Minnesota's $3 billion tax bill made headlines when it passed earlier this year. It's making news again—for a $352 million mistake.
... [+]Mistakes happen. But when they happen in tax legislation, it can result in millions of dollars of unexpected taxes. That’s what happened in Minnesota—to the tune of $352 million.The legislature’s $3 billion tax bill made headlines when it passed earlier this year. Included in the new law were provisions approving rebate checks for over 2.5 million Minnesota taxpayers and a child tax credit aimed at low-income families.
But tucked in the middle of the bill were a few lines that accidentally cost taxpayers money—the tax bill reverts to the 2019 standard deduction. Here’s how that happened. A 2019 measure increased the standard deductions and adjusted those numbers for inflation. But when tweaking the
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Powerball ticket worth $2.7 million sold in CaliforniaThe Monday, July 10 drawing jackpot will be $650 Million with cash value of $328.3 million.
Read more »
Biden’s Fury Makes Some Aides Fear Meeting Him Alone: ReportPresident Joe Biden is given to furious, curse-filled tirades that have left some aides avoiding meetings with him alone, according to Axios.
Read more »
Texas police find 8 people injured by shooting at El Paso partyA shooting at a party in Texas wounded eight people on Friday night, according to a news report. Police did not say if any arrests had been made.
Read more »
Nearly Half of US Tap Water Laced With Toxic “Forever Chemicals,” Scientists FindAt least 45 percent of all US tap water could be laced with at least one type of PFAS, a group of toxic 'forever chemicals' linked to cancer.
Read more »
Texas police find 6 people injured after shooting at El Paso party, updated news report saysThe shooting happened near the El Paso Country Club.
Read more »