The Oregon State legislature approved SB 880, on 6/29/09 that provides tax amnesty for state taxpayers and businesses with back taxes stemming from 2007 or later. Taxpayers who need to file or amend a tax return may complete and send in the application before the November 19th deadline (it started October 1st, 2009) in order to abate or remove penalties. Moreover, those who come forward will also benefit because the total interest amount due will be cut in half. The Oregon State Department of Revenue (ODR) states as well that unfiled tax returns or tax returns that need to be amended must be filed before 1/19/2010.
The amnesty applies to personal income taxes, Transit district taxes on self-employment, excise and corporate income taxes as well as trust and estate taxes. If you received a bill or notice of deficiency already from the ODR already for a certain year, you cannot apply amnesty benefits to those taxes from that year.
Oregon state, like many other states, passed this one time measure in order to increase tax revenues that are declining in this economic downturn. If you owe taxes, this is your chance to lower your tax liabilities inexpensively because interest will be cut by 50% and penalties are completely waived.
In order to apply for this amnesty go to the Oregon Amnesty website, and complete the application in the top left column for the years applicable to you. They even have a nice interest calculator so you can figure what you owe in interest under the amnesty program. Next, fill or amend your tax return by January 19, 2010 (write the word Amnesty at the top of each return) and pay the taxes owed plus interest.
If you have any questions regarding the Amnesty program you can contact the Oregon Dept of Revenue toll-free at 1-800-356-4222 or you can reach out to us to help with Oregon state tax problems.
