Minnesota Updates Filing FAQs for Tax Year 2018

The Minnesota Department of Revenue  has updated their “Forms and Instructions for Tax Year 2018,” “Information for Individuals,” and “Information for Businesses,” FAQ pages to include new information regarding 2018 returns. The “Amending 2017 Returns” FAQ page has been updated as well. Changes in the “Information for Individuals” FAQ address questions regarding itemized deductions and how taxpayers can determine whether they are withholding enough income.
The “Forms and Instructions for Tax Year 2018” page has been updated to include the following:

  • Information regarding publication of draft forms
  • The announcement that new income tax forms will be published and current forms updated
  • Minnesota’s Form M1 will start with Federal Adjusted Gross income
  • Changes in the “Information for Businesses” FAQ include:
  • Information regarding adjustments for federal elections like IRC section 179 and use of section 1031
  • The “Amending 2017 Returns” FAQ page has been updated to include information regarding deferred foreign income.
    To access all the FAQs, please follow the link.
Author

Nicolette Chasse

Nicolette Chasse is a Junior Regulatory Counsel at Sovos Compliance. Her main areas of focus are Automatic Exchange of Information (AEOI) reporting under FATCA and CRS and 1099 Federal Withholding Reporting. Nicolette received her B.A. at Trinity College and her J.D. at Penn State’s Dickinson School of Law. She is a member of the Massachusetts Bar.
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