Minnesota tax code changes were signed into law on July 1, 2021. The changes relate to unemployment compensation, Paycheck Protection Program (PPP) loan forgiveness, and other retroactive conformity provisions affecting tax years 2017 through 2020.
The Minnesota Department of Revenue updated Minnesota tax forms for tax year 2020 to reflect these changes.
If you filed a 2020 income tax return that included unemployment compensation or PPP loan forgiveness, they will either adjust the return or ask you to amend.
- If they can adjust the return, they will send you a letter describing what they changed and any refund you may receive as a result. They are committed to adjusting as many returns as we can.
- If you will need to amend solely due to Minnesota tax law changes, wait until you hear from them before filing. They will let you know whether we will adjust your return or if you will need to amend.
- If you have not yet filed a 2020 return, or filed for an extension, you may file using the updated forms to claim the recently passed unemployment and PPP loan forgiveness income exclusions and deductions.
The Department of Revenue continues to review Minnesota forms for tax years 2017 – 2019 and will provide updates as they are available.
