Employee Retention Credit Update

Over the past year, changing rules and shifting guidance became the new normal as the government unleashed a flurry of changes during the COVID pandemic.  The employee retention credit is one such area with changes.  At first if a business participated in the Paycheck...

New Ohio Tax Law Summary

Recently, Ohio House Bill 110 was signed into law. We have reviewed the different provisions in the new law, and we have created a summary of notable provisions in the law. Read more in our summary here.

IRS Warns of Tax Scams

Each year, the IRS releases a list of scams called the “Dirty Dozen” with a warning for taxpayers, tax professionals and financial institutions to be on the lookout for these 12 nefarious schemes and scams. Read more about what to be watching for in this...

New Grant Opportunities for Certain Ohio Businesses

Certain businesses in Ohio have another opportunity to receive grant funds for pandemic-related impacts on their business. The Ohio Development Services Agency has 4 grants for different industries, and applications for the grants opened Tuesday June 29, 2021. To see...

Important Changes to the Child Tax Credit (CTC)

In our last web post, we discussed the Advance Child Tax Credit Payments the IRS is planning to send to eligible taxpayers monthly beginning July 15th. We would like to expand on the information sent previously, as we have received additional information. Advance...

Advance Child Tax Credit Payments

The American Rescue Plan (ARP), which was signed into law in March 2021, increased the Child Tax Credit (CTC) amount which was previously $2,000 per child to $3,600 per child for those under 6 and $3,000 per child for those age 6-17. The ARP also established that...