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Jan 12, 2024
There are significant changes in IRS regulations regarding the Written Information Security Plan (WISP) for CPAs in 2024. Use this customizable template for this coming tax season.
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Jan 12, 2024
As a tax professional, you may be required to report beneficial ownership information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network.
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Jan 05, 2024
The Ohio Society of CPAs is partnering with the Ohio Department of Taxation to host a webinar on Wednesday, Jan. 24 covering Ohio individual and school district income tax updates. One hour of CPE will be provided
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Jan 05, 2024
A letter sent in late November to the IRS detailed how an IRS shutdown during the tax filing season would harm taxpayers and tax practitioners. The letter also outlines recommendations to the IRS that could mitigate the long-term effects of a shutdown.
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Jan 04, 2024
Tax teams are gearing up for busy season, and the right mindset and prep ahead of time can help ensure success.
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Jan 04, 2024
The Department of the Treasury and the IRS issued Notice 2024-13 announcing that the IRS intends to propose regulations to implement the product identification number (PIN) requirement with respect to the energy efficient home improvement credit.
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Jan 04, 2024
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Dec 21, 2023
Recordings of the most recent Ohio Virtual Tax Academy event are now available ahead of the 2024 tax season.
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Dec 21, 2023
The Department of Treasury and the IRS have issued Notice 2024-10 to provide additional interim guidance on the new corporate alternative minimum tax (CAMT).
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Dec 15, 2023
The Commercial Activity Tax will undergo major changes on Jan. 1, 2024, and again on Jan. 1, 2025. Annual and quarterly CAT taxpayers who anticipate having less than $3 million in taxable gross receipts in tax year 2024, should act now and cancel their CAT account immediately with an effective date of Dec. 31, 2023.
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Dec 15, 2023
The Ohio Department of Taxation has issued a new information release that details changes to certified mail procedures that will become effective Jan. 1, 2024.
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Dec 15, 2023
The IRS is disallowing claims to entities that did not exist or did not have paid employees during the period of eligibility to prevent improper ERC payments from being made to ineligible entities.
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Dec 14, 2023
Tax updates keep the profession on its toes and this year was no different.
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Dec 08, 2023
A few members recently contacted OSCPA and said that the Ohio Department of Taxation has begun sending notices to taxpayers who are investors in electing pass-through entities – those who filed the IT 4738.
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Dec 07, 2023
It can be difficult to keep up with changing tax legislation, but it’s critical for practitioners looking to serve as the best advisers to their clients.
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Nov 22, 2023
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
The IRS is offering a free webinar on developing a Written Information Security Plan (WISP) next week.
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Nov 10, 2023
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
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 02, 2023
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.