Don't Miss the Tax Deadline-Make Your Contribution Online
You may be eligible to deduct up to $10,000 ($20,000 for married couples filing jointly) from your 2007 Mississippi State taxable income by contributing to the Mississippi Affordable College Savings Program (MACS), Mississippi's 529 college savings program. If a nonqualified withdrawal is taken from the MACS Account, the portion of the withdrawal attributable to contributions that were previously deducted for Mississippi income tax purposes, as well as the earnings portion of the withdrawal, will be included in computing the Account Owner's Mississippi taxable income for the year in which the nonqualified withdrawal is paid. Contribution checks postmarked by April 15th will automatically be credited as 2007 unless the account owner specifies otherwise.

Phone contributions made prior to 4:00 p.m. (ET) on April 15th may also count towards the 2007 tax year. Make sure you identify whether your contribution is prior year or current year. If you do not specify, your contributions will be credited as prior year (2007).

Contributions made online or through ACP (Automatic Contribution Plan) by 4:00 p.m. (ET) on April 15th will be credited as current year contributions (2008). If your contribution was intended as a prior year, you will need to contact a college savings plan specialist.

Please review your confirmation statements and quarterly statements upon receipt to insure the contribution year is correct. Account owners who would like to change a contribution made by the tax filing deadline to prior or current year, may do so by contacting a MACS college savings plan specialist at 1-800-486-3670 or in writing to the Mississippi Affordable College Savings Program, P.O. Box 55037, Boston, MA 02205-8683, by December 31, 2008.

The tax information contained herein is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed herein. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Neither TIAA-CREF nor its affiliates offer tax advice. See your tax advisor regarding your personal situation.

^*Please read the Disclosure Booklet for full details on the state tax deduction guidelines.
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