Minnesota tax officials are scrambling to put in place new tax cuts passed by the legislature just six days ago. In a rare move, they’re asking taxpayers who might qualify for tax cuts to wait until April 3 to file. The department needs until then to program the tax cuts into its computers and instruction forms.
Most of us fall into one of three categories; we keep too much of the paper that comes into our homes or there those that try to throw out everything. And of course those that fall in between.
Now that we’re finally getting out of winter, a lot of us will start our spring cleaning. That includes getting your finances tied up. However, it’s also tax season, so the last thing you may feel like doing is crunching more numbers.
What is your largest asset? It’s your ability to earn a living!
Hundreds of thousands of Minnesotans will be getting a break on their taxes. Gov. Dayton signed $443 million of income and sales tax cuts into law Friday, after lawmakers passed the bill. The changes will take effect over next 15 months.
Gov. Mark Dayton has signed a bill providing hundreds of thousands of Minnesota taxpayers with extra deductions and exemptions they can claim on this year’s tax forms. Dayton signed the $434 million relief package Friday, soon after both the House and Senate approved it by lopsided margins. In a statement, Dayton says the tax cuts will put “more money in the pockets of Minnesota families and businesses” and “make taxes simpler for Minnesotans.”
What may trigger an audit from your tax filing?
A tax relief measure put on a fast track in the Minnesota Senate on Wednesday could mean immediate breaks for at least 300,000 people. The Democratic-crafted proposal was unveiled a day after Gov. Mark Dayton implored lawmakers to speed up. The bill could get a floor vote as soon as Thursday.
Miss something from today’s show? Click the above link to listen back to some of the highlights!
Leaders of the Minnesota Senate say they hope to pass a $434 million tax relief measure on Thursday, though it’s not clear if differences with a House version will delay its path to Gov. Mark Dayton.
Minnesota Revenue Commissioner Myron Frans said Tuesday his agency is fast approaching an internal deadline for alerting income tax preparers and software vendors of new tax breaks that filers might qualify for this year.
St Patrick’s Day adventures turn into an early morning at the Capitol on this week’s edition of BILL PENDING, INDEPENDENT FRESHMAN LEGISLATOR. Click the link above to listen.
Miss something from Tuesday? CLICK THE LINK ABOVE to listen back to highlights from THE MORNING NEWS WITH DAVE LEE!
College can be is very expensive, luckily Congress and the IRS have given us ways to offset education costs.
Even during challenging times, a small business with a sound strategy can obtain a loan.