State tax refunds for Minnesotans who received enhanced unemployment benefits or Paycheck Protection Program loans during the pandemic should start hitting bank accounts as soon as this week.
The backdrop: The Minnesota Legislature struck a deal this summer to exempt income residents made from the two relief programs from state taxes.
- But lawmakers passed the change after the tax filing deadline, so the Department of Revenue had to come up with a system to process the refunds.
What to expect: Some PPP loan refunds have already been processed. But many taxpayers could still be waiting a while.
- There are about 540,000 impacted returns, but Revenue will only be able to manually process 1,000 a week to start. Officials hope to increase the pace to 50,000 a week by late October.
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