Tax conformity legislation signed into law.



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*Tax conformity legislation signed into law.*

Bipartisan legislation was passed and signed into law to provide filing simplicity and tax relief to Minnesota individuals and businesses by updating several provisions in the state?s tax code to match the federal tax code for tax years 2017 through 2022. The legislation provides nearly $100 million in tax relief for Minnesota individuals and businesses.

*Guidance for affected taxpayers*

*What can taxpayers expect from the department?
*We will update affected 2022 forms and instructions and work with certified tax software providers to update their products. These updates will be made prior to the opening of the 2022 tax filing season.

*What do taxpayers need to do before filing 2022 tax returns?
*For taxpayers filing electronically, they should install the latest updates for their tax software before filing their 2022 tax returns. The Individual Income Tax filing season will open on Monday, January 23, 2023.

For taxpayers filing by paper, they should use the forms or instructions posted to our website [ [link removed] ].

*What do taxpayers need to do if this legislation affected their 2017 through 2021 tax returns?
*See our website to find out what is included in the new legislation [ [link removed] ]. If the legislation affected your prior year tax returns, you may want to amend your return. You can amend your return yourself or consult with a tax professional.

*Guidance for tax professionals*

Further guidance for tax professionals will be sent to that specific email subscription list [ [link removed] ].




Visit our website:
www.revenue.state.mn.us [ [link removed] ]

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