Tax

Mar 18, 2019, 10:12 AM by User Not Found

The Joint Committee on Taxation has published a 32 page “Overview of Deduction for Qualified Business Income: Section 199A.”

Mar 18, 2019, 10:10 AM by User Not Found

The form has not been changed so it will be easy to overlook an important requirement.

Mar 18, 2019, 10:05 AM by User Not Found

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

Mar 3, 2019, 18:14 PM by User Not Found

The IRS is reiterating its warning that taxpayers might not be able to renew a current passport or get a new one if they owe federal taxes.

Feb 28, 2019, 11:26 AM by User Not Found

The state's gas tax has remained at 28 cents per gallon since 2005, but legislators are discussing an 18-cent increase to address the condition of Ohio's roads and bridges.

Feb 22, 2019, 15:24 PM by User Not Found

OSCPA Tax Policy Director Greg Saul, Esq., CAE, said members of the Society's Federal Tax Committee have raised concerns that they need more guidance than was provided in Revenue Procedure 2018-40.

Feb 22, 2019, 15:23 PM by User Not Found

All were chosen from existing Ohio Department of Taxation staff:

Feb 20, 2019, 16:48 PM by User Not Found

Less confusion, less hassle and less frustration. That’s the difference opting in to centralized collection could make for you and your business this year.

Feb 18, 2019, 09:56 AM by User Not Found

Beginning the week of Feb. 25 the IRS is expanding the availability of “Returns Per PTIN” information in the PTIN system to all PTIN holders.

Feb 13, 2019, 16:46 PM by User Not Found

Many Ohio businesses will miss out on the chance to save on some of their tax compliance burden – estimated by the Ohio Department of Taxation to collectively save Ohioans more than $800 million in administrative costs – if they ignore a deadline coming up March 1.

Feb 11, 2019, 12:57 PM by User Not Found

The IRS is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.

Feb 11, 2019, 12:54 PM by User Not Found

The IRS has expanded eligibility for its Identity Protection PIN test program to taxpayers in the top 10 locations where identity thefts are reported to the Federal Trade Commission.

Feb 6, 2019, 21:36 PM by User Not Found

Last week’s appeals court decision in favor of the Ohio Department of Taxation over cities was good news for the state’s economy for several reasons, said Barbara Benton, CAE, OSCPA’s VP of government relations.

Feb 1, 2019, 15:49 PM by User Not Found

The Ohio Society of CPAs this week sent a letter to Ohio’s Congressional Delegation urging them to provide relief to taxpayers in the wake of tax reform and the recent federal government shutdown.

Jan 29, 2019, 16:28 PM by User Not Found

In a win for Ohio’s CPA profession – and Ohio taxpayers – the state’s 10th District Court of Appeals on Jan. 29 upheld a lower court decision supporting the constitutionality of centralized collection of municipal net profits taxes and other municipal tax reforms adopted in recent years by the Ohio General Assembly.

Jan 23, 2019, 16:56 PM by User Not Found

Ohio businesses with a taxable year that begins on Dec. 1 that want to file their 2019 municipal net profit tax return with the Ohio Department of Taxation must register by midnight, Feb. 1.

Jan 23, 2019, 16:56 PM by User Not Found

As in past years, some taxpayers will be required to take an ID confirmation quiz.

Jan 20, 2019, 15:27 PM by User Not Found

Safe harbor enables many rental real estate owners to claim deduction.

Jan 16, 2019, 15:51 PM by User Not Found

We asked CPA members of OSCPA’s Federal Tax Committee about the more pressing issues this busy season, and they started with the deduction for qualified business income, the 199A deduction.

Jan 16, 2019, 15:01 PM by User Not Found

As busy season ramps up, accountants should be aware of what they might need to learn about Qualified Opportunity Zones.