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Qualify for the new tax breaks? Hold return until Thursday, state says

Posted by: Baird Helgeson under Gov. Mark Dayton, Minnesota legislature, Democrats, Republicans, State budgets Updated: April 1, 2014 - 1:19 PM

The Minnesota Department of Revenue has finished retooling state forms for software companies so consumers can take advantage of rebates for new tax law changes.

Revenue officials will begin transitioning their system at the end of Tuesday, allowing Minnesotans who haven’t filed access to the most up-to-date tax data. They are instructing consumers have not filed their Minnesota tax returns and who could benefit from the law changes to wait until at least Thursday to submit their state tax filings.

Gov. Mark Dayton just signed into law about $440 million, including about $57 million that is retroactive for the 2013 tax year.

Minnesotans who lost their home to foreclosure, adopted a child or had student loan debt could see a much larger refund, or have to pay in less in taxes, as part of the new tax laws.

Last week, revenue department officials instructed tax preparers not to submit new returns until the system is updated.

So far, more than 56 percent of Minnesotans have filed their taxes.

Revenue officials will review the taxes of those who already filed to determine who is owed a refund.

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