PDF/Printer Friendly Version On August 5, the Ohio Department of Taxation (“ODT”) released a Tax Alert called “Ohio’s PTE SALT Cap Workaround for ‘Electing Pass-Through Entities’ beginning in Tax Year 2022” (the “Alert”). The Alert reiterates the major points to consider and be aware of for those considering electing into the new Direct PTE Tax structure for the 2022 tax year. The new Direct PTE Tax was discussed in this Buzz from June 20, 2022, shortly after S.B. 246 was sig

PDF/Printer Friendly Version Two of Ohio’s neighboring states, Michigan and Pennsylvania, have recently enacted noteworthy tax legislation. Michigan Partnership Reporting On July 19, Governor Gretchen Whitmer signed into law Senate Bill 248, which creates a means of reporting federal changes to a partnership’s income resulting from a partnership-level audit or administrative adjustment request. The enacted bill creates a new Chapter 18 in the Michigan Income Tax Act requiring

PDF/Printer Friendly Version As discussed in our February 14, 2022 Buzz, IRS enforcement has and will continue to become more visible to taxpayers and practitioners. Even before the Covid-19 pandemic, many individuals were surprised to find out that the IRS operates in the field. And now, after a more than two-year hiatus prompted by the pandemic, at the end of June 2022, IRS Revenue Officers resumed field visits to individual taxpayer’s homes and to business taxpayer’s offi