From steve.purkeypile at state.or.us Thu Apr 2 08:56:41 2009 From: steve.purkeypile at state.or.us (PURKEYPILE Steve) Date: Thu, 2 Apr 2009 08:56:41 -0700 Subject: [Revenews] NOL - Personal Income Tax Message-ID: <3EC90E1F764DDD4386E89207DF99251E020ED23B@EXCHANGE2.dor.local> Oregon Department of Revenue Personal Tax and Compliance Division Program Services Section Policy & Systems Unit Tax Policy Update 04/02/09 Net Operating Loss (NOL) - Personal Income Tax For personal income tax purposes, Oregon is connected to the federal NOL carryback rules that were recently updated by the American Recovery and Reinvestment Act of 2009. NOL carrybacks and carryforwards are covered under ORS 316.014 which provides a rolling tie to federal carryback and carryforward laws in the IRC. As of today, this statute has not been changed by the legislature. For personal income tax purposes, Oregon allows the same carryback provisions for a 2008 NOL as allowed by the IRS (which is a choice of 2, 3, 4, or 5 years carryback). The taxpayer must use the same NOL carryback or carryforward for Oregon that is used for federal purposes unless the taxpayer does not have enough income to absorb the NOL in that year. In such cases, the NOL may be carried forward consistent with federal limits. ### -------------- next part -------------- An HTML attachment was scrubbed... URL: From cathleen.m.tavares at state.or.us Tue Jun 2 10:29:19 2009 From: cathleen.m.tavares at state.or.us (TAVARES Cathleen M) Date: Tue, 2 Jun 2009 10:29:19 -0700 Subject: [Revenews] LISTSERV May 2009 Message-ID: <05DD0E9E20376243998CD4079C2E495005C1CCDE@EXCHANGE2.dor.local> Payroll Tax News Listserv May 2009 Edition Please share this information with anyone who may benefit from it... I. Reminders: A. Credit memos: Be sure to review credit notices you receive from the payroll reporting agencies. Overpayments can occur for a variety of reasons, including payments that had been incorrectly applied and tax incorrectly reported on the form OQ, such as not including 1099 withholding. Failure to do so can result in payments that were truly meant as tax payments being inadvertently refunded back to you. Billings will also be issued for taxes that had been refunded in error. It is important to ensure that there truly is an overpayment when you request a refund. If there are any questions, feel free to contact the agency that sent the credit notice for further explanation. B. Amended Returns: When submitting an amended return, be sure to provide an explanation of any substantial changes and the documentation for those changes if available. For example, if a change occurred due to incorrectly withholding taxes for Oregon, be sure to include a copy of the W2C that was issued. This information will allow for amended returns to be processed quickly and correctly. II. Important information: A. Withholding tax tables: There are no changes to the Oregon Withholding Tax tables due to the federal stimulus changes. The Withholding Tax Tables effective January 1, 2007 will remain in effect. B. Federal Help with Health Insurance Premiums: People who have lost their jobs after August 31, 2008 may qualify for this assistance. The federal government will pay 65 percent of monthly health insurance premiums for nine months for certain laid off workers who are eligible to continue their employer health plan under federal COBRA law or Oregon's state continuation law. The employer has an important role in this program and the Oregon Insurance Division has details at: http://insurance.oregon.gov/consumer/consumer-issues/federal-stimulus-in fo/federal-stimulus-info.html. If you have any questions, please contact the division's consumer advocates: 1-888-877-4894. Additional News: W2 Reporting Effective for the calendar year 2009, all businesses with 250 or more employees and payroll service providers are required to report W-2 information electronically [OAR 150-316.202(3) ]. This new system is called iWire, Income and Wage Information Return E-services. The new system should be available to receive files by July, 2009. The Oregon Department of Revenue follows the same file specification for the W-2 information as the Social Security Administration with some modification. Visit the Social Security Administration's website for more information about their EFW2 and EFW2C programs. The transmittal due date is March 31, 2010. For businesses that close throughout 2009, W2s must be filed within 30 days of the business's closure. Because the electronic system is not yet available, you may hold filing W2s for closing businesses until after the system is available for you without penalty. Forms W-2 are filed electronically only; paper W-2s or other forms of media are normally not accepted unless specifically requested to reconcile an account. Also, forms 1099 are not required to be electronically filed with Oregon Department of Revenue at this time. NOTE: Large employers that do not use a payroll service and have fewer than 250 employees may also file their W-2s electronically if they choose, but will be required to file electronically starting with 2010 forms. Small employers (less than 50 employees) may also choose to file electronically now, but will be required to starting with 2011 forms. Please visit our website at http://www.oregon.gov/sites/DOR/PERTAX/iwire_info.page, call us at 503 945-8091, or e-mail us at iWire.dor at state.or.us for further information. III. Education: There is still plenty of time to participate in the Four Part Seminar entitled "NAVIGATING THE TAX MAZE: A 4-PART SERIES FOR NEW BUSINESSES AND EMPLOYERS ON TAXES AND OTHER PAYROLL DEDUCTIONS" Sponsored by: Lewis and Clark Law School Business Center Location: Portland Development Commission Times: 4:00pm-7:00pm The next class on June 4th is entitled "SSA/IRS Wage Reporting Tips" (IRS and Social Security) The final class on June 18th will be "Combined State Payroll Tax Reporting" (Department of Revenue, Employment and Workers Benefit Fund) For further information, class schedules, and to register, go to Lewis and Clarks Small Business Legal Clinic site @ http://law.lclark.edu/org/sblc, or call 503 768-6940 ***The Payrolltax-News e-mail list provides employers with complete and up-to-date payroll tax information. Employers can self-subscribe here . Representatives in the Business Division will send information to employers through this list. Employers can request additional information by e-mailing payroll.help.dor at state.or.us . As a standard practice, e-mail sent from the department will be in text form only. Department of Revenue will not open attachments because of the possibility of viruses. Questions about list content and subscription problems should be directed to the list-owner: Cathy Tavares Oregon Dept of Revenue Cathleen.M.Tavares at state.or.us 503-945-8762 -------------- next part -------------- An HTML attachment was scrubbed... URL: From cathleen.m.tavares at state.or.us Fri Jun 12 13:45:15 2009 From: cathleen.m.tavares at state.or.us (TAVARES Cathleen M) Date: Fri, 12 Jun 2009 13:45:15 -0700 Subject: [Revenews] Listserv-Payroll Tax News June 2009 Message-ID: <05DD0E9E20376243998CD4079C2E495005C1CD73@EXCHANGE2.dor.local> PayrollTax News-Special Edition June 2009 **Please share this information with anyone who would benefit from it. I. "Hear Ye, Hear ye!" Employers now have a new tool to assist them in obtaining important payroll tax information. The new blog, called "Oregon Employer Info", allows you to receive important information quickly and easily, post comments, and request additional information on any of the payroll topics presented. Please feel free to visit this new blog at http://oregonemployerinfo.blogspot.com II. "Payments made Easy": EFT (Electronic Funds Transfer) is a safe and accurate way to make your state payroll and corporation excise income tax payments. EFT greatly reduces the cost and time involved with handling paper checks and allows for quicker posting of your payments. Using the Automated Clearing House (ACH) Network, employers can choose between two payment options: ACH Debit and ACH Credit. Payments can also be made online using our WebPay System at "OregonEFT.net". For more information on EFT, please go to our website at http://www.oregon.gov/DOR/ESERV/eft.shtml Oregon also provides electronic payment options using your checking or savings account. There is no fee to use this payment option, and like EFT, payments are posted quickly and accurately. The electronic payment option is now available for a variety of tax programs. For a complete listing of all tax programs allowing electronic payments, please visit our website at http://www.oregon.gov/DOR/ESERV/epayments.shtml III. Additional news: >From the IRS: " Implementation of the final rule requiring federal contractors and subcontractors to begin using U.S. Citizenship and Immigration Services' (USCIS) E-Verify system has been delayed until Sept. 8, 2009. The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (collectively known as the Federal Acquisitions Regulatory Councils) will publish an amendment in the Federal Register on June 5, 2009, postponing the applicability of the final rule until Sept. 8, 2009. The rule was first published on Nov. 14, 2008 requiring federal contractors and subcontractors to agree to electronically verify the employment eligibility of their employees. For more information on E-Verify, visit www.uscis.gov/everify. or contact your nearest IRS office. Their main number is 800 829-1040 IV. Education: There is still time to sign up for the final class of the series "Navigating The Tax Maze..." sponsored by Lewis and Clark Small Business Law Clinic. Titled "Combined State Payroll Tax Reporting", it will be presented by the Oregon Department of Revenue, Employment Department, and Workers Benefit Fund Assessment. Location: Portland Development Commission, 222 NW Fifth Ave, Portland Time: 4:00- 7:00pm Date: Thurs. June 18th For further information and to register, please visit the Lewis and Clark website at www.law.lclark.edu/org/sblc/sblc_form.html . Space is limited, so be sure to register as soon as possible. The Payrolltax-News e-mail list provides employers with complete and up-to-date payroll tax information. Employers can self-subscribe here . Representatives in the Business Division will send information to employers through this list. Employers can request additional information by e-mailing payroll.help.dor at state.or.us . As a standard practice, e-mail sent from the department will be in text form only. Department of Revenue will not open attachments because of the possibility of viruses. Questions about list content and subscription problems should be directed to the list-owner: Cathy Tavares Oregon Dept of Revenue Cathleen.M.Tavares at state.or.us 503-945-8762 -------------- next part -------------- An HTML attachment was scrubbed... URL: From cathleen.m.tavares at state.or.us Thu Jun 18 13:34:25 2009 From: cathleen.m.tavares at state.or.us (TAVARES Cathleen M) Date: Thu, 18 Jun 2009 13:34:25 -0700 Subject: [Revenews] Important Update-iWire Message-ID: <05DD0E9E20376243998CD4079C2E495005C1CD9C@EXCHANGE2.dor.local> PayrollNews Listserv: June 2009: Important Update iWire File Specifications: We have just posted an errata sheet for the W2 file specifications and they are available now on our website. Visit our iWire General Information page for the corrected W2 file specifications as well as the new post of our W2c file specifications. If you have any questions, please email them to our technical staff at iWire.DOR at state.or.us . Please share this information as needed. Thank you. Questions about list content and subscription problems should be directed to the list-owner: Cathy Tavares Oregon Dept of Revenue Cathleen.M.Tavares at state.or.us 503-945-8762 -------------- next part -------------- An HTML attachment was scrubbed... URL: