via the Ohio Business Gateway.
The IRS has clarified the tax treatment of state and local tax refunds arising from any year in which the new limit on the state and local tax deduction is in effect.