Ohio employers and employees should prepare for an important payroll update this fall. Starting Oct. 1, the Ohio Department of Taxation will implement new state income tax withholding tables.
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Ohio employers and employees should prepare for an important payroll update this fall. Starting Oct. 1, the Ohio Department of Taxation will implement new state income tax withholding tables.
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Did you receive an Ohio Individual Income Tax Failure to File notice (ITDQ0009) from the Ohio Department of Taxation (ODT) advising you that they did not receive an Ohio Individual Income tax return?
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The IRS has unveiled the new, redesigned Form W-4 for the tax year 2020. This new form eliminates many of the complex tables used in previous versions and includes many enhancements from the earlier draft version. read more…
Every year, a group of adventurous souls decides: This is the year I’m going to prepare my own tax return! While we certainly applaud an individual’s right to establish self-reliance and try to save money on preparation fees, it’s rarely a good idea.
Investing in real estate is a great way to develop wealth and improve your cash flow. In addition to the benefits of receiving monthly rental income, you can also potentially realize some significant tax benefits.
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The IRS announced this week in IRS Notice 2019-11 that it would not penalize taxpayers whose tax withholding and estimated tax payments fell short last year due to failing to
change their withholding under the Tax Cuts and Jobs Act (TCJA). read more…
The Ohio Department of Taxation has issued new employer withholding tables for payrolls that begin on or after July 1, 2024.
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One of the most common tax-related misconceptions is that filing a tax extension increases your risk of a tax audit.
This longstanding myth is simply not true, as filing a tax extension can statistically decrease the risk of an audit.
In addition to statistically decreasing the risk of an audit, there is also one other benefit to extending a tax return.
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Based on multiple media reports, the U.S. Treasury and IRS are preparing for the worst this filing season.
According to a Jan. 10 Washington Post article, the Treasury warned of enormous challenges this tax filing season that will likely delay refunds.
Treasury Department officials told reporters they predict a “frustrating season” for taxpayers and tax preparers due to delays caused by the pandemic, years of budget cuts to the IRS, and federal stimulus measures that have added to the tax agency’s workload.
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As we approach the end of 2021, it is important to take a closer look at your tax and financial plans. This year likely brought challenges and disruptions that significantly impacted your personal and financial situation including the continued global pandemic, remote and new hybrid work models, supply chain disruptions and rising inflation.
Now is the time to take a closer look at your current tax strategies to make sure they are still meaningful in today’s world and to take any last-minute steps that could save you tax dollars. While looming tax law changes have not been finalized, many tax planning opportunities still exist! Here are some issues to consider as we approach year-end. read more…
On Jan. 1, the One Big Beautiful Bill Act (OBBBA) significantly tightened the rules on the tax deductibility of employer-provided meals. If your business has historically relied on deductions for meals and food-related benefits, these changes require immediate...
U.S. Customs and Border Protection (CBP) has launched the Consolidated Administration and Processing of Entries (CAPE) tool to help importers and customs brokers claim tariff refunds following a landmark Supreme Court ruling. If your business paid IEEPA tariffs in...
Trump Accounts are a new type of tax-advantaged retirement account for minors, established under the One Big Beautiful Bill signed into law on July 4, 2025. With contributions of up to $5,000 per year and a potential $1,000 government seed contribution for eligible...
What Employers and Workers Should Know The U.S. Department of Labor’s Wage and Hour Division announced a proposed rule intended to clarify when a worker is an employee and when the worker may be classified as an independent contractor under the Fair Labor Standards...
A Tax Filing Risk Alert for Taxpayers For decades, many taxpayers have relied on a simple rule of thumb: if it is in the mail by the deadline, you are fine. However, recent U.S. Postal Service (USPS) clarification makes that assumption riskier. On Dec. 24, 2025, the...
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