** This blog was last updated 12/18/23 ** The latest biennial budget bill made significant changes to the Ohio Commercial Activity Tax (CAT) that left many business taxpayers and practitioners in the state waiting for more clarity. On Monday, August 21, 2023, the Ohio Department of Taxation...
Read MoreAs of September 14, 2023, the IRS has stopped processing newly filed Employee Retention Credit (ERC) claims, at least until the end of 2023. This means the IRS will not take action at the present time on any claims filed on or after this date. While they will continue to process previously filed...
Read MoreIt’s that time of year again — the end of summer, back to school and, yes, the online issue of the AICPA’s Tax Adviser August Tax Clinic! The Tax Clinic is a special section in the journal that analyzes current tax issues and opportunities in the profession. We’ve been...
Read MoreLegislation, court cases and IRS guidance over the past 12 months have directly impacted the tax landscape for S corporations and their shareholders. Jonathan Williamson contributed to a recent AICPA Tax Adviser article, “Current Developments in S Corporations,” in which a host of...
Read MoreWith more and more people consuming content digitally, Georgia is now one of the many states taking advantage of taxable revenue opportunities in this space. Georgia Senate Bill 56, signed on May 2, 2023, requires digital products, goods, services and codes downloaded in Georgia to be subject to...
Read MoreWe launched Cohen & Co’s 2023 Summer CPE Webinar Series with a discussion on sales and use tax, an area that is top of mind for many of our clients these days. It’s at the forefront of conversations as states increasingly turn to sales tax as a more significant revenue source...
Read MoreThe Employee Retention Credit (ERC) introduced in March 2020 was a key tool in helping employers keep their teams intact while the worst of the COVID-19 pandemic played out. While the ERC ended on September 30, 2021, eligible employers can still amend their payroll tax returns to take advantage...
Read MoreA Real Estate Investment Trust (REIT) is a vehicle designed to give everyday investors the opportunity to access professionally managed real estate properties, without the hassle. Similar to a mutual fund, a REIT is a pooled investment fund, but it invests in various real property such as...
Read MoreGovernor Mike DeWine signed Amended Substitute House Bill 33 (HB 33) into law earlier this month. The bill includes numerous pro-taxpayer changes, detailed below, for both Ohio businesses and their owners. Operating appropriations of the bill took effect July 4, 2023, while remaining provisions...
Read MoreSince March 2022, the Federal Reserve has raised interest rates by more than 500 basis points, and the future of those rates is uncertain at best — making it difficult for commercial real estate businesses to plan for future projects. In addition, Fitch Ratings has estimated that around 23%...
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