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Jan 17, 2025
The Internal Revenue Service and the Ohio Department of Taxation both recently announced that the 2025 tax season will start on Monday, Jan. 27, 2025, and will feature expanded and enhanced tools to help taxpayers as a result of their modernization efforts.
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Jan 17, 2025
The Ohio Department of Taxation is reminding all commercial activity tax (CAT) practitioners and taxpayers that the fourth quarter 2024 CAT return is due Feb. 10, 2025.
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Jan 17, 2025
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Jan 10, 2025
This message is a friendly reminder to all commercial activity tax (CAT) practitioners and taxpayers that the fourth quarter 2024 CAT return is due February 10, 2025.
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Jan 10, 2025
The Joint Committee on Property Tax Review and Reform on Jan. 2 released its final report after spending the past year studying Ohio’s property tax system over eight hearings and receiving testimony from 60 witnesses, issuing 21 recommendations while acknowledging some proposals may contradict others.
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Jan 10, 2025
December tax collections either lagged or exceeded targets by big margins, depending on whether a transfer related to last year’s expanded sales tax holiday is factored into the totals, but normal revenue streams were generally on target.
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Jan 09, 2025
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.
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Dec 20, 2024
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.
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Dec 06, 2024
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.
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Dec 05, 2024
The former Ohio Tax Commissioner offered this advice to CPAs on tax developments in the new year: be prepared for anything.
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Nov 22, 2024
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.
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Nov 15, 2024
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.
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Nov 14, 2024
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.
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Nov 01, 2024
ODT recently informed OSCPA that a small number of taxpayers received refunds or increases to credit carryforward amounts that should not have occurred.
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Nov 01, 2024
If you haven’t cast your vote yet for the 2024 General Election, your last chance to do so is this Tuesday.
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Oct 31, 2024
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.
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Oct 18, 2024
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.
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Oct 11, 2024
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.
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Oct 10, 2024
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.
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Oct 04, 2024
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.