When married taxpayers elect to file a “Married Filing Joint” tax return, both taxpayers are responsible for the accuracy of the income and other items reported on the tax return. So, what happens if a taxpayer who filed a joint return is later in a situation where there is tax owing, but the tax is [...]
Minnesota laws do not always provide for the same tax treatment that is provided under federal law. Some of these differences are obvious and easy to plan for, however, many times it is the subtle differences between the state and federal laws that prove most problematic. Taxpayers or practitioners who are not aware of these [...]
In both good and bad economic climates, any business can face cash flow problems. Sometimes, a business finds itself in a situation where there is not enough money to pay all of its obligations, including the employment taxes to the IRS and the employment and sales taxes to the Minnesota Department of Revenue (MDR). If [...]