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Tag Archives: IRS

Lawmakers, small businesses take steps to blunt IRS rule

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By JACK WEATHERLY  Lisa Cochran, owner of two hair salon and spa shops called The Studio in Hattiesburg, said that she has been helping her employees for years by contributing $50 a month toward their health coverage premiums. Then she saw an article in the Mississippi Business Journal and has taken steps to avoid a calamity. She realized that she ...

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IRS drops a bomb on small employers

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» Annual tax would be $36,500 per worker for noncompliance with Obamacare By JACK WEATHERLY  Employers with fewer than 50 employees were promised a break by not having to provide group health insurance under the Affordable Care Act. But now the IRS has served notice that under the rule that has been in effect since July 1 such employers are ...

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IRS plan to require tax forms for wins of $600

BILOXI — Casino operators in South Mississippi are coming out against an IRS proposal that would require players to file tax forms any time they win $600 or more on slot machines, keno or bingo. The threshold currently is $1,200. Hit that amount or higher and the slot machine freezes and stays locked until the Internal Revenue Service form is ...

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Mississippians have $9M in unclaimed 2011 tax refunds

JACKSON — More than 11,000 Mississippians have more than $9 million in federal tax refunds awaiting them for the 2011 tax year. However, the one catch is that the individuals must file a tax return for the 2011 year by April 15 of this year, says IRS spokesman Mark Green of Atlanta. The IRS estimates that the median unclaimed refund ...

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Doctor convicted of using phony church for tax shelter

PASS CHRISTIAN — A Pass Christian doctor has been convicted of tax evasion for using a phony church as a tax shelter. Timothy Dale Jackson, a 50-year-old orthopedic physician, has been found guilty on four counts of felony tax evasion and one count of obstruction of the due administration of the internal revenue laws. Prosecutors say Jackson funneled his income ...

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Court ruling on Section 42 leaves taxpayers on hook for tax repayments

JACKSON — While some 14 Mississippi counties owe Section 42 housing developers millions in over-charged taxes, Hinds County’s taxpayers are not exposed to such refunds as the tax assessor has levied assessments according to the state law. Tax Assessor Charles Stokes said Hinds County taxpayers can rest assured his office has calculated property taxes appropriately. “It’s the law and we ...

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Setting up a nonprofit organization requires passion, patience

Jeffery Duplessis has a passion for nonprofits. After spending some 20 years in the media, he is now communications and training coordinator at the Mississippi Center for Nonprofits in Jackson helping others launch their charitable concerns. He said he finds his work immensely rewarding, but has seen too many individuals who have started working toward opening a nonprofit only to ...

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Waveland businessman guilty of failing to file taxes

WAVELAND — A Mississippi vendor for the Orleans Parish Sheriff’s Office in Louisiana has pleaded guilty to failing to file taxes. U.S. Attorney Kenneth Polite Jr. says 36-year-old Kendall O. Marquar, of Waveland, entered the plea Tuesday before U.S. Magistrate Judge Sally Shushan to one count of willfully failing to file taxes. According to court documents, from 2000 to 2012 ...

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TAXES — It’s time for businesses of all sizes to start gathering records before filing

It’s a new year and time to get down to the nuts-and-bolts of tax season. Best advice? IRS spokesperson Dee Harris Stepter said, “Of course, what everyone should be doing is getting their records together so they can be ready to file.” The IRS will begin accepting 2013 business tax returns on Jan. 13. That goes for both electronically-filed and ...

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