Access the latest MSCPA articles plus other news and events.
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Update on Deduction of COVID Related Expenses Legislation
The State tax treatment to align with federal are now in effect for the COVID related loans and grants addressed in the 2022 legislation as follows:
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Salt Cap Workaround for Pass-through Entities Passes Legislature
By John Fletcher, Partner JONES WALKER LLP
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Legislation Creates Study Committee on Taxation of Internet-based Software
SB2831 which passed in the Legislative session created the Taxation of Remote and Internet-Based Computer Software Products and Services Study Committee to examine and develop recommendations regarding the taxation of remote and internet-based computer products and services under the Mississippi Sales Tax Law and the Mississippi Use Tax Law.
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MSCPA & AICPA Advocate For Immediate IRS Service Issues Relief
IRS to Offer Limited Taxpayer Relief in Response to Backlogs
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Mandatory Electronic Filing of Form 990-T – MS Form 83-105 Modification Granted
The MSCPA, working with members of the Not-for-Profit Committee, was able to get the State to modify the requirement of an officer’s social security number to be disclosed on Form 83-105.
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MSCPA Advocates For State Tax Code Revisions For COVID Funds in 2022 Legislative Season
2021 Filing Season Impacted
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MSCPA Meets With MDOR on Members’ Issues Including Schedule C Verifications
Members of the Taxation Committee and President/CEO Karen Moody held a phone conference with Commissioner Graham and Jan Craig to discuss some of the concerns raised on our CONNECT forum.
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HB1446 Passes Allowing Expense Deductions for B2B Grants, EIDL Advances, MS Rental Assistance Payments, and PPP#2 Loan Forgiveness
The House and Senate adopted MSCPA’s HB1446 March 28 with MSCPA successfully amending the bill to include the deductions of expenses for EIDL advances(grants) and MS Rental Assistance Payments, in addition to MS Back To Business (B2B) grants for Mississippi purposes. The Governor signed the bill on April 14.
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MSCPA Advocacy Efforts Bring Results During the Pandemic
MSCPA continually works to protect the profession by advocating for favorable legislation and against bills and actions that are detrimental. The pandemic sent our efforts into overdrive as we fought on both the State and Federal levels to protect and ease the burdens on our members and their clients.
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Governor Reeves Announces Department of Revenue Appointment
Governor Tate Reeves announced Chris Graham as his appointment for Commissioner of the Mississippi Department of Revenue (DOR). Chris has a proven history of fighting for our state and handling complex administrative and accounting battles—having served in offices from the Mississippi Legislative Budget Office and Mississippi Ethics Commission to 17 years of legal experience as an attorney.
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