Every year, Minnesota property owners know that they will have to pay property taxes to local government authorities. The size of the tax liability is based on property valuations and rates set by officials. It may come as a relief, however, to know that a recent non-partisan legislative report indicates that property taxes in Minnesota would havecontinue reading…
Medtronic deal aimed at global strategy, not tax avoidance
The Twin Cities business community certainly took notice when Medtronic, a locally based business, announced that they were purchasing Covidien. Perhaps the most surprising aspect of this deal is that the merged company will relocate its headquarters to Ireland. Reports from the Minneapolis Star Tribune indicate that many people immediately jumped to the conclusion thatcontinue reading…
Seeking to avoid tax issues, Americans abroad face tough choices
A mantra that has been frequently iterated on this blog is that the federal tax code is immensely complex. This truth has reached the point that many people file returns in an honest way without knowing if tax penalties will be coming down the pike. News that a growing number of Americans are relinquishing their citizenship largelycontinue reading…
Policy shift could change attitudes toward corporate tax issues
It goes without saying that the federal congress is incredibly divided. In this day and age, compromises are difficult to come by. However, one lawmaker pointed to the possibility of a major tax law reform that could receive bipartisan support. Of course, this blog isn’t designed to provide political commentary. This post simple serves to inform readerscontinue reading…
IRS continues to go after delinquent taxpayers
Federal workers in the United States owe over $3 billion in back taxes, according to the Internal Revenue Service. That comes out to roughly 3 percent of federal workers having unpaid taxes. While this may seem like a high number, it is low compared to the overall population. The IRS said that at least 8.7continue reading…