Zinner & Co. Blog and Newsroom

DeWine Signs Tax Conformity Bill into Law

Posted by Zinner & Co. Tax Team on Apr 2, 2021 1:51:57 PM

Ohio Gov. Mike DeWine signed Senate Bill 18 into law, which ensures that expenses paid with forgiven Paycheck Protection Plan loans become deductible for state income tax purposes.

The legislation, which was supported by the Ohio Society of CPAs (OSCPA) will conform tax laws in the Buckeye State with recent changes to federal tax law, including deductibility of expenses from the Paycheck Protection Program and excluding $10,200 in unemployment compensation from income tax.

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Topics: Taxes - Corporate & Business, Taxes - Planning, Rules and Returns, Taxes - Individual, ohio, ppp

Ohio Income and School Tax Deadlines Moved to May 17

Posted by Zinner & Co. Tax Team on Mar 25, 2021 12:23:16 PM

S.B. 18 will Conform Ohio with Federal Tax Law Changes

Ohio Tax Commissioner Jeff McClain recently announced Ohio is following the federal government and Internal Revenue Service in extending the deadline to file and pay Ohio individual income and school district income taxes for tax year 2020.

The new deadline is May 17, an extension of approximately one month from the original deadline of April 15.

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Topics: Taxes - Planning, Rules and Returns, Taxes - Individual, tax, taxes, income tax, ohio

Tax Filing and Payment Deadline Pushed Back to May 17

Posted by Zinner & Co. Tax Team on Mar 19, 2021 9:44:38 AM

The Treasury Department and Internal Revenue Service announced the federal income tax filing due date for individuals for the 2020 tax year has been pushed to May 17.

The IRS will be providing formal guidance in the coming days. However, individual taxpayers do not need to file any forms or call the IRS to qualify for the new federal tax filing and payment deadline.

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Topics: tax services, Taxes - Planning, Rules and Returns, Taxes - Individual, tax, taxes, income tax, IRS, Treasury Department

AICPA asks Congress for PPP and tax filing deadline extensions

Posted by Zinner & Co. Tax Team on Mar 11, 2021 5:39:43 PM

The American Institute of Certified Public Accountants recently asked Congress to extend the Paycheck Protection Program’s March 31 application deadline at least 60 days. Additionally, the AICPA also asked the IRS and the Department of the Treasury to extend the April 15 tax filing and payment deadline to June 15.

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Topics: tax services, Taxes - Planning, Rules and Returns, Taxes - Individual, tax, taxes, ppp

Zinner & Co. Recommends CamScanner- PDF Scanner App to Scan Documents

Posted by Zinner & Co. Tax Team on Feb 16, 2021 4:11:38 PM

Often times, clients will scan over important documents and email them to use.

While this approach works well with a good scanner, some people do not have a scanner at their house. 

The good news is, you can use your cell phone to scan documents. 

For several years, Zinner & Co. employees have used the CamScanner-PDF Scanner App to convert important documents into PDFs.

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Topics: Taxes - Planning, Rules and Returns

ODJFS Warns Ohioans to be on Lookout for Signs of Identity Theft

Posted by Zinner & Co. Tax Team on Feb 2, 2021 5:07:07 PM

Ohioans should be on the lookout for signs of identity theft as they begin to receive their tax documents in the mail.

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Topics: identity theft, Taxes - Planning, Rules and Returns, Taxes - Individual, ODJFS, Ohio Department of Jobs and Family Services

New 1099-NEC Form For Nonemployee Compensation

Posted by Zinner & Co. Tax Team on Nov 23, 2020 10:31:30 AM

The PATH Act accelerated the due date for filing Form 1099 that includes nonemployee compensation (NEC) from February 28 to January 31 and eliminated the automatic 30-day extension for forms that include NEC. Starting with tax year 2020, taxpayers should use Form 1099-NEC to report nonemployee compensation.

Form 1099-NEC replaces the use of box 7 on Form 1099-MISC from previous years. Other uses of 1099-MISC have not changed and will continue to be used for common payments such as rent and payments to an attorney.

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Topics: Taxes - Planning, Rules and Returns, Taxes - Individual, tax, taxes, income tax, tax avoidance

Concern Over IRS Guidance on Presidential Order Deferring Payroll Tax

Posted by Zinner & Co. Tax Team on Sep 1, 2020 4:56:19 PM

On Aug. 8, President Donald Trump issued a memorandum on deferring payroll tax obligations in light of the ongoing COVID-19 Disaster, which directed the Treasury Department to suspend collection of the employee portion of Social Security taxes from Sept. 1 through the end of 2020.

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Topics: Taxes - Corporate & Business, Taxes - Planning, Rules and Returns, deductions, taxes, IRS, Coronavirus, COVID-19

Don't Panic if You Received a Tax Notice from the IRS or State of Ohio

Posted by Zinner & Co. Tax Team on Aug 21, 2020 9:31:32 AM

Over the past few weeks, we have received dozens of calls from clients, who have received tax notices from both the Internal Revenue Service and the State of Ohio.

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Topics: Taxes - Corporate & Business, Taxes - Planning, Rules and Returns, tax, taxes, IRS

Ohio Sets Sales Tax Holiday For Aug. 7

Posted by Zinner & Co. Tax Team on Aug 3, 2020 1:01:23 PM

The pandemic is not stopping Ohio’s observation of its annual sales tax holiday.

The event kicks off on midnight on Aug. 7 and lasts until Aug. 9 at 11:59 p.m.

During the “holiday,” the following items are exempt from sales and use tax:

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Topics: Taxes - Planning, Rules and Returns, tax

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