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Cancellation of Mississippi Tax Refunds Disappoints17 April 2003JACKSON, Mississippi -- As reported by the Associated Press: "Thousands of people are still attempting to get tax refunds for their Mississippi gambling losses even though a state law now prevents that, state Tax Commission officials say. "Deputy Commissioner Alice Gorman said Wednesday that income-tax forms from people trying to make the claim are being set aside for closer examination. Some of the forms will be audited, and all who claimed gambling losses should file new forms, she said. "Both in-state and out-of-state residents are applying for the refunds based on losses in Mississippi casinos. In the past, they were allowed to make the claims. "Some people who used to get income tax refunds for gambling losses are having a rude awakening, said Vicksburg accountant Jimmy Boyd. "...A Mississippi law that took effect Jan. 1, 2002, requires casinos to collect 3 percent tax on any gambler's winnings of $1,200 or more for bingo or slot machines, $1,500 for keno or $600 for table games, promotional drawings or door prizes. "Before then, the government had been collecting 5 percent of jackpot winnings -- but gamblers could try to get a refund later when they filed their state income taxes..." |