Minnesota Department of Revenue: The ABCs of Extensions for State Income Taxes

Apr 13, 2001, 01:00 ET from Minnesota Department of Revenue

    ST. PAUL, Minn., April 13 /PRNewswire/ -- About two-thirds of the year's
 expected returns have reached the Minnesota Department of Revenue, the state's
 tax agency announced today.  That means there are a lot of last-minute filers
 out there.  If you're one of them, your return must be postmarked by, brought
 to, or electronically received by the Department of Revenue no later than
 April 16, 2001.  Taxpayers have an extra day this year since the usual
 deadline falls on a Sunday.  Despite the extra day, some Minnesotans still may
 find themselves short of time.  Here are your options:
     If you are eligible to receive a refund, you don't need to worry about
 last-minute number crunching or a late-night trip to the post office.  You
 have until October 15, 2004 to file your 2000 return and get your refund.
     If you owe taxes, you must pay by April 16 or penalty and interest will be
 assessed.  If you expect to owe money but are not ready to file the return,
 you can send in your payment using form M-13, Income Tax Extension Payment, to
 avoid any penalty and interest.  With this form, you estimate the amount you
 owe, and if you pay at least 90 percent of the total tax by April 16, 2001,
 you will not be assessed penalty or interest as long as you file the Minnesota
 income tax return and pay the balance by October 15.  You don't need to file
 by April 16, but you do need to pay your estimated tax due by that deadline.
 Be sure to list your M-13 payment on line 15 of form M-1 when you do file.
     You can find form M-13 on the department's Web site at
 http://www.taxes.state.mn.us or at your local library.  (If your community
 does not have a library, obtain forms at your post office.)
     What if you have your paperwork done, but can't afford to pay right now?
 File your return by April 16 and pay what you can when you file.  If you file
 on paper, include a note requesting a payment plan.  In the note, tell the
 department when you can pay the balance -- or how much you can pay and when
 you will make the payments.  Include your name, address and phone number so
 the department can contact you concerning the acceptability of your proposed
 payment schedule.
     If you electronically file, send a separate note (with the same
 information listed above) to the department at:
            Minnesota Department of Revenue
            P.O. Box 64564
            St. Paul, MN 55164-0564
 
     In the meantime, begin making your payments on the schedule you requested.
 Send your payments to:
            Minnesota Department of Revenue
            Mail Station 1750
            St. Paul, MN 55146-1750
 
     When you make your payments, include your social security number on your
 check and state it is for payment of your 2000 income tax.  Beginning April 17
 and every 30 days thereafter, late payment penalties are added to the amount
 due, so you will want to pay the balance as soon as possible.  Interest also
 accrues on the unpaid balance.
     You also can pay your taxes by credit card.  You may pay the amount owed,
 plus a fee charged by the processors, using your MasterCard, American Express,
 or Discover/Novus credit card.  To do so, call Official Payments Corporation
 from a touch-tone phone at 800-2PAY-TAX (800-272-9829) or visit
 http://www.officialpayments.com on the Internet.  Be sure to write down your
 confirmation number and save it with your tax records.
     For information on how to file an extension for your federal taxes, go to
 http://www.irs.gov or call 800-829-1040.
 
     Note to areas affected by floods:  The Minnesota Department of Revenue has
 the authority under statute to allow taxpayers affected by floods to use its
 normal abatement process.  This means that taxpayers who file and/or pay late
 will be assessed a penalty as of April 17.  However, they can request later
 that the state void the penalty because of "reasonable cause."  Many of the
 circumstances surrounding the region's floods qualify as "reasonable cause."
 The department is working closely with the Internal Revenue Service on this
 process and will distribute details as they become available.
 
 

SOURCE Minnesota Department of Revenue
    ST. PAUL, Minn., April 13 /PRNewswire/ -- About two-thirds of the year's
 expected returns have reached the Minnesota Department of Revenue, the state's
 tax agency announced today.  That means there are a lot of last-minute filers
 out there.  If you're one of them, your return must be postmarked by, brought
 to, or electronically received by the Department of Revenue no later than
 April 16, 2001.  Taxpayers have an extra day this year since the usual
 deadline falls on a Sunday.  Despite the extra day, some Minnesotans still may
 find themselves short of time.  Here are your options:
     If you are eligible to receive a refund, you don't need to worry about
 last-minute number crunching or a late-night trip to the post office.  You
 have until October 15, 2004 to file your 2000 return and get your refund.
     If you owe taxes, you must pay by April 16 or penalty and interest will be
 assessed.  If you expect to owe money but are not ready to file the return,
 you can send in your payment using form M-13, Income Tax Extension Payment, to
 avoid any penalty and interest.  With this form, you estimate the amount you
 owe, and if you pay at least 90 percent of the total tax by April 16, 2001,
 you will not be assessed penalty or interest as long as you file the Minnesota
 income tax return and pay the balance by October 15.  You don't need to file
 by April 16, but you do need to pay your estimated tax due by that deadline.
 Be sure to list your M-13 payment on line 15 of form M-1 when you do file.
     You can find form M-13 on the department's Web site at
 http://www.taxes.state.mn.us or at your local library.  (If your community
 does not have a library, obtain forms at your post office.)
     What if you have your paperwork done, but can't afford to pay right now?
 File your return by April 16 and pay what you can when you file.  If you file
 on paper, include a note requesting a payment plan.  In the note, tell the
 department when you can pay the balance -- or how much you can pay and when
 you will make the payments.  Include your name, address and phone number so
 the department can contact you concerning the acceptability of your proposed
 payment schedule.
     If you electronically file, send a separate note (with the same
 information listed above) to the department at:
            Minnesota Department of Revenue
            P.O. Box 64564
            St. Paul, MN 55164-0564
 
     In the meantime, begin making your payments on the schedule you requested.
 Send your payments to:
            Minnesota Department of Revenue
            Mail Station 1750
            St. Paul, MN 55146-1750
 
     When you make your payments, include your social security number on your
 check and state it is for payment of your 2000 income tax.  Beginning April 17
 and every 30 days thereafter, late payment penalties are added to the amount
 due, so you will want to pay the balance as soon as possible.  Interest also
 accrues on the unpaid balance.
     You also can pay your taxes by credit card.  You may pay the amount owed,
 plus a fee charged by the processors, using your MasterCard, American Express,
 or Discover/Novus credit card.  To do so, call Official Payments Corporation
 from a touch-tone phone at 800-2PAY-TAX (800-272-9829) or visit
 http://www.officialpayments.com on the Internet.  Be sure to write down your
 confirmation number and save it with your tax records.
     For information on how to file an extension for your federal taxes, go to
 http://www.irs.gov or call 800-829-1040.
 
     Note to areas affected by floods:  The Minnesota Department of Revenue has
 the authority under statute to allow taxpayers affected by floods to use its
 normal abatement process.  This means that taxpayers who file and/or pay late
 will be assessed a penalty as of April 17.  However, they can request later
 that the state void the penalty because of "reasonable cause."  Many of the
 circumstances surrounding the region's floods qualify as "reasonable cause."
 The department is working closely with the Internal Revenue Service on this
 process and will distribute details as they become available.
 
 SOURCE  Minnesota Department of Revenue