The Ohio Dept. of Taxation recently issued a tax alert with guidance related to the federal deduction for unemployment benefits for tax year 2020. The department has added instructions from that alert to an FAQ on its COVID-19 tax relief webpage. The FAQ focuses on filing and amending a state tax return after the IRS issues a refund to a taxpayer who filed his or her federal and Ohio tax returns prior to the enactment of the federal unemployment benefits deduction. Read FAQ #1 here: https://bit.ly/3fWu2Sc
Social Security’s future: The problem and the proposals
Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American politics and understandably so — the options for heading off...
