Minnesota Standard Deduction Change

Minnesota Standard Deduction Change

Written by Arthur Raak

April 25, 2022

The MN Department of Revenue will begin adjusting 45,000 individual income tax returns on April 25, 2022 for changes to the standard deduction limitation calculation. The change will affect 2019 and 2020 returns as the result of a MN Department of Revenue error and not one of your tax preparer.

You may be affected by the change if you claimed the standard deduction and your federal adjusted gross income exceeds the thresholds listed below.

Filing Status

Tax Year 2019

Tax Year 2020

Single

$276,000

$280,534

Married Filing Jointly/ Qualifying Widow(er)

$357,334

$363,200

Married Filing Separately

$178,675

$181,609

Head of Household

$317,000

$322,200

If you are affected by the change, you will receive an adjustment letter from the MN Department of Revenue. They will not be assessing penalties or interest on the balance due. If the balance is not paid within 60 days of the letter, they will begin charging interest and penalties on the unpaid balance.

If you have any question or concerns, please reach out to your local Hawkins Ash CPAs office.

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Arthur Raak
As a partner in the Rochester office of Hawkins Ash CPAs, I focus on small business consulting with an emphasis on transition planning and implementation. I also assist clients with income and estate tax planning and preparation.

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