A NEW DATE TO WATCH

 

Minnesota taxpayers will know by June 27 if recent changes in tax laws put more money in their pockets. State Revenue Commissioner Myron Frans promised Tuesday that, by that date, his department will process all 2013 returns due to benefit from a group of new laws that were nicknamed “middle class tax cuts.”

It seems these tax breaks also may affect property tax refunds. So, Frans told Minnesotans with those tax cuts NOT to file 2013 claims for either the Homestead Credit Refund (for homeowners) or the Property Tax Credit Refund (for renters) until further notice.

Why not? Well, Revenue wants to make sure their incomes are correct before taking those 2013 refund claims. In addition, the state Legislature still is considering some other property tax changes, Frans said.

Here’s what to do now if you were affected – or think you were affected – by this spring’s middle-class tax breaks.

• If you filed early (before April 2) , be patient and WAIT until June 27 to start tracking your 2013 tax refund. Processing should be done by then. “Taxpayers who do not hear from us by June 27 did not qualify for the 2013 middle class tax cuts, according to our review,” Frans said.
• If you disagree then, you or your tax preparer should contact Minnesota Revenue by phone at 1-800-652-9094 or by email to [email protected].
• WAIT to file or amend your property tax refund until Minnesota Revenue issues a “File Now” announcement. (Note: Property owners typically have until Aug. 15 to make their claims.)
• Keep an eye on Minnesota Revenue’s Web site, www.revenue.state.mn.us, and monitor the latest news by clicking on the orange “Tax Law Changes” button.

A big bunch of taxpayers are affected. Minnesota Revenue estimates about 260,000 returns that qualified for the tax cuts had been filed before April 2. That was the date when Revenue’s processing systems caught up to the changes. They have to be specially processed and, so far, about 52,000 are done.. Another 1.1 million returns eligible for the tax cuts were filed after revised forms were available on April 2.
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