There was something a little different going on at the State Capitol Tuesday: A major bill that everyone appears to agree on. It means a second round of tax cuts could be heading your way. State lawmakers already passed income tax relief on the way to hundreds of thousands of middle income Minnesotans. Now, homeowners and renters are getting a break.
Gov. Mark Dayton says he’s willing to devote another $100 million of a budget surplus to spending on pressing needs above his previous proposal. Dayton said Thursday he made the offer to top lawmakers “in the spirit of accommodation.”
Other people might call April 15 “Tax Day,” but Minnesota Gov. Mark Dayton has another name for it.
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.
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.
In a turbulent economy with constantly changing rules it’s no surprise that the bill from Uncle Sam can sneak up on some of us. Here are some tips to make sure you emerge (mostly) unscathed this April 15.
Most folks looking for tax deductions focus on things like mortgage interest, real estate taxes and charitable donations. But tax rule changes that applied in 2013 made them less valuable in cutting taxes for an increasing number of taxpayers.
You may be surprised to know that numbers released by the U.S. Census Bureau show Minnesota has the sixth-highest taxes in the country. But Wisconsin is just ahead of us as the fifth-highest taxed state in the nation.
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.
Get a jump-start on next year’s taxes by setting up a filing system now. You can use a folder system where you label the each folders according to your needs.
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.