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Aug 18, 2023, 00:00 AM
by
Jessica Salerno
Beginning on Jan. 1, 2024, many corporations, limited liability companies and other entities created or registered to do business in the United States must report information about their beneficial owners—the persons who ultimately own or control the company—to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network.
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Aug 18, 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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Aug 4, 2023, 00:00 AM
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Jessica Salerno
While members are still awaiting the decision on the 2020 municipal income tax refunds, the Ohio Supreme Court sided with the oil and gas industry in a major decision affirming a series of sales/use tax write-offs for equipment used in oil and gas “fracking.”
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Aug 4, 2023, 00:00 AM
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Jessica Salerno
This September, the Ohio Department of Taxation will launch a new system to manage Ohio's individual and school district income taxes.
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Jul 27, 2023, 00:00 AM
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Jessica Salerno
Ohio will have a sales tax holiday from Friday, August 4, 2023, at 12 a.m. to Sunday, August 6, 2023, at 11:59 p.m.
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Jul 27, 2023, 00:00 AM
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Jessica Salerno
The IRS will end most unannounced visits to taxpayers by agency revenue officers to reduce public confusion and enhance overall safety measures for taxpayers and employees.
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Jul 14, 2023, 00:00 AM
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Jessica Salerno
On June 30, the Ohio House by a bipartisan vote of 67-30 and the Ohio Senate on a party-line vote of 25-6 adopted their agreed-upon conference committee changes to House Bill 33, Ohio’s biennial budget legislation for fiscal years 2024-2025.
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Jul 14, 2023, 00:00 AM
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Jessica Salerno
According to the Office of Budget and Management, the state of Ohio ended FY23 on June 30 with tax revenues totaling $994.2 million or 3.6% above estimates for the year.
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Jun 30, 2023, 00:00 AM
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Jessica Salerno
OSCPA on Tuesday testified in front of the Ohio House Ways & Means Committee in support of House Bill 200, which would permit Ohioans who are currently subject to double taxation to get back to a status quo position.
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Jun 29, 2023, 00:00 AM
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Jessica Salerno
The popularity of hybrid work schedules means employers and individual taxpayers alike continue to ask questions on what it means for municipal income tax.
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Jun 23, 2023, 00:00 AM
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Jessica Salerno
The Ohio Society of CPAs on Tuesday testified in front of the Ohio House Ways & Means Committee in support of House Bill 199, which would eliminate the marriage tax penalty.
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Jun 11, 2023, 00:00 AM
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Jessica Salerno
Incomes taxes generated more than $200 million above expected collections in May, bearing out the Office of Budget and Management’s explanation last month that an April miss of about $120 million was mostly a matter of timing.
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Jun 8, 2023, 00:00 AM
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Jessica Salerno
A Written Information Security Plan is required by the FTC's Safeguards Rule of the Gramm-Leach-Bliley Act whereby financial institutions, including tax preparers, must develop, implement and maintain a comprehensive security plan to protect customer and client information.
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Jun 7, 2023, 00:00 AM
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Jessica Salerno
The amendments give companies temporary relief from accounting for deferred taxes arising from the Organization for Economic Co-operation and Development’s (OECD) international tax reform.
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May 26, 2023, 11:54 AM
by
Suzanne McCann-Perry
Senators Sherrod Brown, D-Ohio, and Bill Cassidy, R-Louisiana, are proposing to raise the reporting threshold on transactions from companies such as Airbnb, eBay, Etsy, PayPal and Venmo from $600 to $10,000 to save headaches for small businesses and individuals who work in the gig economy.
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May 26, 2023, 11:53 AM
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Suzanne McCann-Perry
A number of OSCPA legislative priorities continue to move through the Ohio legislature, including House Bill 105—a measure that would limit notices and late filing penalties under R.C. 718.27.
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Dec 11, 2022, 11:00 AM
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SEO National
With new and more efficient technologies simplifying the accounting process, tax duties are shifting to a proactive instead of reactive approach with clients.
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Dec 2, 2022, 13:53 PM
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Jessica Salerno
Attend the Summary and Analysis of the Inflation Reduction Act of 2022 on Sept. 26 to learn more.
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Aug 11, 2022, 12:28 PM
by
Sonya Guthrie
Cybersecurity is essential for everyone, but it’s also unique to the individual, said one security expert. “One of the areas of confusion for cybersecurity is that it’s one size fits all,” said Jake Nix, founder & CEO of RISCPoint at the Aug. 4 OSCPA Town Hall. “And realistically, cybersecurity means different things to different organizations.”
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Jul 29, 2022, 10:39 AM
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Suzanne McCann-Perry
Democrats may be shocked by the last-minute tax deal announced by Sen. Joe Manchin and Majority Leader Chuck Schumer, but it is nevertheless a far cry from the sprawling slate of tax increases they had once hoped to approve.
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