Taxation-Individual
Articles
BOI filing fees
November 25, 2024
As the Corporate Transparency Act (CTA) reshapes compliance requirements across the U.S., CPAs and law firms are presented with a unique revenue opportunity: Beneficial Ownership Information (BOI) filings.
Update on Employee Retention Credit claims
July 9, 2024
Enforcement and scrutiny getting tougher, but IRS will finally start processing lower-risk ERC claims.
Minnesota Gov. Walz signs HF 4757, overhauling Minnesota's adult-use cannabis market
May 31, 2024
In a landmark move for Minnesota's cannabis industry, House File 4757 passed during the 2024 legislative session and signed into law by Gov. Tim Walz on May 24, 2024, which introduced significant changes to the state's adult-use cannabis market.
Unveiling the advantages of cost segregation studies in real estate investment
May 29, 2024
In the world of real estate investment, achieving maximum returns and optimizing cash flow are top priorities. Yet many real estate owners, investors and their tax advisors, overlook cost segregation studies.
Broader dialogue boosts existing — and new — relationships
Footnote
May 30, 2023
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.
Tax issues you might have missed during year-end close
Footnote
May 30, 2023
The IRS officially kicked off the tax filing season Jan. 23, 2023, and issues continued to arise in the tax world. Here are some of the key issues you might have missed.
Legalized use of cannabis in Minnesota: What employers need to know
May 19, 2023
The increasing social acceptance and legalization of cannabis across multiple states the past decade has brought with it the need for employers to adjust to fit a new normal.
Ms. Lindsey goes to St. Paul
Footnote
March 29, 2023
Carolee Lindsey, an MNCPA member who's been a longtime advocate at the Capitol, shares her experience of seeing the early federal tax conformity bill signed by Gov. Tim Walz.
New Revenue commissioner answers MNCPA questions
Footnote
March 29, 2023
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.
Holding S Corporation stock in a trust
Footnote
January 31, 2023
There are strict rules for holding S Corporation stock in a trust to avoid violating the eligible shareholder rules.
IRS rulemaking continues to be called into question
Footnote
January 31, 2023
So long as the IRS and/or Treasury Department enforce rules that have not met the rulemaking requirements of the APA, taxpayers will continue to have the opportunity to seek relief in the courts.
Crack the code: MNCPA Tax Conference
Footnote
November 29, 2022
Highlights from the 2022 MNCPA Tax Conference.
Estate tax planning for uncertain times
Footnote
November 29, 2022
One matter is clear during these uncertain times: It’s the golden age of gifting. Advise clients to take advantage of these estate tax planning strategies before it’s too late.
AICPA issues proposed revisions to Statements on Standards for Tax Services
October 3, 2022
The AICPA has released an exposure draft of significant proposed changes to the Statements on Standards for Tax Services. The AICPA states it will consider all comments received by Dec. 31, 2022.
An overview of charitable contributions
Footnote
May 25, 2022
For tax advisers, it is important to be aware of the requirements and nuances that accompany donations.
Signs of progress on our journey to normal
Footnote
May 25, 2022
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.
MNCPA Perspectives blog posts
The power of authoritative tax guidance: Why Senate File 783 is a game changer for Minnesota
February 10, 2025
Minnesota is on the brink of a major tax reform with Senate File 783—legislation that could provide taxpayers with much-needed clarity and confidence ...
Takeaways from recent MNCPA wealth migration survey
December 17, 2024
We sent this survey to 1,197 individuals and received a response rate of 3.7%. We appreciate those who shared their insights...
Have Minnesota residency questions? We have (some of) the answers!
June 26, 2024
Q&As from our recent webinar: Minnesota Residency Update for Individuals, Estates and Trusts, presented by attorneys Masha Yevzelman and Cameron Seybolt...
Common — and outrageous! — attempted tax deductions
March 13, 2024
Here are some themes behind commonly attempted deductibles shared in the annual MNCPA Tax Survey of members; some of these might look familiar to you, too!
Understanding the new 1099-K rules in 2023
September 5, 2023
With changes from the American Rescue Plan Act of 2021, the threshold for a Form 1009-K has been cut drastically both in terms of the number of transactions and the amount of revenue earned...
MNCPA submits amicus brief to the Minnesota Supreme Court
March 31, 2023
Recently, the MNCPA submitted a brief as amicus curiae to urge the Court to determine that Minnesota Tax Court decisions serve as binding precedent upon the Revenue commissioner...
The questions (and questions) about Minnesota federal tax conformity
February 21, 2023
Following the surprising, but well-received passing of an early federal tax conformity bill last month there were, naturally, lots of questions about what this meant for tax preparers, businesses and individuals...
MNCPA sole practitioners share their most pressing concerns
January 6, 2023
In the recent MNCPA Tax Survey, an annual survey of members in public practice, sole practitioners were asked what their top concerns are for the next two years. The answers offered insight...
Feedback sought for revised Statements on Standards for Tax Services
October 27, 2022
Comments must be submitted by Dec. 31, 2022...
Elections matter: Your participation is important
September 9, 2022
This year’s election has an election dynamic that happens only once every 20 years. After redistricting this year, there are elections in all 201 legislative districts...
Auditors: You’re in luck
August 30, 2022
A $4 billion industry! Minnesota generates more charitable gambling income than any other state, according to a recent Gambling Control Board (GCB) Gaming News issue...
Unresolved issues at the Capitol and still no deal on a special session
June 6, 2022
The 2022 legislative session ended on time, but it did not end as most people had hoped it would end...
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