Normally, Mississippi individual income tax returns are due April 15—but these are not normal times. In responding to the COVID-19 pandemic, the state has moved the deadline twice.
In March, the state moved the deadline to file and pay 2019 individual income tax to May 15, 2020. First quarter 2020 Mississippi estimated tax payments were also extended to May 15.
However, the due date was later extended to July 15, 2020. Both first quarter and second quarter estimated Mississippi tax payments were also pushed back to July 15. This matches the due date for federal income tax returns and estimated tax payments for the first half of the year.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Filing Extensions Beyond July 15
If you're unable to file your Mississippi tax return by July 15, and you expect to owe state tax, then you should file for an extension to October 15, 2020. The only way to file for a Mississippi extension is to file Form 80-106. Make sure you check the "Extension Payment" box and submitting the estimated amount of tax due.
If you don't expect to owe a tax, then you don't have to do anything. That includes sending a federal tax return extension form to the Mississippi Department of Revenue (they can't process the federal form).
Be warned, though, that an extension of time to file your return is not an extension of time to pay the tax due. Any tax due after July 15, 2020, is subject to a late payment penalty of 0.5% per month (not to exceed 25%) and interest of 0.5% per month. Plus, a Mississippi return that isn't filed by October 15 is subject to late filing penalty of 5% per month (not to exceed 25%).
-
Don't Waste Your Money on Bad Gifts. Try This Instead.Holiday Happiness These strategies, backed by behavioral finance, can help you find presents that your loved ones will truly enjoy.
-
5 Unique Book-Inspired Trips Across AmericaThere are five great trips to take across America that can immerse you in the culture of your favourite books.
-
Capital Gains Tax Quiz: How Well Do You Really Know IRS Investment Tax Rules?Quiz Take our capital gains tax quiz to test your investment taxes knowledge. Learn about loss rules, holding periods, and tax incentives that could impact your savings.
-
6 Tax Reasons to Convert Your IRA to a Roth (and When You Shouldn't)Retirement Taxes Here’s how converting your traditional retirement account to a Roth IRA can boost your nest egg — but avoid these costly scenarios.
-
Could Tax Savings Make a 50-Year Mortgage Worth It?Buying a Home The 50-year mortgage proposal by Trump aims to address the housing affordability crisis with lower monthly mortgage payments. But what does that mean for your taxes?
-
3 Ways High-Income Earners Can Maximize Their Charitable Donations in 2025Tax Deductions New charitable giving tax rules will soon lower your deduction for donations to charity — here’s what you should do now.
-
An HSA Sounds Great for Taxes: Here’s Why It Might Not Be Right for YouHealth Savings Even with the promise of ‘triple tax benefits,’ a health savings account might not be the best health plan option for everyone.
-
New RMD Rules: Can You Pass This Retirement Distributions Tax Quiz?Quiz Take our RMD quiz to test your retirement tax knowledge. Learn about RMD rules, IRS deadlines, and tax penalties that could shrink your savings.
-
10 Retirement Tax Plan Moves to Make Before December 31Retirement Taxes Proactively reviewing your health coverage, RMDs and IRAs can lower retirement taxes in 2025 and 2026. Here’s how.
-
When to Hire a Tax Pro: The Age Most Americans Switch to a CPATax Tips Taxpayers may outsource their financial stress by a specific age. Find out when you should hire a tax preparer.
