senate Republicans want to ditch Minnesota’s tax on Social Security checks. Minnesota is one of just seven states that apply an income tax to Social Security. Seniors who make less than $25,000 a year are exempt.
Minnesota voters gave Gov. Dayton a solid re-election victory. But unlike the last two years of Democratic dominance, Dayton’s fresh reality is a new Republican majority in the Minnesota House. “I’m proud to say that Democrats’ total control of state government in Minnesota is over,” said Rep. Kurt Daudt, the House minority leader. Exuberant Republicans will take back the House they lost just two years ago. That’s when they battled Gov. Dayton to a budget standoff, and a 17-day government shutdown — the longest in U.S. history.
The owner of a former Minneapolis restaurant was charged Wednesday with 68 counts of failing to pay sales tax and filing fraudulent and false tax returns. According to the Hennepin County Attorney’s Office, 46-year-old Michael Ralph Whitelaw underreported sales by more than $1 million, and he underpaid tax by $100,000.
If you haven’t filed your 2013 income taxes yet, the clock is ticking. You have until the end of the day to get them done, get them in the mail or file for an extension. Officials with the Internal Revenue Service said about 35 million tax payers wait until the last week to file their taxes.
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.