Minnesota income taxes Archives - EricJohn Ltd | Tax and Accounting Services

April 15, 2019April 15, 2019

Storm-struck Counties Get One More Week To File Minnesota Taxes

Minnesota authorities have extended the April 15 tax deadline by one week for taxpayers in 64 counties hit hard by last week’s winter storm.

The Minnesota Department of Revenue said individual taxpayers and businesses now have until April 22 to file their state income tax returns. They will not face late penalties or interest for submitting returns during that extra week.

The extension affects only Minnesota tax returns. Federal returns still are due on April 15.

The new deadline follows Gov. Tim Walz’s declaration of an emergency because of Winter Storm Wesley and flooding from rapid snowmelts.

The order covers much of the southern part of the state, including the Rochester and Twin Cities metropolitan areas. Minnesota Revenue said the new deadline extends to taxpayers in these counties:

Anoka, Beltrami, Becker, Benton, Big Stone, Blue Earth, Brown, Carver, Cass, Chippewa, Chisago, Clay, Cottonwood, Dakota, Faribault, Fillmore, Freeborn, Goodhue, Grant, Hennepin, Houston, Isanti, Jackson, Kittson, Lac Qui Parle, Le Sueur, Lyon, Marshall, Martin, McLeod, Mille Lacs, Mower, Morrison, Murray, Nicollet, Nobles, Norman, Olmsted, Pennington, Pipestone, Polk, Ramsey, Red Lake, Redwood, Renville, Rock, Scott, Sherburne, Sibley, Stearns, Steele, Stevens, Swift, Todd, Traverse, Wabasha, Wadena, Waseca, Washington, Watonwan, Wilkin, Winona, Wright, Yellow Medicine.

Three tribal nations — the Prairie Island Community, Red Lake Band of Chippewa, and Upper Sioux Community — also are listed.

Individual taxpayers can phone Minnesota Revenue at 651-296-3781 or 1-800-652-9094 for more information.

February 3, 2017February 15, 2017

Warning! Warning!

The Internal Revenue Service says it is especially worried about the spread of an email phishing scheme to schools, hospitals and nonprofit organizations. The federal tax agency today issued an “urgent alert” warning employers about the potential for identity theft from W-2 forms.

“This is one of the most dangerous email phishing scams we’ve seen in a long time” said IRS Commissioner John Koskinen. “It can result in the large-scale theft of sensitive data that criminals can use to commit various crimes, including filing fraudulent tax returns.”

Employees of those institutions – particularly those working in payroll or human resources departments – should be especially wary in dealing with requests for W-2 forms, the IRS announced.

The online thieves typically send an email to a worker in a payroll or HR department, asking for a list of employees and their W-2s. The main trickery involves email addresses. The thieves “spoof,” or disguise, the address to look like the email came from a company executive.

When the worker sends the list, the scammers get valuable information, such as Social Security numbers, wage data, residential names and addresses, etc., which can be used to file phony tax returns, open credit cards or steal in other ways,

The phishing ploys were around last year, too, but they occurred heavily in the corporate world. Now they’ve spread to school districts, hospitals, nonprofits, employment agencies and even tribal organizations, among others. This year, the online thieves not only are bilking a broader range of businesses, but they also are striking earlier in the tax reporting season, the IRS and a group of cooperating tax agencies and industry groups called the Security Summit warned.

Some scammers also have used a more sophisticated version. They’ve teamed up the phishing scam with a wire transfer of money, again supposedly requested by the organization’s executive. “Some companies have lost both employees’ W-2s and thousands of dollars due to wire transfers,” The IRS said in its alert.

Feel free to contact us at EricJohn Ltd. for more information about business and individual taxes.

April 11, 2015

DETAILS, DETAILS, DETAILS!

It’s just days, maybe hours, until the filing deadline for federal and Minnesota income taxes. What can we taxpayers do to beat the clock and make sure we get our due, too?

The Minnesota Department of Revenue offers some tips on avoiding errors. The hints make Revenue’s job easier; at the same time, some also can speed up refunds. And some are common sense:

o Use official names shown on Social Security cards. This is not the place to abbreviate “David John” to “D.J.” The computers that process returns aren’t amused by nicknames. Speaking of accuracy, don’t take your W-2s for granted just because they came from your employer.

o Check and re-check Social Security numbers and account numbers for direct deposit of refunds. Come to think of it check all the numbers on your federal 1040 or state M1 returns – especially if you calculated by hand. We all make mistakes, and they can be costly on a tax return.

o File some type of return or ask for an extension by April 15, and pay as much of what you owe as possible. This is a situation in which something is a much better than nothing! The paperwork might linger with an extension, but the taxes are due.

o Minnesota Revenue advises you to pay your taxes electronically, if possible. Both state and federal governments both have been urging online payments because they are quicker and easier to process. If you’re expecting a refund, choose direct deposit to one of your bank accounts. Going direct makes it easier on Revenue and faster for you.

o If you’ve moved into or out of Minnesota, make sure your tax refund or other letter notices will follow. In Minnesota, place an X in the “New Address” box. Revenue’s processing machines might not pick up an address change if that box isn’t checked. In fact, it’s a good idea to tell the tax people where you are immediately after a move.

A tax preparer typically will check on details like these; it’s one advantage of dealing with a pro. If you’re not quite prepared for Tax Day, give us a shout at EricJohn Ltd. We can help in the rush!

March 5, 2015

A 3-HOUR WINDOW TO AVOID

Minnesotans in the throes of tax preparation should scratch off the evening of March 11 for any computer work using the state’s online systems.

The Minnesota Department of Revenue announced that its e-Services systems will be taken offline for maintenance between 5 p.m. and 8 p.m. on that day.