Blog & Newsroom

On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully.

Since Dec. 9, business taxpayers have been able to view their account status online through the OH|TAX eServices system.

On Dec. 3, the U.S. District Court for the Eastern District of Texas suspended the nationwide implementation of the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting requirements. 

In late October, the Financial Crimes Enforcement Network (FinCEN) announced that certain victims of Hurricane Milton will receive an additional six months to submit Beneficial Ownership Information (BOI) reports.

Following a letter from the American Institute of CPAs, the Internal Revenue Service announced on Oct. 1 that it would grant disaster tax relief for all individuals and businesses affected by Hurricane Helene.

Ohio TechCred is a relatively new program that promotes technical training to build a stronger skilled workforce within the state.

New rates effective July 1

The Ohio Department of Taxation has issued new employer withholding tables for payrolls that begin on or after July 1, 2024.

Many of our clients who live in the Southwest Florida region, as well as North and South Carolina, were affected by Hurricane Ian.

On Oct. 5, 2022, the IRS published IR-2022-173, which allows hurricane victims in those states an extension of time to file their 2021 income tax returns until Feb. 15, 2023. This meant that if a valid extension was granted for your individual tax return through until Oct. 17, 2022, you had until Feb. 15. The affected states have followed the same stance as well.

A new year ushers in many changes for the Internal Revenue Service, but one massive problem will not go away – backlogs.

While the IRS still must deal with a backlog of mail and a backed-up phone system that leaves taxpayers and practitioners on hold and frequently drops the call, changes are in the works. Among them are a potential new commissioner (Danny Werfel was nominated for the role in November 2022) and an increased budget that will give the IRS billions of dollars to spend, although it has less than two months left to develop a spending plan.

 $1.2 billion in penalties will be refunded to 1.6 million taxpayers

In late August, the Internal Revenue Service announced on its website that it had issued Notice 2022-36, which will provide penalty relief to most taxpayers who filed certain 2019 or 2020 tax returns late.