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Taxpayers will have until July 15, 2020 to file returns and make any payments originally due on April 15, 2020. Interest and late filing penalties will not be applied to returns filed and payments made on or before this extended due date. The October 15, 2020, six-month extension date for the calendar year 2019 return remains unchanged. Any annual state and city income tax returns and payments otherwise due on April 30, 2020 will instead be due on July 31, 2020. Any annual state and city income tax returns and payments otherwise due on April 15, 2020 will instead be due on July 15, 2020.
The tax relief postpones various tax filing and payment deadlines that occurred starting on September 7, 2020. As a result, affected individuals and businesses will have until January 15, 2021, to file returns and pay any taxes that were originally due during this period.
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This means individuals who had a valid extension to file their 2019 return that will end October 15, 2020, will now have until January 15, 2021, to file their 2019 returns. However, tax payments related to these 2019 returns were due on July 15, 2020, and thus those payments are not eligible for this relief. This means individuals who had a valid extension to file their 2019 return due to run out on October 15, 2020, will now have until January 15, 2021, to file. The IRS noted, however, that because tax payments related to these 2019 returns were due on July 15, 2020, those payments are not eligible for this relief. CDTFA is providing a three-month extension for a tax return or tax payment to any businesses filing a return for less than $1 million in tax.
If you expect to owe income taxes, you can pay online at the Oregon Revenue Online site and you will not have to mail in your payment voucher form. However, if you are making a payment by check or money order, you must complete Form OR-40-EXT and check the “Extension Payment box” on eFile.com.
Unpaid income and franchise tax originally due April 15, 2020, will not accrue interest or penalties until July 16, 2020. Returns due on any other date will accrue interest and/or penalties from the unextended due date of the return.
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However, because 2019 income tax payments were due on July 15, those payments are not eligible for this relief. The January 15, 2021 deadline also applies to quarterly estimated income tax payments due on September 15, 2020, and the quarterly payroll and excise tax returns normally due on November 2, 2020. It also applies to tax-exempt organizations, operating on a calendar-year basis, that had a valid extension due to run out on November 16, 2020. Businesses with extensions also have the additional time including, among others, calendar-year corporations whose 2019 extensions run out on October 15, 2020. The Oregon Department of Revenue announced late Wednesday, March 25, 2020, that the state of Oregon will officially extend the deadline for certain tax payments until July 15, 2020. This automatic Oregon tax filing and payment deadlines extension incorporates some but not all of the elements of the federal income tax filing and payment deadlines extension announced last week in response to the COVID-19 pandemic.
Corporate excise/income or personal income tax returns required to be filed with respect to an estate or trust pursuant to ORS 316.267 to ORS 316.317 are eligible for the aforementioned relief. The Department will lower the interest rate from 18% to 12% on unpaid balances on sales and use tax returns due March 31 and April 30, 2020. This relief does not apply to employer withholding tax returns and payments or to any other tax collected by the Tax Commissioner. Identified businesses with a monthly Sales and Use Tax payment due March 20, 2020, have until April 20 to make that payment. These businesses should still file their return by March 20. At this time, this grace period for penalty and interest is only for monthly filers and only for the March 20 payment. Businesses can request additional relief from penalty and interest for reasonable cause after April 20.
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The filing and payment deadline for Illinois income tax returns has been extended from April 15, 2020, to July 15, 2020. This automatic extension applies to all individual returns, trusts, and corporations and no additional forms required. The deadlines that are pushed back include the October 15, 2020, due date for filing a 2019 income tax return that was extended .
For taxpayers choosing to defer their first quarter 2020 liability, for example, up to $50,000 of the obligation would now be paid in 12 monthly installments, with the first payment not due until July 31, 2020. Individuals and businesses in a federally declared disaster area who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on either the return for the year the loss occurred , or the return for the prior year . Be sure to write the FEMA declaration number – 4562 − for the wildfires in Oregon on any return claiming a loss. The last day to file – you will not face late filing penalties – and claim your 2020 Oregon Income Tax Return Refund. This deadline does not apply if you owe 2020 Income Taxes. The Oregon returnfilingdue date for tax year 2019 is automatically extended from April 15, 2020 to July 15, 2020. Securities offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Investment advisory services offered through Avantax Advisory ServicesSM. Insurance services offered through an Avantax affiliated insurance agency.
The tax relief is part of a coordinated federal response to the damage caused by wildfires and straight-line winds and is based on local damage assessments by FEMA. For information on disaster recovery, visit disasterassistance.gov.
The January 15 extended deadline also applies to quarterly payroll and excise tax returns normally due on November 2. Various other due dates for business tax filings and payments are extended, too. WASHINGTON — Victims of the Oregon wildfires and straight-line winds that began on September 7 now have until January 15, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. Oregon individual income tax returns are due by April 15. If you cannot file by that date, you can get a state tax extension.
Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. Individuals and corporations that file their return or request an extension of time to file by July 15, 2020, will automatically avoid interest and penalties on the tax paid by July 15.
Oregon
Penalties may be waived for causes beyond the taxpayer’s control. Estimated payment dates for personal income tax are not extended but the department may waive interest if imposing the interest would be against equity and good conscience. Because of the extension of the due dates for filing returns and making payments, any interest and penalties with respect to Oregon tax filings and payments extended by this order begin accruing on July 16, 2020. Underpayment interest will not apply to calendar-year 2019 income/franchise tax or 2019 pass-through withholding tax returns or returns with a due date of April 15, 2020. In addition, the first estimated income/franchise tax payment for 2020 that is due April 15, 2020 is extended to July 15, 2020. Underpayment interest will begin July 16, 2020 for this first estimated tax payment.
The Tax Announcement applies to individuals, trusts and estates, corporations, and other non-corporate tax filers as well as those who pay self-employment tax. The relief applies solely to returns and payments for Tax Year 2019 due from April 20, 2020 to June 20, 2020 and does not include estimated income tax payments for the 2020 taxable year.
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On April 20, 2020, the Oregon Department of Revenue (“DOR”) issued Revenue Director’s Order (“Order ”). This comes nearly one month after the DOR issued Revenue Director’s Order on March 24, 2020.
As of July 10, the agency has received just over 1.8 million returns thus far. The later deadline is not unexpected, given the fact that Oregon often moves in lockstep with federal tax decisions. The move is designed to give taxpayers a bit more stability as the economy continues to slide, but it could create difficulties at a time the state is preparing to pass a big relief package for Oregonians impacted by the COVID-19 epidemic. “We have agreed to allow extensions,” Brown told reporters Wednesday, noting that corporations and others making estimated tax filings for the current tax year must still pay by April 15.
Your selected PDF file will load into the DocuClix PDF-Editor. Complete voucher Form OR-40-V and attach it to your check or money order payable to “Oregon Department of Revenue”. Write your last four Social Security number and “2020 Form OR-40-V” on the check.
- Avantax Wealth ManagementSM is not responsible for and does not control, adopt, or endorse any content contained on any third-party websites.
- Tax Year 2019 Business Tax and Interest & Dividends Tax Returns are due on April 15, 2020.
- eFile.com offers these payment options for the convenience of all tax payers.
- Alternatively, you can pay Oregon income taxes here prior to filing (e.g in the case of an extension).
Income tax refund claims – The statute of limitations for filing an income tax refund claim for tax year 2016 is also extended. Normally, a claim for refund must be filed by three years from the due date of the return. Due to the state of emergency, claims for refund from tax year 2016 must be submitted on or before July 15, 2020.
We will continue to track federal, state, and local tax issues as events evolve in light of COVID-19. In the meantime, if you have any questions or comments about the Oregon CAT, or other state and federal tax issues, please do not hesitate to contact Dan Eller or Alee Soleimanpour. “ by the 15th of this month, if they owe taxes, that has to be paid,” Hoover said. Lawmakers in recent days have voiced concern that a delay in the tax deadline could deprive the state of hundreds of millions of dollars in the short term — money that Oregon might wind up having to borrow instead.
An Oregon personal extension will give you 6 more months to file your return, moving the deadline to October 15. For Accelerated Sales Tax prepayments, the Department of Revenue is waiving penalties for businesses that are required to make Accelerated Sales Tax prepayments by the deadline of Friday, March 20. Additionally, for April sales tax payments, the department is waiving the AST prepayment requirement and asking businesses to simply remit the sales tax that they have collected in March. Personal Income Tax – Tax return deadline is tied to the federal deadline so the state will automatically connect to any changes issued by the IRS.
This also applies to deadlines for filing a written objection or request for conference that expire on or after April 1, 2020, and before July 16, 2020. The Oregon return filing due date is automatically extended until July 15, 2020, for any returns with a valid six-month extension period ending on or after April 1, 2020, and before July 15, 2020. The Oregon Department of Revenue anticipates receiving more than 2 million tax returns in a year.
