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IRS Issues Guidance Simplifying Income Tax Compliance Related to the Employee Retention Credit

The IRS recently released new FAQ guidance providing a simplified procedure for addressing income tax amendments and refund claims related to Employee Retention Credit (ERC) determinations. See IRS FAQs. Taxpayers claiming...more

What to Do If Your Business Receives a Tax Audit

When your business receives an audit engagement letter, don’t panic. While an audit may be time-consuming, costly, and invasive, having an experienced advocate on your side to navigate you through the process and represent...more

Ohio State Bar Association Taxation Committee - Sales/Use Tax Subcommittee Report - February 2023

I. EXEMPTIONS - A. Transportation for Hire: Battle Axe Construction v. McClain, Ohio BTA Case No. 2022-559 (October 11, 2022). Exemption denied for truck not used primarily to transport property belonging to others....more

Employee Retention Credits – Supporting eligibility becomes crucial amidst aggressive promotion of ERC claims as Internal Revenue...

The employee retention credit (ERC) can be a tremendous boon for eligible employers to claim substantial cash refunds for keeping their employees on the payroll during the COVID-19 pandemic. To qualify, the employer must have...more

Once-in-a-Lifetime Tax Incentive: Employee Retention Credit extended to Q3 and Q4 2021, and expanded for start-ups and struggling...

On August 4, 2021, the IRS released additional guidance concerning the Employee Retention Credit (ERC) for Q3 and Q4 2021. See IRS Notice 2021-49. A notable expansion to eligible businesses includes any business started after...more

OSBA Sales & Use Tax Subcommittee Report Highlights Recent Cases - September 2020

I. EXEMPTIONS - Resale Exemption - Domokur Aviation Services, LLC v. McClain, Ohio BTA Case No. 2019-694 (September 15, 2020). Applying the Supreme Court’s decision in Pi in the Sky, LLC v. Testa, 155 Ohio State 113,...more

Supreme Court Upholds Cleveland Municipal Income Tax on Nonresident’s Stock Option Income

A former Ohio resident could not avoid Cleveland municipal income tax even after retiring and moving to Florida. The Ohio Supreme Court held income generated from employee stock options received as compensation while employed...more

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