A summary of this past week’s noteworthy events from your OSCPA government relations team.

Ohio’s General Revenue Fund (GRF) tax revenues missed the estimate by $171.3 million (-9.6%) during the month of March.

All Americans are affected by the tax code—but do they understand the tax code? To find out, the Tax Foundation’s educational program, TaxEDU, and Center for Federal Tax Policy conducted a poll with Public Policy Polling.

It was announced April 10, 2024, in the House Insurance Committee that committee member Rep. Jessica Miranda (D-Cincinnati) has been named Hamilton County auditor.

Auditor of State Keith Faber Friday placed the Mt. Healthy City School District in Hamilton County in a state of fiscal emergency as a result of a projected operating fund deficit of $10,758,000, representing 26% of the district's general revenue funds for the fiscal year that ends June 30, 2024.

When undergoing the process of succession planning, timing is key.

The pace of change will never again be as slow as it is today, which requires leaders to stay aware of future trends that could impact business.

Students have the unique ability to learn and grow with an abundance of resources, something OSCPA Student Ambassador Grace Houser has taken advantage of.

In a time when stories have a great impact on society and an individual’s decision-making processes, it is important that accounting’s story is accurate and impactful.

Crypto assets–There are many unknowns about where the future of this emerging and complex subject is heading, but one thing is certain: crypto transactions impact an entity’s finances.

The Ohio Department of Taxation (ODT) recently announced extended service hours for the remainder of the income tax filing season (in addition to normal business hours). The ODT’s income/school district income tax phone lines at 800-282-1780 will be open until 7:00pm (instead of 5:00pm) on April 10, April 11, April 12 and April 15.

The Ohio Society of CPAs and all state CPA societies joined an AICPA letter to FinCEN on April 3 raising concerns with the rollout of the Beneficial Ownership Information reporting requirements.

While the CPA Exam is a long journey, Jill Kowalski said she found the process well worth the effort.

Sometimes focusing solely on executing daily tasks means missing the bigger picture of the goals you’re working toward.

As businesses integrate more technology into their daily operations, Steve Weber, co-founder of PaperTrl, warns of the overlooked consequences of sticking to traditional payment methods.

The staffing challenges that the accounting profession has been facing have led some firms to adopt new approaches to attracting talent. Pay transparency is one approach that some firms are adopting, either because of new or current laws, or as a choice of the business.

Richard Fedorovich, CPA, OSCPA Board of Directors chair-elect, has been named to Cleveland Magazine’s Cleveland 500, an annual list profiling people who are shaping Cleveland and the surrounding communities.

Professionals entering accounting should feel empowered to blaze their own trail, says Kim Murphy, CPA, even if it seems unorthodox.

While accounting professionals wear many hats as trusted business advisers, there is one that is paramount, according to a CPA thought leader.

While college students regularly hear about the value of networking and professional organizations, after graduation they may lose sight of the benefits these connections bring long term.