Get Form M8

If you are a full-year Minnesota resident, you must file a Minnesota income tax return if your income meets the state's minimum filing requirement. (See the table on this page.) If you are a part-year resident or nonresident, you must file if your Minnesota gross income meets the state's minimum filing requirement.

Schedule M2NM, Non-Minnesota Source Income and Relating Expenses, is a new fiduciary income tax supplemental schedule for tax year 2022. This schedule must be completed to include amounts on lines 2 and 7 of Forms M2 or M2X, or Lines 2 and 6 of Form M2SB.

5% of tax not paid by October 16. ​4% of tax not paid by April 18. An additional 5% of the tax not paid within 180 days after filing your return or April 18, whichever date is later....Penalties and Interest for Individuals. Type of penaltyLate FilingHow much does this penalty cost?5% of tax not paid by October 16. Feb 28, 2023

If you owe taxes, you'll pay a penalty and interest It's important to note that a month doesn't mean 30 days to the IRS — filing your return even one day late means you'll still be hit with the full 5 percent penalty. On top of that, you'll also pay interest, which will only add to your fees.

Corporations doing business in Minnesota that have elected to be taxed as S corporations under IRC section 1362 must file Form M8. Who Must File. The entire share of an entity's income is taxed to the shareholder, whether or not it is actually distributed.

The Failure to File Penalty is calculated in the following way: 5% of the unpaid taxes for each month or part of a month that your tax return is late. The penalty will not exceed 25% of the total unpaid taxes.

​4% of tax not paid by April 18. An additional 5% of the tax not paid within 180 days after filing your return or April 18, whichever date is later....Penalties and Interest for Individuals. Type of penaltyLate FilingHow much does this penalty cost?5% of tax not paid by October 16. Feb 28, 2023

You can request it by calling the toll-free number on your IRS notice, or your tax professional can call the dedicated tax pro hotline or compliance unit (if applicable) to request FTA for any penalty amount. Learn more about how to handle IRS penalties, or get help from a trusted IRS expert.