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The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2025 has increased to $23,500, up from $23,000 for 2024. The IRS today also issued technical guidance regarding all cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2025 in Notice 2024-80, […]
The Polk County Board of Commissioners met for a regular meeting on Tuesday morning at the Polk County Government Center. HIGHWAY-RICHARD SANDERS The board was then approached by County Engineer Richard Sanders with a resolution to advance $400,000 of town bridge funds for town bridge and box culvert replacements in the summer. He reported that
Due to the annual IRS 1040 Modernized e-File Production shutdown, the Minnesota Department of Revenue announced they will not accept electronically-filed Individual Income Tax and Property Tax Refund returns beginning November 20, 2021. E-filing for these returns will remain unavailable until the 2022 filing season opens. This will not affect business tax returns filed through their e-Services
The Minnesota Department of Revenue reminds the state’s military service members to take advantage of a refundable military tax credit before it expires. More than 2,300 service members were eligible for the 2017 Form M99, Credit for Service in a Military Combat Zone, but about 1,100 service members still have not claimed it. The 2017
Changes are coming to the Child Tax Credit (CTC) and advanced payment options for 2021 and it could affect families at tax time as some families may need to pay some of the credit back. There are a few instances where this could happen. Your child is no longer a dependent on your tax return,
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) authorizes stimulus payments to those who qualify. As a result, scammers may target Minnesotans and try to steal their personal information. WILL GOVERNMENT AGENCIES CONTACT ME ABOUT STIMULUS PAYMENTS? No. Government agencies, including the IRS and the Minnesota Department of Revenue, will not call, text, or email
