Minnesota Department of Revenue · [email protected]

April 18, 2024 at 2:42 PM

Tax Professional Tip #16 – Understanding income tax penalties and interest rates

Tax Professional Tip #16 ? Understanding income tax penalties and interest rates The Minnesota Department of Revenue assesses penalties and interest on income tax returns. It?s important to understand these penalties and when we may impose them.? Type of Penalty When It Applies …

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  Minnesota Department of Revenue · [email protected]

April 17, 2024 at 4:51 PM

We still have room - register for our 2024 in-person employment tax seminars

We still have room - register for our 2024 in-person employment tax seminars Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representatives with…

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  Minnesota Department of Revenue · [email protected]

April 11, 2024 at 2:06 PM

Distributor Cigarette Tax and Tobacco Tax Returns Due April 18

Distributor Cigarette Tax and Tobacco Tax Returns Due April 18 Distributor Returns Due April 18 Your March return and payment for Cigarette Tax or Tobacco Tax are due April 18. You can file your return and pay any tax due electronically through e-Services. Questions? Contact us at cig…

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  Minnesota Department of Revenue · [email protected]

April 11, 2024 at 1:13 PM

Tax Professional Tip #15 – Last minute suggestions

Tax Professional Tip #15 ? Last minute suggestions The April 15 filing deadline is fast approaching. In Minnesota, there is no filing extension form for returns. The late filing penalty will not apply for returns filed by October 15, 2024. The late payment penalty and interest will ap…

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  Minnesota Department of Revenue · [email protected]

April 10, 2024 at 7:12 PM

We still have openings for our Withholding Tax Employer Responsibilities webinar next week

We still have openings for our Withholding Tax Employer Responsibilities webinar next week Want to learn more about Minnesota Withholding Tax and your responsibilities as an employer? The Minnesota Department of?Revenue is holding free webinars designed?for business owners, tax and…

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  Minnesota Department of Revenue · [email protected]

April 10, 2024 at 6:02 PM

Sales and Use Tax Webinars!

Sales and Use Tax Webinars! The Minnesota Department of Revenue is offering the following webinars in April and May. Introduction to Sales and Use Tax Wednesday, April 17, 2024, 9 to 11:30 a.m. Central Time This course is an introduction to sales and use taxes in Minnesota. The purpose o…

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  Minnesota Department of Revenue · [email protected]

April 8, 2024 at 6:35 PM

Corporate Net Operating Loss Law Change

Corporate Net Operating Loss Law Change Legislation signed into law on April 8, 2024, retroactively changed the effective date to reduce the Net Operating Loss (NOL) deduction limitation. The Corporate NOL deduction limitations are: For tax years beginning after December 31, 2017, an…

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  Minnesota Department of Revenue · [email protected]

April 5, 2024 at 3:17 PM

Soo Line Railroad Court Case

Soo Line Railroad Court Case On February 7, 2024, the Minnesota Tax Court determined in Soo Line Railroad Company v. Commissioner of Revenue that, beginning in tax year 2013, the Minnesota railroad track maintenance subtraction can be used for expenses that were disallowed as a deduct…

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  Minnesota Department of Revenue · [email protected]

April 5, 2024 at 1:59 PM

Minnesota first quarter withholding tax returns due April 30, 2024

Minnesota first quarter withholding tax returns due April 30, 2024 Withholding Tax Quarterly Return and Deposit Due Dates The first quarter (January - March 2024) Minnesota Withholding Tax return is due April 30. Deposits were due according to your semiweekly or monthly deposit sch…

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  Minnesota Department of Revenue · [email protected]

April 4, 2024 at 7:41 PM

– Tax Professional Tip #14 – Qualified Retirement Benefit Subtraction

? Tax Professional Tip #14 ? Qualified Retirement Benefit Subtraction We recently updated our page for the public pension subtraction, also known as the qualified retirement benefit subtraction. We added: More detail on pension plans that may qualify More Information on determining b…

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  Minnesota Department of Revenue · [email protected]

April 3, 2024 at 4:12 PM

Register for our 2024 in-person employment tax seminars

Register for our 2024 in-person employment tax seminars Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representatives with experts from these a…

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  Minnesota Department of Revenue · [email protected]

March 28, 2024 at 2:17 PM

Tax Professional Tip #13 – Preparer data breaches

Tax Professional Tip #13 ? Preparer data breaches We are all responsible for protecting customer data from theft. To provide guidance on data security, the IRS updated the Identity Theft for Tax Professionals webpage. For details, see our ?Protecting You and Your Clients from Fraud? a…

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  Minnesota Department of Revenue · [email protected]

March 26, 2024 at 5:23 PM

The Minnesota Department of Revenue has tips for those who still need to file their taxes

The Minnesota Department of Revenue has tips for those who still need to file their taxes More than 1.4 million taxpayers have already filed their taxes and over 970,000 refunds have already been sent out. The Minnesota Department of Revenue has tips for those who still need t…

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  Minnesota Department of Revenue · [email protected]

March 22, 2024 at 2:25 PM

Tax Professional Tip #12 – Retirees and senior citizens

Tax Professional Tip #12 ? Retirees and senior citizens If your client is 65 or older, their income and lifestyle changes may affect their Minnesota income taxes. Check out our Senior Citizens page for information on part-year residents, Social Security and pension income, and tax rel…

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  Minnesota Department of Revenue · [email protected]

March 21, 2024 at 1:56 PM

Online Filing Open for Homestead Credit Refunds

Online Filing Open for Homestead Credit Refunds The Minnesota Department of Revenue has reopened the online filing system for Form M1PR, Homestead Credit Refund (for Homeowners) and Renter?s Property Tax Refund. Your clients can again use our free system to electronically file if they…

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  Minnesota Department of Revenue · [email protected]

March 19, 2024 at 3:32 PM

Sales and Use Tax Webinars!

Sales and Use Tax Webinars! The Minnesota Department of Revenue is offering the following webinars in April and May. Sales and Use Tax for Local Governments Wednesday, April 10, 2024, 1:30 to 3:30 p.m. Central Time This webinar is designed for local government administration. We will pro…

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  Minnesota Department of Revenue · [email protected]

March 14, 2024 at 2:54 PM

Tax Professional Tip #11 – Education-related credits and subtractions

Tax Professional Tip #11 ? Education-related credits and subtractions Minnesota has many education-related tax credits and subtractions available. Here is a comprehensive list of tax savings your clients may qualify for. Tax benefit name Description Tax form to claim it K-…

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  Minnesota Department of Revenue · [email protected]

March 11, 2024 at 2:06 PM

Distributor Cigarette Tax and Tobacco Tax Returns Due March 18

Distributor Cigarette Tax and Tobacco Tax Returns Due March 18 Distributor Returns Due March 18 Your February return and payment for Cigarette Tax or Tobacco Tax are due March 18. You can file your return and pay any tax due electronically through e-Services. Revised Forms for 2024 Sa…

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  Minnesota Department of Revenue · [email protected]

March 8, 2024 at 3:03 PM

Reminder: e-Services and other online services unavailable TODAY

Reminder: e-Services and other online services unavailable TODAY Regular deadlines for filing and paying taxes still apply. e-Services and other online services unavailable TODAY Due to scheduled maintenance, our e-Services system and other online services will be unavailable …

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  Minnesota Department of Revenue · [email protected]

March 7, 2024 at 5:42 PM

Tax Professional Tip #10 – Filing for deceased taxpayers

Tax Professional Tip #10 ? Filing for deceased taxpayers When a client or their family member passes away, it can change their tax filing situation and needs. The Minnesota Department of Revenue has valuable and comprehensive resources to help you file for deceased taxpayers. Take a m…

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  Minnesota Department of Revenue · [email protected]

March 5, 2024 at 7:56 PM

Verify your clients’ Direct Tax Rebate subtraction

Verify your clients? Direct Tax Rebate subtraction The Minnesota Department of Revenue has been receiving returns filed by tax professionals claiming the Direct Tax Rebate subtraction on Schedule M1M, Income Additions and Subtractions, when their clients did not qualify for or receive…

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  Minnesota Department of Revenue · [email protected]

March 4, 2024 at 5:44 PM

Register for our 2024 in-person employment tax seminars

Register for our 2024 in-person employment tax seminars Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representatives with experts from these a…

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  Minnesota Department of Revenue · [email protected]

March 1, 2024 at 4:03 PM

Reminder: e-Services and other online services unavailable Friday, March 8

Reminder: e-Services and other online services unavailable Friday, March 8 Regular deadlines for filing and paying taxes still apply. e-Services and other online services unavailable Friday, March 8 Due to scheduled maintenance, our e-Services system and other online services …

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  Minnesota Department of Revenue · [email protected]

March 1, 2024 at 12:43 PM

C corporation Quarterly Estimated Payment Due March 15

C corporation Quarterly Estimated Payment Due March 15 Reminder C corporations must make quarterly estimated tax payments if their Corporation Franchise Tax liability exceeds $500 for the year. C corporation estimated payments are due: March 15 June 15 September 15 December 15 How c…

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  Minnesota Department of Revenue · [email protected]

March 1, 2024 at 12:42 PM

Partnership and S Corporation Returns Due March 15 for Calendar Filers

Partnership and S Corporation Returns Due March 15 for Calendar Filers Reminder 2023 tax returns for partnership and S corporation calendar year filers are due March 15, 2024. You must file a return even if you report no tax due. If you have already filed your return, please disregard…

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  Minnesota Department of Revenue · [email protected]

February 29, 2024 at 4:02 PM

Tax Professional Tip #9 – Returns for Tribal Members in Minnesota

Tax Professional Tip #9 ? Returns for Tribal Members in Minnesota There may be different rules to follow when preparing returns for members of Minnesota Indian tribes. Be aware of these differences so you can better serve your clients and prepare these returns accurately. Check out th…

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  Minnesota Department of Revenue · [email protected]

February 22, 2024 at 2:20 PM

Return Verification and Identity Verification Letters

Return Verification and Identity Verification Letters The Minnesota Department of Revenue takes extra steps to protect your clients? identity. If your client receives either of the following letters, ask them to complete the steps requested in the letter as soon as possible. Their tax…

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  Minnesota Department of Revenue · [email protected]

February 21, 2024 at 8:02 PM

Retail Delivery Fee

Retail Delivery Fee Starting July 1, 2024, there will be a Retail Delivery Fee of 50 cents that applies to certain transactions involving retail delivery in Minnesota. Visit our website:www.revenue.state.mn.us STAY CONNECTED: SUBSCRIBER SERV…

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  Minnesota Department of Revenue · [email protected]

February 21, 2024 at 6:31 PM

We still have openings for our Withholding Tax Employer Responsibilities webinar next week

We still have openings for our Withholding Tax Employer Responsibilities webinar next week Want to learn more about Minnesota Withholding Tax and your responsibilities as an employer? The Minnesota Department of?Revenue is holding free webinars designed?for business owners, tax and…

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  Minnesota Department of Revenue · [email protected]

February 21, 2024 at 4:24 PM

Openings still available for Pass-Through Entity Tax webinars

Openings still available for Pass-Through Entity Tax webinars The Minnesota Department of Revenue is offering an updated webinar on Pass-Through Entity Tax (PTE) for business owners and tax professionals. What does this webinar cover? This webinar will cover the PTE election and relat…

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  Minnesota Department of Revenue · [email protected]

February 16, 2024 at 5:25 PM

e-Services and other online services unavailable Friday, March 8

e-Services and other online services unavailable Friday, March 8 Regular deadlines for filing and paying taxes still apply. e-Services and other online services unavailable Friday, March 8 Due to scheduled maintenance, our e-Services system and other online services will be un…

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  Minnesota Department of Revenue · [email protected]

February 16, 2024 at 3:12 PM

Tax Professional Tip #7 – Tax Planning for your Clients

Tax Professional Tip #7 ? Tax Planning for your Clients Helping your clients plan for the next tax year is just as important as preparing their tax return for this year. Net Investment Tax Starting in 2024, Minnesota?s net investment tax takes effect. Net investment income exceeding $…

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  Minnesota Department of Revenue · [email protected]

February 15, 2024 at 5:07 PM

Department of Revenue will start reissuing over 128,000 expired one-time tax rebate checks next week

Department of Revenue will start reissuing over 128,000 expired one-time tax rebate checks next week The mailing of reissued checks should be completed by mid-March. Department of Revenue will start reissuing over 128,000 expired one-time tax rebate checks next week ST. PAUL, …

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  Minnesota Department of Revenue · [email protected]

February 12, 2024 at 7:59 PM

We still have openings - register for our in-person employment tax seminar in Moorhead

We still have openings - register for our in-person employment tax seminar in Moorhead Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representa…

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  Minnesota Department of Revenue · [email protected]

February 12, 2024 at 3:06 PM

Distributor Cigarette Tax and Tobacco Tax Returns Due February 20

Distributor Cigarette Tax and Tobacco Tax Returns Due February 20 Distributor Returns Due February 20 Your January return and payment for Cigarette Tax or Tobacco Tax are due February 20. You can file your return and pay any tax due electronically through e-Services. Revised Forms for…

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  Minnesota Department of Revenue · [email protected]

February 9, 2024 at 4:07 PM

Sales and Use Tax Webinars!

Sales and Use Tax Webinars! Sales and Use Tax Webinars! The Minnesota Department of Revenue is offering the following webinars in March and April. Introduction to Sales and Use Tax Wednesday, March 6, 2024, 9 to 11:30 a.m. Central Time Wednesday, April 17, 2024, 9 to 11:30 a.m. Central T…

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  Minnesota Department of Revenue · [email protected]

February 8, 2024 at 7:04 PM

Tax Professional Tip #6 – Revoking Power of Attorney

Tax Professional Tip #6 ? Revoking Power of Attorney The Minnesota Department of Revenue recommends reviewing your active power of attorneys annually and revoking authority for clients when you no longer need it. How do I remove an existing power of attorney? Complete and send us Form…

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  Minnesota Department of Revenue · [email protected]

February 5, 2024 at 1:43 PM

December 12 tax pro webinar materials now available

December 12 tax pro webinar materials now available The Minnesota Department of Revenue held a webinar for tax professionals on December 12, 2023. We covered individual, property, business, and withholding tax updates for the upcoming filing season along with various department and le…

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  Minnesota Department of Revenue · [email protected]

February 2, 2024 at 3:00 PM

Openings still available for Pass-Through Entity Tax webinars

Openings still available for Pass-Through Entity Tax webinars The Minnesota Department of Revenue is offering an updated webinar on Pass-Through Entity Tax (PTE) for business owners and tax professionals. What does this webinar cover? This webinar will cover the PTE election and relat…

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  Minnesota Department of Revenue · [email protected]

February 1, 2024 at 5:14 PM

Tax Professional Tip #5 – One-Time Tax Rebates and Forms 1099-MISC

Tax Professional Tip #5 ? One-Time Tax Rebates and Forms 1099-MISC The Minnesota Department of Revenue issued direct tax rebate payments in 2023 for qualifying clients. For reminders on who qualified and how we issued them, see our Direct Tax Rebate Payments page. We also issued feder…

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  Minnesota Department of Revenue · [email protected]

January 26, 2024 at 4:25 PM

Updates to 2023 Schedule M1CWFC instructions

Updates to 2023 Schedule M1CWFC instructions The Minnesota Department of Revenue updated the instructions for 2023 Schedule M1CWFC, Child and Working Family Credits. The instructions for line 2 now indicate customers with earned income of less than zero should enter zero and not a neg…

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  Minnesota Department of Revenue · [email protected]

January 26, 2024 at 4:02 PM

Notification of Local Sales and Use Tax Changes for Second Quarter 2024

Notification of Local Sales and Use Tax Changes for Second Quarter 2024 Beginning April 1, 2024, the following new local taxes are administered by the Department of Revenue:   Bloomington Sales and Use Tax 0.5% Golden Valley Sales and Use Tax 1.25% Beginning April 1, 2024, the follo…

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  Minnesota Department of Revenue · [email protected]

January 25, 2024 at 6:49 PM

Tax Professional Tip #4 – Protect your EFIN and PTIN

Tax Professional Tip #4 ? Protect your EFIN and PTIN With filing season opening in a few days, the Minnesota Department of Revenue has important reminders about protecting your Preparer Tax Identification Number (PTIN) and your Electronic Filing Identification Number (EFIN). Watch out…

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  Minnesota Department of Revenue · [email protected]

January 22, 2024 at 8:35 PM

Openings still available for Pass-Through Entity Tax webinars

Openings still available for Pass-Through Entity Tax webinars The Minnesota Department of Revenue is offering an updated webinar on Pass-Through Entity Tax (PTE) for business owners and tax professionals. What does this webinar cover? This webinar will cover the PTE election and relat…

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  Minnesota Department of Revenue · [email protected]

January 18, 2024 at 2:34 PM

Tax Professional Tip #3 – Electronic signatures on documents

Tax Professional Tip #3 ? Electronic signatures on documents The Minnesota Department of Revenue has a policy on accepting electronic signatures for all statements, documents, and forms requiring signatures. There are three types of signatures we will accept from you and your clients.…

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  Minnesota Department of Revenue · [email protected]

January 17, 2024 at 8:38 PM

Register for our in-person employment tax seminars

Register for our in-person employment tax seminars Want to learn more about state employment taxes and other employer responsibilities? The Minnesota Business Tax Education Partnership is holding in-person seminars for employers and their representatives with experts from these agenci…

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  Minnesota Department of Revenue · [email protected]

January 11, 2024 at 8:23 PM

Tax Professional Tip #2 – Certificates of Rent Paid

Tax Professional Tip #2 ? Certificates of Rent Paid You may now submit Certificates of Rent Paid (CRPs) electronically this year through the Minnesota Department of Revenue?s e-Services system. Landlords are not required to use e-Services to create 2023 CRPs. However, landlords will b…

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  Minnesota Department of Revenue · [email protected]

January 11, 2024 at 3:06 PM

Distributor Cigarette Tax and Tobacco Tax Returns Due January 18

Distributor Cigarette Tax and Tobacco Tax Returns Due January 18 Distributor Returns due January 18 Your December return and payment for Cigarette Tax or Tobacco Tax are due January 18.  Remember that you can file your return and pay any tax due electronically through e-Services. New …

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  Minnesota Department of Revenue · [email protected]

January 10, 2024 at 1:29 PM

Minnesota fourth quarter withholding tax returns due January 31, 2024

Minnesota fourth quarter withholding tax returns due January 31, 2024 Withholding Tax Quarterly Return and Deposit Due Dates The fourth quarter (October through December 2023) Minnesota Withholding Tax return is due January 31. Deposits were due according to your semiweekly or monthly…

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  Minnesota Department of Revenue · [email protected]

January 9, 2024 at 5:50 PM

Minnesota Individual Income Tax filing season opens January 29, 2024

Minnesota Individual Income Tax filing season opens January 29, 2024 Nation-leading Child Tax Credit available to Minnesota families Minnesota Individual Income Tax filing season opens January 29, 2024 Nation-leading Child Tax Credit available to Minnesota families The Minneso…

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