A tax pendulum swings. It swings right and taxes may be cut, and then it swings left and taxes may rise. Meanwhile, taxpayers, accountants and tax counsel try to interpret what might be the outcome. The recent election swung the pendulum to the left, which will likely increase taxes.
ALERT!!!! You could get an unexpected tax bill or a refund for 2017 or 2018 from Minnesota Revenue! Minnesota Legislature’s 2019 Special Session partially conformed Minnesota tax law to 2017 federal tax law. Retroactively! The Minnesota legislature has a hard…
A Rumor is Floating: Did our Whippersnapper Legislators in St Paul Decide to Conform to Federal Tax Law? In 2017, Congress and President Trump passed the Tax Cuts and Jobs Act of 2017 (TCJA). It dramatically changed the definition of…