IRS & MS STATE NEWS
Mississippi Relief for Rental Property Owners and Businesses
On October 9, 2020 the Mississippi Rental Assistance Grant Program (MRAP) was established to award grants to owners and landlords of Mississippi rental property. When the CARES Act passed in March of this year, it included a moratorium on...
Ongoing Certificate of Good Standing Scam
With it being renewal time for the Mississippi Secretary of State Annual Report, we wanted to remind our small business clients to be cautious of an ongoing scam involving a falsified renewal form and a request for $90.50. The Secretary of State is the only provider...
April 15 Income Tax Payment Deadline Extended For Affected Taxpayers
The IRS issued Notice 2020-17 on Wednesday, extending the April 15 income tax payment deadline for many to July 15, 2020. The tax return filing deadline was not extended by this notice. Details may be found in the link below: https://www.irs.gov/coronavirus
Secretary of State Warns Mississippians of a “Certificate of Existence” Scam
The Mississippi Secretary of State’s Office has issued a press release warning Mississippians of a scam involving a $90.50 fee for requesting business document such as a Certificate of Existence. For more information, please visit the link below:...
Mississippi Sales Tax Holiday to Include School Supplies
The Mississippi Sales Tax Holiday of 2019 will take place between Friday, July 26th and Saturday, July 27th and will include school supplies in addition to clothing and footwear. For further guidelines, please visit the link below:...
IRS Releases Guide Explaining Effects of Tax Reform on Taxpayers
With major tax reform changes impacting most taxpayers, the IRS has released a guide along with other online resources explaining the effects both this year and in the years to come. For more information, visit the link below:...
IRS to Waive Underpayment Penalty for Some Taxpayers
The IRS recently announced that it will be waiving the penalty fee for taxpayers who paid at least 85 percent of their total tax liability during the year through income withholdings, estimated payments, or a combination of the two. For more information, please visit...
IRS Confirms Tax Season to Begin January 28 Despite Government Shutdown
The IRS recently confirmed it will be processing returns and issuing refunds as usual this year despite the government shutdown. It also encouraged taxpayers and preparers to submit returns electronically for quicker processing. Additional information may be found at...
Third Quarter Estimated Tax Payments Due September 17th
The IRS released a reminder this week for the third quarter tax estimate payment due date along with tips for calculating tax under the new law. For more information, please visit the link below:...
Mississippi Sales Tax Holiday 2018
The Mississippi Sales Tax Holiday will take place between 12:01 A.M. Friday, July 27, 2018, and 11:59 P.M. Saturday, July 28, 2018. During this time, sales tax will be waived for clothing and footwear items individually priced below $100. For more information on tax...