Ohio and Indiana recently announced that they would be following the Federal government and the IRS in extending the deadline to file and pay individual income taxes for tax year 2020 to May 17, 2021. For Ohio, this includes Ohio and school district income taxes.
To read the announcements, click on these links:
PLEASE CONTINUE TO BRING IN YOUR INFORMATION AS NORMAL – IF YOU MAKE ESTIMATED PAYMENTS, WE STILL NEED TO COMPLETE SUBSTANTIALLY ALL OF YOUR WORK BY APRIL 15TH.
There is also a bill passed by the Ohio Senate which would conform Ohio with recent changes in federal tax law. The new bill:
- Allows PPP expenses to be deducted on Ohio tax returns.
- Exempts PPP loan amounts forgiven from commercial activity tax (CAT) filings.
- Exempts BWC refunds from CAT filings.
- Excludes $10,200 in unemployment compensation from Ohio income tax.