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Separate Powers of Attorney Needed for Married Couples

Tax

By Kathleen Myers

Beginning March 1, 2012, the IRS will no longer accept the old version of Form 2848 – Power of Attorney and Declaration of Representative. The new ... read more >

Proposed Regulations for Passive Loss Rules for Limited Partners and LLC Members

Tax

By Kathleen Myers

In response to several losses in court, the IRS is redefining a limited partnership interest under the passive loss rules. The IRS has issued proposed ... read more >

Potential IRS Audit Issues for an Auto Dealer

Automobile

By Kathleen Myers

With the IRS’s recent hiring surge, the number of small business audits will likely increase over the coming months. In light of the increased activity, ... read more >

Significant Tax Changes May Be In Store for Ohioans

Tax

By Kathleen Myers

There are a few significant tax changes that are currently being considered by the Ohio Senate. These possible changes include the elimination of Ohio’s ... read more >

New W-2 Health Care Coverage Reporting Requirement

Tax

By Kathleen Myers

Employers that sponsor health care plans will need to take notice of a new W-2 reporting requirement that takes effect in 2011. As part of health care ... read more >

Auto Dealer Exemption Removed from Senate Wall Street Reform Bill

In light of the United States economic crisis, the government is seeking to improve financial and consumer regulations. In December 2009, the House of Representatives passed their version of the Wall Street Reform bill and on Thursday, May 20th, the Senate passed their version with a 59-39 vote.... read more >

2009 Ohio Tax Update

Tax

By Kathleen Myers

Franchise Tax Returns - With the phase-out of the personal property tax and franchise tax that began 4 years ago, 2009 marked the final returns for many filers. The final Forms FT-1120 for corporations were due on October 15, 2009 (if extended), and the final Forms FT-1120S for S corporations were due in June.... read more >