IRS

Most often than not, it is the Internal Revenue Service that is seeking money from taxpayers. A notice may be sent that says a tax payer owes x-dollars in unpaid taxes, interest and penalties after an audit. In a rare situation, a recent report was released that the IRS is currently holding $917 million dollarscontinue reading…

There has been a buildup of debate, concern and even fear over the resolution to the federal budget issue. First, there was the pending fiscal cliff, then there was the talk of sequester. Federal lawmakers were able to avoid the fiscal cliff, but it appears as though the $85 billion of federal spending cuts willcontinue reading…

Lawmakers were not able to pass a bill preventing us from going over the “fiscal cliff” before midnight on Dec. 1, but they were able to reach an agreement on New Year’s Day. The deal will prevent most people in Minnesota and the rest of the country from paying more in income taxes. However, individualscontinue reading…

There are a few tax dates known to everyone in Minnesota and elsewhere – one of which is April 15. For those who file quarterly returns, June 15, September 15 and December 15 are notable as well. The Internal Revenue Service frowns upon missing these deadlines. This year there are a few new dates withcontinue reading…

It may be hard to imagine a Minnesota farmer from our flatlands peering over a cliff, but that is what is happening. It is the fiscal cliff and it’s located miles away in our nation’s capitol. If Congress does nothing prior to the end of the year, the so-called Bush tax cuts will expire. Thiscontinue reading…