A failure to pay taxes can lead to serious consequences. A handful of businesses throughout Minnesota are experiencing the reality of these consequences after the Minnesota Department of Revenue updated its delinquency tax records and essentially shutdown a portion of their business. How did the Minnesota Department of Revenue impact these businesses? The agency essentiallycontinue reading…
Minnesota man faces seven years in prison for tax fraud
Tax fraud may seem like a crime committed in other parts of the country, a crime the Internal Revenue Service (IRS) investigates in New York or California. Allegations are present throughout the country, even here in Minnesota. IRS accuses local man of tax fraud scheme spanning over ten years The United States Attorney’s Office incontinue reading…
Does the IRS care if someone else pays your student debt?
The president of Morehouse College has stated that he will cover millions of dollars of student loan debt for graduates of the university. The offer is a kind gesture that can pay off rewards in the future. The beneficiaries will be able to move forward with their future without the heavy burden of student loans.continue reading…
Minnesota lawmakers consider new tax law
Minnesota lawmakers are considering two tax bills to raise revenue for the state. Key changes that would go into effect if the proposal, as written, becomes law include: Gas tax. The proposal would increase the gas tax by 70% over the next four years, resulting in an estimated 20 cent per gallon increase. Estate tax. Statecontinue reading…
Minnesota Department of Revenue accuses man of tax evasion
Tax season has come to an end and most of us have either filed our tax returns or gotten an extension. But what happens if we do not file our income tax returns? A recent case involving a local Minnesota man provides an example. Who must file income tax returns to the Minnesota Department ofcontinue reading…