News

When the Minnesota Department of Revenue Rejects Your Offer in Compromise
A rejected offer in compromise can feel like the end of a tax debt solution, but it is often a signal that the application did not satisfy the Minnesota…
Minnesota Rules for HSAs and Medical Expense Deductions
Health savings accounts can provide meaningful tax benefits for Minnesota residents who have eligible high-deductible health plans. Contributions may receive…
Proving economic hardship for IRS currently not collectible status in Minnesota
An IRS Currently Not Collectible (CNC) status may temporarily stop most collection activity when paying a federal tax liability would prevent a taxpayer from…
Minnesota Property Tax Appeals for Commercial Real Estate Owners
A commercial property tax assessment can affect operating costs, lease negotiations, refinancing, and the eventual sale value of a property. When a Minnesota…
IRS offers in compromise for Minnesota business owners facing declining revenue
A sharp drop in revenue can leave a business owner with unpaid payroll taxes, income tax balances, sales and use tax assessments, or estimated tax obligations.…
Minnesota Drop Shipments And Sales Tax Responsibility
Drop shipping allows a Minnesota customer to purchase an item from a retailer that never physically stores or handles the product. The retailer sends the order…
Defending Against an IRS Trust Fund Recovery Penalty as a Bookkeeper or CFO
Bookkeepers and chief financial officers often stand closest to a company’s payroll tax process. That proximity can create serious personal exposure when a…
Minnesota tax implications of Roth IRA conversions
Converting funds from a traditional IRA to a Roth IRA can create long-term retirement benefits, including tax-free qualified withdrawals and relief from future…
How to Cure an IRS Installment Agreement Default in Minnesota
An IRS installment agreement can make a large federal tax balance manageable, but the arrangement depends on continued compliance. A missed payment, an unfiled…
Minnesota Unclaimed Property Reporting and Tax Implications
Unclaimed property compliance is easy to overlook because the assets often remain in a company’s accounting system long after a customer, employee, vendor, or…