News

IRS offshore disclosure options for Minnesota residents
Minnesota residents with foreign bank accounts, investment portfolios, retirement plans, inherited assets, or interests in overseas businesses may have…
Tax Implications Of Refinancing Your Minnesota Home
Refinancing a Minnesota home can reduce the interest rate, change the loan term, or provide access to equity. The transaction may also affect mortgage interest…
Minnesota Sales Tax Rules for Vehicle Purchases and Trade-Ins
Buying a car, truck, motorcycle, or recreational vehicle in Minnesota involves more than agreeing on a sticker price. The transaction may include motor vehicle…
How to Appeal an IRS Penalty for Late Payment in Minnesota
Receiving an IRS notice for a late-payment penalty can be unsettling, especially when the balance includes tax, penalties, and accumulating interest. Minnesota…
Handling a Minnesota tax audit for rental properties
A Minnesota Department of Revenue audit can examine far more than the amount of rent reported on a state income tax return. Auditors may review leases, bank…
Minnesota Use Tax on Out-of-State Purchases: What Individuals Must Know
Buying goods from an out-of-state retailer can create a Minnesota tax obligation even when the seller does not charge Minnesota sales tax. That obligation is…
IRS Currently Not Collectible Status for Minnesota Retirees
Retirement can make an old tax balance feel especially overwhelming when income comes from Social Security, a pension, withdrawals from retirement accounts, or…
What to Do When Minnesota Revenue Freezes Your Assets
A sudden bank freeze, withheld payment, or blocked account can make an already stressful tax problem feel urgent and confusing. The Minnesota Department of…
Minnesota Tax Treatment of Stock Options and Restricted Stock Units
Equity compensation can be a significant part of an employee’s pay, yet its tax treatment is rarely as simple as receiving a paycheck. Stock options and…
IRS Offers in Compromise After a Minnesota Business Dissolution
Closing a Minnesota business can end its operations, but it does not automatically eliminate unpaid federal or state tax obligations. The IRS may continue…