News

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…
What to Expect from an IRS Tax Lien in Minnesota Bankruptcy
An IRS tax lien can substantially affect a Minnesota bankruptcy case. The lien may give the federal government rights against real estate, vehicles, business…
Minnesota Sales Tax Rules for Food and Beverage Events
Food and beverage sales at fairs, festivals, fundraisers, concerts, farmers markets, and sporting events can create Minnesota sales tax obligations that are…
Managing IRS tax debt when you are self-employed in Minnesota
Self-employment offers flexibility, but it also places the responsibility for withholding, estimated payments, recordkeeping, and tax filings directly on the…
Minnesota Property Tax Refunds for Renters and Homeowners
Minnesota’s property tax refund program can return part of the property tax burden paid directly by a homeowner or indirectly through rent. The Department of…