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Nov 22, 2023, 00:00 AM
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Jessica Salerno
Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the IRS released Notice 2023-74 announcing a delay of the new $600 Form 1099-K reporting threshold for third-party settlement organizations for calendar year 2023.
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Nov 22, 2023, 00:00 AM
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Jessica Salerno
The IRS is offering a free webinar on developing a Written Information Security Plan (WISP) next week.
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Nov 10, 2023, 00:00 AM
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Jessica Salerno
The Ohio Department of Taxation (ODT) has mailed Verification of Income – Missing Ohio IT1040 letters to some taxpayers in error.
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Nov 10, 2023, 00:00 AM
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Jessica Salerno
The Office of Budget and Management reported Monday that the state’s October revenues came in $162.6 million or 7.2% over estimates for the month with a total of $2.4 billion collected.
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Nov 2, 2023, 00:00 AM
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Jessica Salerno
Thanks to the internet, there is no shortage of tax advice videos available. But there’s a difference between an entertaining video and comprehensive advice.
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Oct 27, 2023, 00:00 AM
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Jessica Salerno
As a result of the recent passage of Am. Sub. H.B. 33 of the 135th Ohio General Assembly, beginning in 2024, businesses with taxable gross receipts of $3 million or less and, for tax periods beginning in 2025 and thereafter, businesses with taxable gross receipts of $6 million or less will no longer be subject to the CAT.
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Oct 13, 2023, 00:00 AM
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Jessica Salerno
Better than expected collections in non-auto sales tax offset small dips in other sources to yield tax collections slightly above expectations in September, according to preliminary data from the Office of Budget and Management.
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Oct 13, 2023, 00:00 AM
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Jessica Salerno
Last year, Senate Bill 246 (134th GA) authorized pass-through entity owners to “elect” to file a new form IT 4738 and be subject to a new entity-level tax in response to the federal $10,000 SALT deduction cap limit placed on individuals.
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Oct 13, 2023, 00:00 AM
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Jessica Salerno
Late Friday, the IRS announced tax relief for certain individuals and businesses affected by the terrorist attacks in Israel. These taxpayers now have until Oct. 7, 2024, to file various federal returns, make tax payments and perform other time-sensitive tax-related actions.
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Oct 6, 2023, 00:00 AM
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Jessica Salerno
This tax alert is to advise employers that the Ohio Department of Taxation has issued new employer withholding tables to be used for payrolls that end on or after Nov. 1, 2023.
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Oct 6, 2023, 00:00 AM
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Jessica Salerno
The Ohio Board of Tax Appeals has ruled that a taxpayer who manufactured soap in Kansas that was transported to its customer’s distribution center in Ohio was not subject to Ohio Commercial Activity Tax for the soap that ultimately was delivered outside Ohio.
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Oct 6, 2023, 00:00 AM
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Jessica Salerno
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Oct 5, 2023, 00:00 AM
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Jessica Salerno
Investing is as easy as finding an app on your phone, but CPAs have an opportunity to add value to client relationships when they can offer investment advice.
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Sep 29, 2023, 00:00 AM
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Jessica Salerno
A new information release has been issued that summarizes the sales tax exemption for baby products.
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Sep 22, 2023, 00:00 AM
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Jessica Salerno
Last year, Senate Bill 246 (134th GA) authorized pass-through entity owners to “elect” to file a new form IT 4738 and be subject to a new entity-level tax in response to the federal $10,000 SALT deduction cap limit placed on individuals.
Full story
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Sep 21, 2023, 00:00 AM
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Jessica Salerno
On September 14, the IRS made the unprecedented announcement to place a moratorium on Employee Retention Credit claims, sending a clear message to ERC mills and helping small businesses.
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Sep 21, 2023, 00:00 AM
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Jessica Salerno
When correctly done, site selection can add to a business’s potential, said one expert, but it’s easy to focus on the wrong things.
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Sep 15, 2023, 00:00 AM
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Jessica Salerno
The IRS and Treasury last week issued a notice describing upcoming proposed regs that will clarify the new requirement from the Tax Cuts and Jobs Act to amortize research costs.
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Aug 18, 2023, 00:00 AM
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Jessica Salerno
House Bill 33 enacted the first major changes to the Commercial Activity Tax (CAT) exemption amounts since its inception in 2005.
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Aug 18, 2023, 00:00 AM
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Jessica Salerno
OH|TAX eServices will modernize how ODT administers Ohio’s Individual and School District Income Taxes
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