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Minnesota Revenue Begins the Adjustment Process

As a result of the federal tax conformity legislation that was signed into law by Governor Walz at the end of May, the Minnesota Department of Revenue now has the job of adjusting certain 2017 and 2018 tax returns that were filed before the Department updated its forms this past August. In order to make these adjustments, Minnesota Revenue will, in many cases, need to ask taxpayers for additional information.

We are starting to see some of these requests from Minnesota Revenue. They typically come in the form of a letter, much like a notice of audit. For many taxpayers, a letter from Minnesota Revenue can be distressing. These letters are a result of retroactive changes made by the Minnesota Legislature, not any mistakes made by taxpayers or their accountants. We wish this were made more clear in the letters.

If you receive one of these request letters from Minnesota Revenue, please contact your Boulay advisor, who can help you through the process and make sure any adjustments are made correctly.

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