Access the latest MSCPA articles plus other news and events.
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MDOR Provides Guidance on Pressing Tax Issues
Due to the numerous questions received from our members regarding the tax treatment of various COVID-related relief provided by Federal and State Governments, MSCPA sent an inquiry to the MS Department of Revenue to request guidance on how MDOR interprets the taxability of such COVID-related relief and whether the related expenses would be deductible.
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Tax Day for Individuals Extended to May 17: Treasury, IRS, MDOR Extend Filing and Payment Deadline
The Treasury Department and Internal Revenue Service announced March 17 that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.
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Update on Mississippi Income Tax Repeal Bill
The Senate, on March 16, refused to consider House Bill 1439, the Mississippi Tax Freedom Act, which killed it due to a legislative deadline.
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MDOR Guidance on Federal Unemployment Exclusion in the American Rescue Plan Act
The American Rescue Plan Act enacted on March 11, 2021, provided an exclusion from income of up to $10,200 of unemployment compensation paid in 2020.
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CPA Evolution Update
CPA Evolution is a joint initiative of the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA).
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HB1446 Introduced to Address Deduction for B2B MS Grant Program Eligible Expenses
As a result of our advocacy efforts, MSCPA was successful in getting HB1446 introduced which will allow deduction for Back to Business (B2B) Mississippi Grant Program eligible expenses.
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Julia Jesuit Rising Star
Julia Jesuit, Senior Manager of Healthcare Reimbursement & Advisory at HORNE LLP, has been named the 2019 MSCPA Rising Star and was recognized during the Business Meeting at Convention on Saturday, June 22.
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Charles Lindsay Public Service Award Winner
Charles Lindsay, Shareholder at Matthews, Cutrer and Lindsay, P.A., has been selected as the 2019 MSCPA Public Service Award winner and was recognized during the Annual Business Meeting on Saturday, June 22.
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Henry Thomas Outstanding Educator
Henry Thomas, Instructor of Accounting at Jackson State University, has been named the 2019 MSCPA Outstanding Educator and was recognized during the Business Meeting at Convention on Saturday, June 22.
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Next Stop for Tax Reform: The Oval Office
Recently, both houses of Congress passed a tax reform bill titled “To provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018,” also known as the Tax Cuts and Jobs Act. The legislation is now bound for the President’s desk. After a Senate and House conference committee reviewed the preexisting bills from both houses, a number of changes and consolidations were made to create the final bill.
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