The Mississippi Department of Finance & Administration (DFA) is administering programs related to the CARES Act pursuant HB1790, HB1791, HB1793, and HB1794.
The Consolidated Appropriations Act, 2021, extended the period during which recipients may incur eligible costs that may be covered using payments from the Coronavirus Relief Fund (CRF) to December 31, 2021 (Division N, Title X, Section 1001). President Trump signed the legislation on December 27, 2020, and the change was effective immediately.
References to “December 30, 2020” in Treasury guidance dated September 2, 2020 (https://home.treasury.gov/system/files/136/Coronavirus-Relief-Fund-Guidance-for-State-Territorial-Local-and-Tribal-Governments.pdf) and Frequently Asked Questions dated October 19, 2020 (https://home.treasury.gov/system/files/136/Coronavirus-Relief-Fund-Frequently-Asked-Questions.pdf) should be read as “December 31, 2021” in all instances related to the use of funds to cover costs incurred under Section 601(d)(3) of the Social Security Act. Treasury will update its guidance to reflect this change to the statute in the near future.
As the Mississippi State legislature through HB 1814 (2020 Regular Session) required all CRF funds to be expended by December 15, 2020 with any remaining funds to be transferred to the Unemployment Compensation Fund by December 30, this federal change only applies to advance funding received by subrecipients by December 15, 2020.
Effected subrecipients will not be required to execute a new Grant Agreement.
1099-G Tax Information for CARES Payments:
Forms 1099-G were issued for Calendar Year 2020 to businesses and individuals who received CARES Act awards for various state programs. The Mississippi Legislature authorized legislation in 2020 to ensure funds awarded were not taxable by the State of Mississippi. However, the IRS has deemed these funds are generally not excludable from gross income and are taxable for federal tax purposes.
Please see the IRS FAQs regarding CARES Act funds awarded by states:
For questions regarding the amounts reported on your Form 1099-G:
- Business Relief payments (generally $2,000), contact the Department of Revenue (DOR) at 601-923-7700.
- Back to Business payments (generally $3,500), contact the Mississippi Development Authority (MDA) at 601-359-6683.
- Awards exceeding $5,000, contact Department of Finance and Administration (DFA) at 601-359-2160.
Organizations that have requested advance funds have monthly reporting requirements to complete. The organizations must submit financial and performance status reports. The financial reports will detail the payroll and other expenses the organizations have incurred and spent. The performance status reports will describe how the funds were used, including specific deliverables achieved, and progress against the objectives and outcomes expected to be achieved. On a monthly basis, Organizations will need to complete the following documents:
- Summary financial and performance status report form
- Financial payroll expenditure report form
- Financial nonpayroll expenditure report form
The reports are due by the following dates:
- September 21, 2020
- October 20, 2020
- November 20, 2020
- December 21, 2020
- January 20, 2021
- February 20, 2021
- March 20, 2021
For questions regarding these programs, please email firstname.lastname@example.org. Assistance is available Monday - Friday; 8:00 AM - 4:30 PM CST except State holidays.
Please review the U.S. Treasury Guidance and Frequently Asked Questions for State, Local and Tribal Governments for additional information.