Minnesota lawmakers are considering an increase to property taxes. Lawmakers in Hennepin County are currently taking a 5.5 percent increase into consideration. If the proposal becomes law, homeowners could see a spike in their property taxes in 2019. These obligations can be difficult to manage, but a failure to pay the tax bill can result in seriouscontinue reading…
Delinquency
Tax delinquency and property seizure in MN: The basics
Forget to pay your property tax bill? Ignore this obligation and you could lose your land. In some cases, Minnesota’s Department of Revenue can seize property to cover delinquent tax bills. When is property deemed “delinquent” by the government? The Minnesota Department of Revenue considers a failure to pay a property tax bill “late” if notcontinue reading…
Should you consider an Offer in Compromise with the IRS?
An Offer in Compromise (OIC) is one options that anyone struggling with tax debt may take into consideration. This option is basically an agreement between the Internal Revenue Service (IRS) and a taxpayer where the taxpayer offers the IRS a payment lower than the tax obligation. The IRS accepts the payment and forgives the remainingcontinue reading…
Three ways to stop a tax levy on your salary
Getting hit with a tax levy may seem like something that could never happen to you. It seems unfair that the government can simply take your money directly from your paycheck, yet they do. The Internal Revenue Service (IRS) will employ this means of tax collection for overdue payments. When with the IRS move forwardcontinue reading…
Why is the distinction between hobby and business important?
It may begin as a hobby. Perhaps a woodworking experiment or brewing gift set began as a fun pastime. But this new pastime has taken off. Perhaps you are spending more and more time on this hobby and you begin to wonder, could this be considered a business? Why would I want to consider mycontinue reading…
