What to do if you’re waiting for a state tax cut
Officials from the Minnesota Revenue Department say people should delay filing their taxes this weekend as they update their software to reflect changes to the state's tax laws that were included in the $440 million tax relief bill passed by the Legislature Friday.
Some of the changes will affect tax filers who are in midst of filing their 2013 taxes. Revenue Commissioner Myron Frans said filers should definitely wait if they have deductions for mortgage insurance, educator expenses, higher education tuition and student loan interest. People who qualify for the working family credit (people with $10,000 to $45,000 in income) should also hold off, he added.
Frans also said his department is preparing to contact many people who have already filed their taxes.
“If you have filed we will do three things," Frans said. "We will examine your return to see if we can make the adjustment for you after we make your changes. We will notify you, taxpayer, if you need to give us more information, and we will notify you if you need to file an amended return."
Frans said people should not file an amended return until they hear from the Revenue Department. He said that will likely occur after the April 15 deadline.
Frans said 50 percent of taxpayers have already filed their returns. He said the department will release more information Monday.
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