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Recession hits taxpayers hard: but, Mississippi taxpayers seem to have been prepared.

Publication: Mississippi Business Journal
Publication Date: 27-APR-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The effects of the recession on consumers were more than apparent during this past federal income tax filing period. As April 15 approached, various entities were reporting that the number of taxpayers filing returns was well below previous levels, extension requests were high and those asking for more time to pay their taxes were soaring.

In early April, the IRS reported that the number of returns filed was down nearly five percent compared to the comparable period last year.

At the same time, the number of taxpayers filing for extensions spiked. FileLater, which offers online extension filings, said it filed more extensions through March than it did all of last season, and was receiving five times the traffic on its Web site...

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