Status update on tax law changes implementation - October 26, 2021

Minnesota Department of Revenue sent this bulletin at 10/26/2021 11:36 AM CDT

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Minnesota Department of Revenue

Minnesota tax code changes were signed into law on July 1, 2021. Among the changes were those relating to Unemployment Insurance (UI) compensation, Paycheck Protection Program (PPP) loan forgiveness, and other retroactive conformity provisions affecting tax years 2017 through 2020.  

Revenue is committed to providing updates on progress being made on updating our forms, developing and testing our system, communicating to impacted taxpayers who need to amend their returns, and providing information on when refunds start going out to impacted taxpayers. Previous status updates were provided on August 13,  August 30, and October 5. 

 

Below is the status of progress as of October 26 2021:  

  • We began manually processing the over 540,000 returns with UI compensation and PPP loan forgiveness filed at the individual income tax level the week of September 13 with the goal of processing 1,000 returns per week. As of October 26, we have processed over 27,100 impacted returns. Of those returns, over 4,500 had PPP loan forgiveness adjustments. 
  • With system testing nearly complete, we anticipate having the system online and automatically adjusting returns by the end of this week with a goal of processing 50,000 returns per week thereafter. 

 

We will continue to provide status updates as they are available.