Minnesota Issues Guidance on Filing Returns with Federal Adjustments

Minnesota issued guidance on filing personal income tax returns with Schedule M1NC, Federal Adjustments, before the legislature considers Internal Revenue Code (IRC) conformity.

Minnesota law may change during the 2018 legislative session. Therefore, tax preparers and taxpayers are advised to wait until the end of the legislative session to see if an amended return will be needed for returns submitted:

  • without Schedule M1NC; and
  • with an incorrect Schedule M1NC due to timing issues.

If Minnesota Schedule M1NC Changes

If Schedule M1NC is changed or rendered obsolete as a result of Minnesota conformity, the Department of Revenue will take one of the following actions:

  1. Change the return. If this is possible, a letter will be sent explaining the changes and a refund issued.
  2. Request additional information about the return. If that information is used to change the return, a letter will be sent explaining the changes and a refund issued.
  3. Request an amended return, if changes cannot be made.

The full text of the bulletin is available at https://content.govdelivery.com/accounts/MNREV/bulletins/1e719d2.

Bulletin, Minnesota Department of Revenue, April 4, 2018

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