IRS

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Good Question: What Triggers An IRS Audit?

New numbers from the IRS show just 0.86 percent of tax returns are being audited, which is the lowest level since 2004.

02/24/2015

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Tax Season This Year Brings Some Big Changes

The tax filing season officially opens on Tuesday, and this year there are a number of potentially big changes of which citizens need to be aware. For the first time under the Affordable Care Act, most Americans will have to certify that they had health insurance coverage in 2014 to avoid a tax penalty.

01/20/2015

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Minnesota Tax Filing Season Opens Jan. 20

The Minnesota Department of Revenue says taxpayers can start filing their Minnesota tax forms on Jan. 20. That’s the same day that the IRS says taxpayers can start filing their 2014 returns.

01/05/2015

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Man Gets 9 Years For Swindling Friend Out Of Life Savings

A Minneapolis man was swindled out of his life savings when he tried to help a friend in need. Investigators say Thomas Syzdek was going through a divorce and asked his friend, William Meredig, if he could stay with him.

08/29/2014

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Good Question: Why Can Companies Use Tax Inversion?

Burger King’s stock jumped 21 percent Monday on the news the company is in talks to merge with Canadian-based Tim Horton’s. The move is called tax inversion, a change in the location of its headquarters that would let the fast-food company pay fewer taxes in the U.S.

08/25/2014

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Man Pleads Guilty To Embezzling Army Funds To Buy Car, Tropical Home

A man pleaded guilty in a St. Paul federal court Thursday to theft and laundering of more than $400,000 from the United States Military, which he used to buy a car and a home in the Philippines. According to the U.S. Attorney’s office, Michael Craig Miller admitted to embezzling the money in 2006 from the United State Military Medical Material Agency while an employee of EXP Pharmaceutical in Fremont, Cali., a company which returns unused medicine back to vendors and manufacturers.

05/01/2014

(credit: CBS)

Countdown To Taxes Begins As April 15 Deadline Looms

The countdown is on. Taxpayers have until midnight Tuesday to get their taxes done. The IRS will receive about 135 million tax returns by the April 15 deadline. About 90 percent of those are now filed electronically. In a roundabout way, that’s helped cut down on the number of audits the IRS can conduct.

04/14/2014

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What Procrastinators Need To Know About Filing Their Taxes

According to the IRS, 20 to 25 percent of Americans wait until the last two weeks before the deadline to file their taxes. If tax time snuck up on you this year, here are a few tips to help you file.

04/07/2014

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Good Question ‘Reply All’: Apples, Donations & Escalators

Becca from Sartell asked: Why do we give an apple to a teacher? Some believe the apple is a symbol is knowledge. But others suggest that back in the 1800s, frontier families were responsible for feeding teachers and apples happened to be plentiful. The tradition continues even after families no longer fed teachers.

04/04/2014

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Reality Check: The Consequences Of Not Signing Up For MNsure

In Minnesota, at least one group opposed to Obamacare encouraged Minnesotans not to enroll and encouraged them to refuse to sign up on any website. Gov. Mark Dayton calls it inexplicable. “It’s been a barrage of criticism all the way. It’s been people cheering when it has problems. It’s been telling people not to enroll, which i think was very ill-advised,” Dayton said.

04/02/2014

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Advice For Successfully Getting A Small Business Loan

Even during challenging times, a small business with a sound strategy can obtain a loan.

03/17/2014

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Advice For Successfully Getting A Small Business Loan

Even during challenging times, a small business with a sound strategy can obtain a loan.

03/17/2014

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Buyer’s Guide: What To Look For In A New Digital Camera

When it comes to cameras, there is a wide array from which to choose. Consider these factors before making your next camera purchase.

03/17/2014

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Buyer’s Guide: What To Look For In A New Digital Camera

When it comes to cameras, there is a wide array from which to choose. Consider these factors before making your next camera purchase.

03/17/2014

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Tax Advice: Common Small Business Tax Filing Mistakes

Small businesses can innocently make tax mistakes that wind up racking up steep penalties. Consider these common mistakes before filing your taxes.

03/10/2014

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Tax Advice: Common Small Business Tax Filing Mistakes

Small businesses can innocently make tax mistakes that wind up racking up steep penalties. Consider these common mistakes before filing your taxes.

03/10/2014

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Tax Tips For Retirees

With careful planning, you may find yourself paying the IRS much less than you have in years past.

03/03/2014

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Newlywed? Whether To File Separately Or Jointly

Newlyweds are often confused about the best type of filing for their particular situation as well as the legalities involved. If you want to enjoy the lowest tax rate possible, you’ll need to do your homework, starting with these considerations.

03/03/2014

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Should You E-File Or See A Tax Specialist For Your Returns?

When it comes to figuring your taxes, should you rely on software or turn to a pro?

03/03/2014

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Good Question: Who’s Looking At Our Taxes?

Every year, the IRS receives 240 million tax returns. The Minnesota Department of Revenue processes 2.7 million returns. On Friday, WCCO viewer Brian from Shakopee was surprised when both the state and federal governments approved his filing within hours. He has a Good Question for us: Does an actual person actually read over tax forms, or does a computer program scan it for errors? According to Terri Steenblock, the assistant commissioner of individual taxes with the Minnesota Department Revenue, the answer can be both.

02/24/2014

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Should You File Your Own Taxes?

We are just a few days into tax filing season. Though most people probably haven’t gotten their taxes done quite yet, WCCO took look into answering one of the most common questions. Tax season was delayed a few weeks, but the deadline is still April 15.

02/04/2014

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Good Question: How Long Should We Keep Financial Documents?

This time of year, many of us talk about getting our finances in order. A WCCO-TV viewer named Rachael from St. Joseph wrote us asking how long she should keep her financial documents.

12/26/2013

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Email Mishap Has MNsure Under Scrutiny…Again

MNsure is under fire, again. This time it’s because of an employee accidentally sent out an email containing the personal information of thousands of Minnesotans.

09/13/2013

(credit: CBS)

2 Boston Parking Spots Go For $560K

Parking can be very expensive in metro areas, but you won’t believe how much one woman was willing to pay. Two parking spots were being auctioned off in Boston’s Back Bay neighborhood, after they were seized by the IRS for back taxes.

06/14/2013

(credit: U.S. House of Representatives)

Paulsen Comments On National Security And Government Trust

U S Congressman Erik Paulsen joined John Hines on the WCCO Morning News Friday

06/07/2013

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