Tax Law Blog
February 18, 2010 / Reorganization of the Mississippi State Tax Commission
Effective July 1, 2010, the Mississippi State Tax Commission (MSTC) will be reorganized into the Department of Revenue, which will be responsible for administration, and an independent Board of Tax Appeals to hear administrative appeals. Read Full Article »
January 26, 2010 / 2009 Deductions Allowed for Haiti Earthquake Donations Made Before March 1, 2010
On January 22, 2010, President Obama signed into law H.R. 4462, which allows taxpayers to claim charitable deductions on their 2009 tax return for contributions made for Haitian earthquake relief, even if the donations were made after January 1, 2010 (although no later than March 1, 2010). Read Full Article »
December 16, 2009 / Tax Court Case Finds for Storm Victims, and Provides Insight to Future Claims
A recent Tax Court case demonstrates how, aside from insurance-related issues wholly separate from this case, accurately evidencing losses from weather damage, by the use of photographs or video, is extremely helpful in establishing the condition and value of the damaged property. Read Full Article »
November 23, 2009 / New Expansion of NOL Carryback Period Provides Unique Opportunities
On November 6, 2009, President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 (the “Act”) into law. This new law provides new and extended tax incentives for both individuals and business. One great new business incentive is the election of the optional longer net operating loss (“NOL”) carryback period allowable for most businesses. Read Full Article »
November 11, 2009 / 2009 Mississippi Property Tax Notices Will Soon Be Mailed
Tax notices for real and business personal property will soon be mailed to the owners of such property located in Mississippi as of January 1, 2009. Therefore, if an owner bought a piece of real or personal property in 2009, the tax bills may be mailed and forwarded to the previous owner. If unpaid, interest will accrue after February 1, 2010 at the rate of 1% per month. Read Full Article »