Did you receive an Ohio Individual Income Tax Failure to File notice (ITDQ0009) from the Ohio Department of Taxation (ODT) advising you that they did not receive an Ohio Individual Income tax return? 

Traditionally, taxpayers have been able to deduct mortgage interest paid on mortgages of up to $1 million and Home Equity Lines of Credit of up to $100,000, for a total of $1.1 million in debt upon which mortgage interest paid can potentially be deductible.

These rules apply to both single and married filing joint taxpayers. Taxpayers married filing separate will see the qualifying debt limits reduced by half ($500,000 mortgage and $50,000 Home Equity Line of Credit).

There have been several situations in which taxpayers have struggled to find common ground with the IRS, including

With the 2017 tax year coming to a close, many individuals and business owners are asking what they can do to reduce their tax obligation, discover tax credit opportunities, or set themselves in a  more favorable tax position.

As a result of the State of Ohio paying off its unemployment compensation debt to the federal government, Ohio employers will reap the benefit of lower Federal Unemployment Tax they pay this coming January.  According to the Ohio Department of Job and Family Services, the state paid the remaining balance of nearly $218 million to satisfy its obligation to the federal government earlier this year.

(Bloomberg) An Obama administration policy that would have given more white-collar workers overtime starting Dec. 1 was blocked nationwide by a federal judge in Texas. The decision Tuesday is a victory for 21 states and dozens of business groups that sued, complaining the new rule would increase government costs in their states by $115 million next year alone and would put private employers on the hook for millions of dollars more, possibly leading to layoffs.

If you’re a small business owner, time is running out to take advantage of some income tax reduction strategies before the end of the year.  As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year.  Factors that compound the planning challenge this year include overall economic uncertainty and Congress's customary failure to act on important tax breaks that will expire at the end of 2016. 

If it sounds too good to be true, it probably is! In recent years, thousands of people have lost millions of dollars and their personal information to tax scams and fake IRS communication. This page looks at the scams affecting individuals, businesses, and tax professionals and what do if you if you spot a tax scam. 

REMEMBER: The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information.  In addition, IRS does not threaten taxpayers with lawsuits, imprisonment or other enforcement action.  Being able to recognize these tell-tale signs of a phishing or tax scam could save you from becoming a victim.

There are changes in due dates coming for many different business tax returns beginning in 2017, and many business owners are unaware of these changes.  What’s changing and how is it changing?

What you need to know about required minimum distributions.