COVID-19 News

Ohio State and Local Tax Updates October 2020

Ohio nonprofit’s request for a property tax exemption denied Appealing a tax commissioner’s denial, the taxpayer contended that the unimproved portion of the property at issue was exempt because it contained a war memorial and was used to hold community festivities. However, the OH Board of Tax Appeals (BTA) ruled that the taxpayer failed to…

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Georgia State and Local Tax Updates October 2020

Georgia implements online alcoholic beverage license application process The Georgia Dept. of Revenue has implemented a state-wide, online alcoholic beverage license application process to handle a centralized application process. The process is for both initial applications and renewals for retailers’ licenses and permits and for the remittance and reporting of application fees. Georgia’s September net…

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Ohio Small Business Relief Grant

Ohio Small Business Relief Grant Governor Mike DeWine has designated up to $125 million in federal CARES funding to assist Ohio businesses that have been harmed by the effects of COVID-19 through the Small Business Relief Grant Program. The program provides one $10,000 grant per eligible business (under the same EIN), which will be administrated…

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IRS Issues Guidance on COVID-19 Distributions from Retirement Plans

IRS Issues Guidance on COVID-19 Distributions from Retirement Plans The IRS recently issued guidance related to coronavirus-related distributions allowed under the Coronavirus Aid, Relief and Economic Security (CARES) Act. Notice 2020-50 and Notice 2020-51 apply to qualified individuals, employers and eligible retirement plans. The guidance is lengthy and complex and includes an expansion of the…

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COVID-19 Relief: New Rules for Businesses Deducting Charitable Contributions

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several changes that encourage charitable giving during the coronavirus (COVID-19) crisis. This is welcome news for certain public charities, including churches, educational organizations, hospitals, medical research organizations and food banks. Here’s an overview of the tax rules for deducting charitable contributions — and how they’ve…

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