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Any caution on E-filing the Federal Tax Return, and doing MN Tax Return after the fact?

lori1
Level 2

We are waiting on potential Minnesota unemployment tax law changes. Federal has already approved and the software is updated.  Until we know what MN will do, is it okay to e-file Federal and do MN later? 

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TaxGuyBill
Level 15

One other thing to consider ... Minnesota is good at 'fixing' things due to retroactive law changes.  If you file now and the law retroactively changes later, it is very likely the state will just fix things and automatically send out refunds for the adjustments.

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IRonMaN
Level 15

Yes, but how long are you going to be willing to wait?  The Minnesota Democratic House narrowly passed a law dealing with unemployment last week, but the law is tied to an increase in tax rates.  The chances of a Republican controlled Senate passing that bill is somewhere between zilch and none.  Back to the drawing board.

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
TaxGuyBill
Level 15

One other thing to consider ... Minnesota is good at 'fixing' things due to retroactive law changes.  If you file now and the law retroactively changes later, it is very likely the state will just fix things and automatically send out refunds for the adjustments.

View solution in original post

lori1
Level 2

We considered that they would take care of it after the fact but unfortunately our confidence level isn't high as to when they will correct the issue as we have clients waiting on 2019 refunds yet and prefer if possible to put out more a final product.

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TaxGuyBill
Level 15

I have high confidence in the State of Minnesota.

I have very low confidence in Intuit producing an accurate product.

IRonMaN
Level 15

I have high confidence with the folks working for the MN Dept of Rev.  I have low confidence in the folks making the laws that the folks in the Dept of Revenue have to follow.  I was sitting on returns for awhile but there is no way that the state is going to pass legislation and then have software ready to roll before May 17th.

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
TaxGuyBill
Level 15

That's a better way of saying it.  I should have said "MN Department of Revenue"; I wouldn't want people to mistakenly think I have any confidence in politicians.   😁