The Mississippi Department of Revenue has announced that it will once again extend due dates for tax returns as well as estimated payments from May 15, 2020, to July 15, 2020. The extension applies to individual income tax, corporate and franchise tax and fiduciary tax returns. This is in response to the effects of the current COVID-19 pandemic and is likely welcomed by most practitioners with clients in the state.
In March, the IRS announced that the federal filing deadlines would be extended to July 15, 2020. However, Mississippi initially only extended its deadline to May 15, 2020. This one-month extension was met with a lot of resistance from practitioners in the state, especially as Mississippi requires that you attach a federal return with your state return when filing.
The latest extension effectively makes the due date the same for both returns. If you are a practitioner that has been dealing with the stress of meeting the May deadline, you can rest easy — at least until July.
Several other states have announced filing deadline extensions and the AICPA is tracking and updating those daily here.
The full Mississippi notice can be found here.
HORNE will continue to serve our clients throughout the COVID-19 pandemic and provide any assistance needed. Please feel free to contact me or a member of the HORNE Tax team if you have any questions.