Ohio Tax Department Issues Information on Form IT 4738, Electing Pass-Through Entity Income Tax Return

The Ohio Department of Taxation Jan. 20 issued updated information on a SALT cap workaround for electing pass-through entities (PTEs), to add information on the filing of new Form IT 4738, Electing Pass-Through Entity Income Tax Return, for individual income tax purposes. The information includes: 1) the final version of the IT 4738 and its instructions are available online; 2) the Universal Payment Coupon (UPC) for the IT 4738 can be used to make estimated payments for tax year 2023 and IT 4738 return payments for tax year 2022; 3) an IT 4738 payment can also be made electronically through ...