Ohio has updated its Internal Revenue Code (IRC) conformity to incorporate changes to the IRC taking effect after March 30, 2017. The incorporated changes include the federal:
– Tax Cuts and Jobs Act; and
– Bipartisan Budget Act of 2018.
The changes include:
– for tax years 2018 through 2025 defines “dependents” as defined in the IRC; and
– expands Ohio’s 529 education savings plan to include expenses for private or parochial K-12 education expenses.
The updated definition of “dependents” removes the requirement that dependents be claimed on a federal income tax return. The federal exemption was temporarily suspended by the Tax Cuts and Jobs Act.
Go to Source
Powered by WPeMatico