Last month, we mentioned that big changes were coming for Minnesota taxpayers. Basically, Governor Walz signed a tax bill in July that modifies income taxes regarding unemployment compensation, PPP loan forgiveness, and other stipulations that affected the 2017 through 2020 tax years.
The Minnesota Department of Revenue planned to provide updates as they become available. We got their most recent update in August, so we figured we’d give you a quick overview.
In order to avoid confusion, Minnesota intends on providing frequent status updates. Here are a few of their most recent ones as of August 30th:
These are the updates we’re aware of so far, but more will be on the way. If you have any questions, please contact us at (952) 855-4520 and we’ll help clear up any confusion.
Integrated Accounting & Tax, LLC is a woman-owned accounting firm with services tailored to each client’s unique needs and goals. We guarantee that every service we provide is essential and propels your goal.
Contact us today for a free tax services consultation. We have locations in Prior Lake, MN, and Ft. Lauderdale, FL, and can provide service to surrounding areas.