MN Revenue Dept. clears up confusion over income tax cuts

By KBJR News 1

MN Revenue Dept. clears up confusion over income tax cuts

March 27, 2014 Updated Mar 27, 2014 at 5:32 PM CDT

St. Paul, MN (NNCNOW.com) - Minnesota Revenue officials are clearing up any confusion taxpayers may have about new cuts passed into law late last week.

The tax cuts come at an odd time when more than half of the state's tax payers have already filed their returns. That's why the Minnesota Department of Revenue came up with a nifty matrix to help simplify things.

The benefits of the new tax cuts don't apply to you and you have or haven't filed yet, no need to worry. However, if the benefits do apply to you, you'll hear from the state either way.

The 2013 middle class income tax cuts, amounting to $49 million dollars, include working family credits, mortgage insurance deduction, student loan interest deduction and Mortgage Debt Forgiveness.

With all the changes, the Department of Revenue Commissioner is asking those who still need to file to hold off until after April 3rd to give time for companies to rewrite tax filing software.

The Department of Revenue says 1.5 million people have already filed their 2013 tax returns.

The average state income tax refund last year was $577.

Click here for more information.

Written by Kevin Jacobsen
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