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Deadline nears for Workers’ Compensation true-up

Posted by Zinner & Co. Tax Team on Jul 25, 2018 4:19:00 PM

The deadline is approaching for private employers to “true-up” with the Ohio Bureau of Workers’ Compensation (BWC).

A press release posted on the Ohio BWC website reminds employers they have until Aug. 15 to complete an important action necessary for the BWC to accurately calculate premiums.

iStock-936143492_blogAccording to the press release, prior to each policy year (July 1- June 30), employers' payroll amount, the basis for their premium, is estimated based on historical data. When the policy year-ends, employers are required to true-up, which means they must report the actual payroll for the policy year that ended on June 30 and reconcile any difference in premium paid.

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Topics: Brett W. Neate, Bureau of Worker's Compensation, Business - Management, Issues & Concerns, Ohio business owners, payroll

Show Me the Money! BWC annual True-up reports due soon

Posted by Sue-Ann Sanders on Jun 29, 2017 5:45:00 PM

The midway mark in the calendar year signifies a checkpoint for the Bureau of Workers Compensation (BWC). The BWC Annual True-up reports are due soon and while many companies are ready, some may still be a little fuzzy about the new process and timeline.

This is the second year for annual True-up reporting.  Most private employers are on a bi-monthly payment installment schedule (other than the minimum payers). If employers wish to elect a monthly installment option, they can make the change annually prior to the start of the new policy year,

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Topics: Bureau of Worker's Compensation, Business - Management, Issues & Concerns

Employers: $1 billion Headed Your Way in July

Posted by Zinner & Co. on Jun 15, 2017 3:35:35 PM

From the Ohio Bureau of Workers' Compensation news desk
June 15, 2017

Ohio’s economy will get a big boost in July. That’s when the BWC will send $1 billion in rebates to eligible Ohio employers, the first part of The Third Billion Back plan that was announced in March.

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Topics: Bureau of Worker's Compensation, Business - Management, Issues & Concerns, Taxes - Corporate & Business

Changes forthcoming to the Ohio Bureau of Workers’ Compensation

Posted by Zinner & Co. on Feb 6, 2014 8:21:00 AM

Posted by: Gary M. Sigman, CPA, MTax, PFS

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Topics: Bureau of Worker's Compensation, payroll, Taxes - Corporate & Business, Taxes - Planning, Rules and Returns

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