Access the latest MSCPA articles plus other news and events.
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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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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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MS Back-to-Business Liability Assurance Act Signed by Governor
Legislation that will help protect businesses and healthcare providers against frivolous COVID-19-related claims was signed by Governor Reeves on July 8. A coalition of business groups spearheaded by BIPEC and MEC, of which MSCPA is a member, lead to pass what is known as the “Mississippi Back-to-Business Liability Assurance Act” in SB3049. This important act will preserve both justice and economic recovery in Mississippi by enacting reasonable safeguards against a potential surge of coronavirus lawsuits.
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MDOR EXTENDS TAX FILING AND PAYMENTS TO JULY 15
After continuing to advocate for an extension that coincides with the federal extension, MSCPA notified members via email on May 6 that the Mississippi Department of Revenue (MDOR) revised the filing deadline decision of May 15 and released the following notice extending the tax filing deadline to July 15.
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MDOR Responds to MSCPA Requests for Relief of Tax Deadline
he MSCPA Taxation Committee, Executive Committee and members have been actively working with MDOR and State leadership to extend the tax filing deadline. MSCPA leadership sent a letter to MDOR Commissioner Frierson requesting that MDOR extend Mississippi's individual tax filing and payment deadlines to align with all due dates established for Federal filings as closely as possible in order to alleviate the strain on our members and their clients and to eliminate confusion.
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MSCPA Advocates for Accounting as Essential Service
As a precautionary and proactive move, MSCPA sent Governor Reeves a letter March 21, requesting accounting services be designated as an essential service if an order to shelter-in-place is issued.
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A Fiscal Reality: MSCPA and AICPA Support the Fiscal State of the Nation Resolution
The U.S. government’s balance sheet indicates that, over time, the nation had an accumulated deficit (from annual shortfalls) of $21.5 trillion as of September 30, 2018. To put that in perspective, if you made a stack of 21.5 trillion $1 bills, you would be able to go to the moon and back more than three times.
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