On May 20th the Minnesota Legislature passed an omnibus tax bill which will soon go to the governor to be signed into law. If you are contemplating making a gift, there may be some benefit to making it prior to July 1. Effective July 1, 2013, there is a provision in the bill imposing a [...]

Direct deposit is the fast, easy and safe way to receive your tax refund. Whether you file electronically or on paper, direct deposit gives you access to your refund faster than a paper check.

For tax years beginning on or after January 1, 2013, the Internal Revenue Service announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes.

The Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.

The Eighth Circuit affirmed the decision of a district court recharacterizing a significant portion of distributions made by an S corporation to its sole shareholder as wages subject to employment taxes, (David E. Watson P.C., 668 F3d 1008, 109 AFTR2d 2012-1059 (8th Cir. 2012)). For many years S corporation owner-employees and the IRS have been [...]

On June 28, the Supreme Court ruled that the "Patient Protection and Affordable Care Act of 2010" was constitutional, including the provision in the law requiring individuals to have health insurance coverage starting in 2014. Several provisions in the health care law had already gone into effect, and many new tax provisions are scheduled to [...]

Now that many of us have filed our individual income tax returns, you may be wondering when you can expect any refunds you may have coming.

Proper planning can minimize the tax filings required upon your death. It is not uncommon to have several tax returns required after death including; the final individual income tax returns, federal and state "estate" tax returns, a gift tax return, fiduciary income tax returns for the estate, and fiduciary income tax returns for any trusts you may have created.

In the context of business taxation, "Nexus" is a term which describes a level of activity, connection, or "ties" to a state or locality, which would cause an entity to be subject to taxation by that state or locality. One need only look at a current newspaper, magazine, or watch the evening news to realize [...]

The IRS recently announced that it currently has $153.3 million in undelivered refund checks.  Over 99,000 taxpayers didn't get their refund checks delivered due to mailing address errors.  The average refund for each check was $1,547. If you think you may be due a refund, or just want to double check, go to www.irs.gov and [...]