On July 3, 2023, Governor Mike DeWine signed into law the Ohio Biennial Budget Bill, bringing sweeping changes to businesses and individuals in the state.  Commercial Activity Tax (CAT) For the last 18 years, the Ohio CAT has been a $1 million annua...

Changes to the tax treatment of research expenditures are having a big impact on many manufacturers’ tax bills. For calendar-year taxpayers, the impact date is Sept. 15, 2023. This change took effect in 2022 under the Tax Cuts and Jobs Act (TCJA). ...

In the latest slew of news and updates from the IRS, the organization also recently announced that interest rates will increase for the calendar quarter beginning Oct. 1, 2023.  For individuals, the rate for overpayments and underpayments will be 8%...

The IRS has announced tax relief will be provided to individuals and businesses impacted by Hurricane Idalia in areas of Florida. Taxpayers who live or own a business within any of the disaster areas designated by the Federal Emergency Management Age...

Governor Greg Abbott signed legislation on Aug. 9, 2023, delivering the largest property tax cuts in Texas history. The $18 billion property tax relief package includes provisions such as:   Increasing the homestead exemption from $40,000, to $100,...

The airwaves and internet are inundated these days with advertisements claiming businesses are missing out on the lucrative Employee Retention Credit (ERC). While some employers do indeed remain eligible if they meet certain criteria, the IRS continu...

The IRS and its Security Summit recently issued a warning for taxpayers to be vigilant against a surge of summer tax scams, as scammers continue to send mass emails and text messages to unsuspecting victims in an attempt to steal money and/or their i...

Private companies can breathe a sigh of relief: The Financial Accounting Standards Board (FASB) and the Private Company Council have agreed to give them a pass on a coming proposal that, if approved, would require expanded footnote disclosures about ...