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Tax consequences of forgiven debt in MinnesotaHaving a loan balance canceled can feel like a financial release, but the tax effects may arrive later. Under federal tax law, canceled, forgiven, discharged,…How to Handle a Multistate Tax Audit for a Minnesota CompanyA multistate tax audit can affect a Minnesota company far beyond a single tax return. State revenue departments may examine income tax apportionment, sales and…Sales tax audits for Minnesota restaurants and barsA Minnesota restaurant or bar can face a sales tax audit even when its owners believe every return was filed on time. The Minnesota Department of Revenue may…When the IRS Rejects Your Offer in CompromiseAn IRS rejection of an Offer in Compromise does not always mean that tax debt settlement is impossible. It means the agency reviewed the financial information,…Minnesota unclaimed property compliance and business tax consequencesUnclaimed property obligations can arise quietly in ordinary business operations. A stale payroll check, an unpaid vendor credit, an inactive customer account,…IRS Audit Representation: What to Bring and What to SayReceiving an IRS audit notice can make an ordinary tax year feel uncertain. The notice may request specific records, identify particular deductions, or ask you…Offshore bank accounts and FBAR penalties for Minnesota residentsMinnesota taxpayers with foreign financial accounts often discover that U.S. reporting duties extend well beyond their federal income tax return. A checking…Minnesota Tax Credits That Can Put Money Back in Your BudgetLow-income families in Minnesota may qualify for several refundable tax credits, deductions, and refund programs. These benefits can reduce state or federal…What to Do After the IRS Files a Federal Tax LienAn IRS filing of a Notice of Federal Tax Lien can make an already difficult tax problem feel immediate. The notice alerts creditors that the government claims…When Non-Owners Face Trust Fund Tax LiabilityA person does not have to own a company to become personally responsible for certain unpaid employment taxes. Under federal law, the Trust Fund Recovery… 
