Minnesota discusses 2016 withholding tax updates

The Minnesota Department of Revenue has issued two bulletins discussing pertinent personal income tax withholding due dates for annual returns, quarterly returns and deposit due dates. February 28, 2016 is the due date for the annual Minnesota withholding tax return and for the annual withholding tax deposit, unless the total Minnesota tax withheld for the year exceeded $500 prior to December 1, 2015. Because February 28, 2016 falls on a Sunday, the return and payment will be considered timely if made by February 29, 2016. The fourth quarter (Oct. – Dec. 2015) Minnesota quarterly withholding tax return is due on January 31, 2016. Similarly, taxpayers that withheld $1,500 or less of Minnesota withholding tax in the third quarter (July – Sept. 2015) must pay a deposit on January 31, 2016. Because January 31, 2016 falls on a Sunday, the return and payment will be considered timely if made by February 1, 2016. Taxpayers are also reminded that they can update contact information online using the Manage Profile link in e-Services (https://www.mndor.state.mn.us/tp/eservices/_/). Additional due dates for Form W-2 and Form 1099 are also discussed. (Withholding Tax Updates for Quarterly Filers and Withholding Tax Updates for Annual Filers, Minnesota Department of Revenue, January 20, 2016.)

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