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Don't Miss the April 17th Tax Deduction Deadline
You may be eligible to deduct up to $10,000 ($20,000 for married couples filing jointly) from your 2011 Mississippi State income tax by contributing to the Mississippi Affordable College Savings Program (MACS), Mississippi's 529 college savings program. (Recapture provisions apply.)* While contributions made prior to April 17th are eligible for deduction on the preceding year’s tax return, all contributions are credited based on the calendar year received. However, we will gladly credit your pre-April 17th contributions to the previous calendar year upon request.
- Contribution checks postmarked by April 17th are credited as a current year (2012) contribution unless the account owner specifies otherwise.
- Phone contributions made prior to 4:00 p.m. (ET) on April 17th are credited as a current year (2012) contribution unless the account owner specifies otherwise.
- Contributions made online or through ACP (Automated Contribution Plan) by 4:00 p.m. (ET) on April 17th are automatically credited as a current year (2012) contribution.
Please review your confirmation statements and quarterly statements upon receipt to ensure the contribution year is correct for your records. Account owners who would like to change their contribution year, may do so by contacting a Mississippi Affordable College Savings Program specialist at 1-800-486-3670 or in writing to the Mississippi Affordable College Savings Program, P.O. Box 55037, Boston, MA 02205-5037, by December 31, 2012.
*Please read the Disclosure Booklet for full details on the state tax deduction guidelines.
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