Democratic Gov. Mark Dayton’s goal of enacting a bill cutting and repealing taxes by next Friday appears unlikely to be met. Assistant Majority Leader Katie Sieben said Friday it will be “difficult” for that chamber to pass a plan by then. The House voted 126-2 on Thursday for $500 million in tax reductions on businesses and for state income tax filers.
A narrow band of Minnesotans will pay a higher income tax under the new state budget. How much more? That depends. Officials say the average cost of the new tax for 54,400 filers is just shy of $7,200. But that figure can be misleading.
The Minnesota House plunged Wednesday into a debate over a bill that would raise state taxes by $2.6 billion in part by enacting the state’s first alcohol tax increase in about 25 years.
IRS spokesperson Karen Connelly joined Dave Lee on Monday with extension facts and filing ideas for last-minute tax preparers.
Experts recommend using some type of guidance to navigate forms and maximize your returns.
So you’ve prepared your tax return and found that you owe. What should you do if you can’t pay?
The IRS expects 75 percent of all 2012 returns will get a refund, so if you haven’t started preparing your taxes yet, do it.
In the far corners of Gov. Mark Dayton’s budget are lesser-heralded changes that would alter how Minnesota residents pay for and interact with their government from cradle to grave.
The IRS office in downtown Minneapolis will be open two Saturdays during the income tax filing season to help taxpayers who may not be able to visit an IRS office during weekday business hours.
State tax collectors did better than expected last month as individual taxpayers withheld and paid more income taxes.