Treasurer David McRae
By: State Treasurer David McRae
It surprises many to learn that even as the State Treasurer, I don’t have much to do with tax season. Instead, that responsibility falls on the U.S. (not Mississippi) Treasury and the Mississippi Department of Revenue. Nonetheless, I want to be helpful to those who have pressing tax-related questions, so today let me run through a few tips to make filing your taxes a little bit easier.
First and foremost, be prepared. Before starting, collect your 2021 tax records. You likely received many of these documents by mail in the last few weeks. In addition to any tax forms received, you’ll need Social Security numbers, Adoption Taxpayer Identification Numbers, and this year’s Identity Protection Personal Identification Numbers (if applicable). Many Mississippians may have also received IRS letters about advance Child Tax Credit Payments (Letter 6419). Retain this letter. It will help in preparing your federal tax return.
Once you’ve collected the appropriate documents, file a complete return online. Choosing direct deposit during this process will help ensure the fastest refund. If choosing direct deposit, make sure to have your bank routing and account numbers handy.
Tax prep software can help ensure your return is accurate as well. What’s more, Mississippians who make less than $73,000 annually may be eligible to use guided tax preparation software and file their taxes for free through the IRS’s Free File system. To learn more, visit IRS.gov.
Even with software, however, I know many Mississippians will have questions before filing. The IRS does have Tax Assistance Centers throughout Mississippi, including locations in Columbus, Gulfport, Jackson, and Tupelo, if you’re looking for in-person help. For support on state tax returns, visit dor.ms.gov, the Mississippi Department of Revenue’s (DOR) website.
And while it is the IRS and DOR who are directly responsible for resolving your tax-related problems, I did want you to know your State Treasury may be able to help you save a little extra during this year’s filing. More specifically, many taxpayers are able to deduct a portion of their 529 college savings account contributions. In most cases, these contributions simply need to be made by April 15, 2022 to be used as a deduction on this year’s return. In other words, you still have time. To see if you qualify, please contact a tax professional.
Good luck during the upcoming tax season.
About the Author(s)
More Like This
2023 PGA University Championship coming to Mississippi
The Championship will be held at Dancing Rabbit Golf Club in Philadelphia, Mississippi. The PGA of America announced on Wednesday that the Dancing Rabbit Golf Club at Pearl River Resort in Philadelphia, Mississippi will host the 2023 PGA University Championship set for November 13-15. The 36-hole Championship, supported by Srixon/Cleveland Golf, will feature 90 players…
More From This Author
Mississippi Court of Appeals judges take oaths to begin new terms
Chaney appoints Dolan as Chief Deputy Fire Marshal
Mississippi PSC releases Public Utility Infrastructure Review Report
Missing this during home maintenance can be costly
Roof maintenance is key to making sure your home is in its best condition now and in the future. Homeowners know that owning a house means much more than just signing papers and moving in. The home needs to be maintained in order to stay in tip-top shape for years to come, as well as…
Two Mississippi natives change the game for the Kansas City Chiefs
The former Mississippi State Bulldogs leaving their mark on the way to the Super Bowl. With the Kansas City Chiefs earning their third Super Bowl appearance in four years by beating the Cincinnati Bengals 23-20 on Sunday, a new dynasty could be on the horizon. Although most would contribute this success to MVP candidate Quarterback…