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PORTLAND, Ore. With a nearly $1.9 billion tax surplus, Oregon taxpayers will be seeing a kicker credit on their taxes in the 2021 year. Instead of checks, the state Office of Economic Analysis says the surplus will go back to Oregonians through a credit on their 2021 state personal income taxes filed in 2022.
The kicker law is unique to Oregon. To calculate the amount of your credit, multiply your 2020 tax liability before any credits line 22 on the 2020 Form OR-40 by 17.341%, a percentage determined by OEA.
Oregon tax law provides refunds to taxpayers if personal income tax revenues are at least 2% above initial projections during a two-year budget cycle. Taxpayers can claim the kicker if they filed a 2020 tax return and had tax due before credits.
Choose a quarterly report filing method:Oregon Payroll Reporting System (OPRS) electronic filing.Combined Payroll Tax Reports Form OQ.Interactive voice response system, call 503-378-3981. Use only to report quarters with no payroll or no hours worked.
To calculate the amount of your credit, multiply your 2020 tax liability before any credits line 22 on the 2020 Form OR-40 by 17.341 percent. This percentage is determined and certified by OEA.
File Form OR-WR on Revenue Online at . Mail your Form OR-WR separately from your 2018 4th quarter Form OQ and 4th quarter statewide transit tax form. If you amend Form OR-WR, you will also need to amend Form OQ and 4th quarter statewide transit tax form. Make a copy for your records.
To claim the surplus "Kicker" credit on your 2021 Oregon return, please follow the steps listed below.Log into the account.Edit the Oregon return.Credits.Refundable Credits.Surplus Credit (Kicker)Complete the necessary information from your 2020 return to have the credit applied to your 2021 return.
Requirements and penalties Required 1099s are the 1099-G, 1099-K, 1099-NEC, 1099-MISC, 1099-R, and W-2G. Other 1099s, including 1099-DIV and 1099-INT, are not required.
Oregon taxpayers will receive 'kicker' rebate on 2021 tax returns thanks to $1.9 billion surplus. SALEM, Ore. Many state taxpayers will receive a surplus tax credit from Oregon's idiosyncratic "kicker" program, the Oregon Department of Revenue confirmed on Tuesday, thanks to a tax surplus of nearly $1.9 billion.
To file the Form WR electronically, as required under ORS 316.202 and ORS 314.360, you must do so using Department of Revenue's system, Revenue Online by going to this link: .