The Ohio Bureau of Workers' Compensation (BWC) Board of Directors on April 23, 2014 approved $2.2 billion in employer credits to help with the proposed switch from retrospective to prospective billing.

Preliminary numbers are coming out about the impact of the Affordable Care Act and what it means for Ohio.

Aaaah……The week after tax season (and the first full weekend home in two and a half months) is the best week in a tax accountant’s life!

If you haven’t filed your tax return by now, you should probably consider filing for an extension. It is a lot easier to file for an extension than it is to amend a return later for a mistake you made trying to rush your return to completion. Even more costly is if the IRS finds a mistake you made and assesses underpayment penalties and interest.

In Bobrow v. Commissioner (TC Memo 2014-21), the Tax Court ruled that the one-rollover-per-year rule applies to all of a taxpayer's IRAs rather than to each IRA separately. This ruling conflicts with IRS Publication 590 which gives the following example:

The Internal Revenue Service is giving the Mega Millions jackpot some serious competition, with tax refunds totaling $760 million ready to be handed over to an estimated 918,600 taxpayers who did not file a federal income tax return for 2010.