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Gov. DeWine, BWC Propose $1.6 billion Dividend to Ohio Employers

Posted by Zinner & Co. Tax Team on Apr 9, 2020 1:00:33 PM

Move made to ease COVID-19 financial impact

Ohio Gov. Mike DeWine and Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Stephanie McCloud today proposed giving up to $1.6 billion to Ohio employers this spring to ease the economic impact of the coronavirus pandemic on Ohio’s economy and business community.

"This is great news for Ohio’s businesses, and will assist in relieving some of the financial pressures many are experiencing,” said DeWine. “Administrator McCloud and I both encourage businesses to reinvest this money in the health and safety of their employees.” 

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Topics: Bureau of Worker's Compensation, ohio, Coronavirus, COVID-19

Ohio BWC Issuing Rebate Checks

Posted by Zinner & Co. on Sep 26, 2019 11:41:36 AM

 

In May, we informed you the Ohio Bureau of Workers’ Compensation (BWC) would be issuing $1.5B in rebates to employers; and true to their word, many local employers have started receiving rebate checks in the mail.

The BWC is issuing rebates equal to 88% of the employer’s 2018 premiums (for the period running July 1, 2017 to June 30, 2018.)

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Topics: Bureau of Worker's Compensation, Ohio business owners, Insurance, SMB

Ohio Bureau of Workers’ Compensation Proposes $1.5B Rebate for Ohio Employers

Posted by Zinner & Co. Tax Team on May 21, 2019 12:18:38 PM

The Bureau of Workers’ Compensation (BWC) has announced a proposal to provide Ohio employers with a $1.5B rebate.  This rebate comes as the result of stronger than expected returns on investments.

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Topics: Bureau of Worker's Compensation, Ohio business owners, Taxes - Corporate & Business

Ohio Bureau of Workers’ Compensation Slashes Rates

Posted by Zinner & Co. Tax Team on Feb 25, 2019 1:35:16 PM

The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors has announced they have approved a 20% cut in premiums for private employers. The cut was proposed by BWC’s Director and CEO.

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Topics: Bureau of Worker's Compensation, Ohio business owners

Ohio BWC Recommends 20% Reduction in Rates

Posted by Zinner & Co. Tax Team on Feb 4, 2019 8:12:04 AM

The Ohio Bureau of Workers' Compensation (BWC) has proposed a 20% reduction in the average premium rate charged to private employers.

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Topics: Bureau of Worker's Compensation, Ohio business owners, Insurance

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

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, Taxes - Corporate & Business, Business - Management, Issues & Concerns

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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