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Minnesota Free Printable 2023 Form M1EDA for 2024 Minnesota Assignment of Income Tax Refunds

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Assignment of Income Tax Refunds
2023 Form M1EDA

2023 Form M1EDA, Assignment of Income Tax Refunds Read the instructions before completing. THIS ASSIGNMENT IS FINAL. Once it is signed, it stays in effect until the loan amount is paid in full or your lender cancels it. Taxpayer Information Taxpayers, complete this section. If you are married and file jointly, your spouse must also sign this form. Your Last Name First Name, MI Social Security Number/ITIN Spouse’s Last Name (If Filing Jointly) First Name, MI Spouse’s Social Security Number/ITIN Address City State ZIP Code Daytime Phone Number Number of Children Qualifying for the 2023 K-12 Education Credit Previous Year Household Income (See Instructions) Financial Institution or Organization (Assignee), complete this section. Assignee Information Name of Financial Institution or 501(c)(3) Organization City Address State ZIP Code Minnesota Tax ID Number/FEIN Contact Person Daytime Phone Number 1 Total amount of loan issued (from the product list on the back of this form) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Total number of children qualifying for 2023 K-12 Education Credit (from above) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Multiply line 2 by $1000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Taxpayers Sign Here Assignee Sign Here 4 Enter the lesser of lines 1 or 3 (this is the amout of your assigned refund) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 On behalf of the financial institution or qualifying organization, I have verified that the products or services to be provided by a third-party vendor have been certified by the Commissioner of Education as qualifying for the K-12 Education Credit. Name of Loan Officer or Authorized Representative Signature of Loan Officer or Authorized Representative Date Taxpayers — Read and Sign Here I assign my income tax refund for this tax year, and future tax refunds if necessary, directly to the financial institution or organization until the loan is repaid. I understand that this assignment is final. If married, I understand that my spouse and I are both responsible for the loan if we separate or divorce. Taxpayer’s Signature Date Spouse’s Signature (If Filing Jointly) Date Mail to: Minnesota Department of Revenue Mail Station 4122 600 N. Robert St. St. Paul, MN 55146 This form is formerly known as Form M300. Form M1EDA Product List Name of Financial Institution or 501(c)(3) Organization Minnesota Tax ID Number/FEIN Assignee: Based on the loan agreement, list all vendors and products or services intended to be provided. Attach additional documentation if more room is needed. Vendor MDE Approved Product or Service Cost Instructions for Form M1EDA Financial institutions and tax-exempt organizations can lend money to you for K-12 education expenses. You can then assign your future income tax refunds to them to secure the loan. To do so, all of the following must be true: • you are a current Minnesota resident Save Your Receipts! • you have a child in grades K-12 in the current tax year Save your receipts, or keep a • you met the income requirements for the Minnesota K-12 Education Credit last year detailed record of your payments for education related expenses. We may You can only assign your individual income tax refunds. Property tax refunds, lottery winnings, ask you to show these records if we and political campaign refunds cannot be assigned. have questions. Due Dates You must file this authorization by December 31, 2023. Instructions for Taxpayers You must: • Complete the top portion of the form. • Include your Social Security Number. If you are married and filing jointly, you must also include your spouse’s Social Security Number. • Sign the bottom of this form. If you are married and filing jointly, your spouse must also sign this form. This loan can only be used to buy educational materials or services that qualify for the Minnesota K-12 Education Credit. Generally, to qualify for the credit, you must have one or more children in grades K‑12, have a household income under the limits below, and must be buying qualifying educational materials or services to aid in the child’s K‑12 education. If your total number of qualifying children in K-12 is: your household income must be less than: 1 or 2 $37,500 3 $39,500 More than 3 $39,500 plus $2,000 for each additional child To find out more about eligibility requirements, visit www.revenue.state.mn.us and enter K-12 into the Search box. Be sure you understand this agreement before you sign. • • • • Any future income tax refunds will be issued to the assignee instead of you until this loan is repaid. If a refund is more than the unpaid loan balance, you will receive the remaining refund amount after the loan is paid. If you are married, and you and your spouse separate or divorce, you are both responsible for the loan. This assignment is final. Once it is signed, it stays in effect until the loan amount is paid in full or the assignee cancels it. If there is a dispute between you and the assignee, your only recourse is to bring action against the assignee in court to recover the refund. We will notify you each time a refund is issued to the assignee. The notice will include the amount of the refund. Instructions For Financial Institution or Organization (Assignee) Complete the bottom portion of the form. The amount of the assignment cannot exceed the maximum allowable credit, and can include only those amounts that are paid directly to the individuals or businesses from whom the educational materials or services are purchased. Do not include in the assignment amount any interest, other fees, or educational materials and services purchased from the assignee. Use of Information The information you enter on this assignment form is private under state law. We may provide this information to the financial institution or 501(c)(3) organization named on this form, and to certain other government entities, if allowed by law. We use this information to help determine your eligibility for the K-12 Education Credit. Participation in this program is voluntary. You are not required to provide the information requested, however, we are unable to process the assignment unless the form is complete. Forms and Information • Website: www.revenue.state.mn.us • Email: [email protected] • Phone: 651-296-3781 or 1-800-652-9094
Extracted from PDF file 2023-minnesota-form-m1eda.pdf, last modified January 2023

More about the Minnesota Form M1EDA Individual Income Tax TY 2023

This form assigns your income tax refund to a lender of financial institution. Once it is signed, it stays in effect until the loan amount is paid in full or your lender cancels it.

We last updated the Assignment of Income Tax Refunds in February 2023, so this is the latest version of Form M1EDA, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form M1EDA directly from TaxFormFinder. You can print other Minnesota tax forms here.

Other Minnesota Individual Income Tax Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form M1PR Homestead Credit Refund (for Homeowners) and Renters Property Tax Refund
Form M1 Instructions Minnesota Individual Income Tax Instructions (Form M1)
Form M1 Individual Income Tax Return
Form M1PR Instructions Homestead Credit Refund and Renter’s Property Tax Refund Instruction Booklet
Form M1M Income Additions and Subtractions (onscreen version)

Download all MN tax forms View all 96 Minnesota Income Tax Forms


Form Sources:

Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form M1EDA from the Department of Revenue in February 2023.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Minnesota Form M1EDA

We have a total of two past-year versions of Form M1EDA in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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