From steve.purkeypile at state.or.us Thu Oct 13 07:43:38 2011 From: steve.purkeypile at state.or.us (PURKEYPILE Steve) Date: Thu, 13 Oct 2011 14:43:38 +0000 Subject: [Revenews] A tax credit auction is coming! Message-ID: <06609B6F78832B459BC773FAB3E4EC600E98BE6602@MBX21.EXCHPROD.USA.NET> The Oregon Department of Revenue, in conjunction with the Oregon Department of Energy, will be auctioning 1,500 income tax credit certificates, worth $1,000 each. The bidding period begins October 24, 2011. The minimum bid is $950 per certificate. We'd appreciate you getting the word out to any of your clients that may be interested. To find out more information, go to our website at: http://www.oregon.gov/DOR/PERTAX/credit-auction-info.shtml Steve Purkeypile Personal Income Tax Policy Oregon Department of Revenue -------------- next part -------------- An HTML attachment was scrubbed... URL: From steve.purkeypile at state.or.us Fri Oct 21 16:18:06 2011 From: steve.purkeypile at state.or.us (PURKEYPILE Steve) Date: Fri, 21 Oct 2011 23:18:06 +0000 Subject: [Revenews] Tax Credit Auction Starts Monday Message-ID: <06609B6F78832B459BC773FAB3E4EC600E98F0155F@MBX21.EXCHPROD.USA.NET> This is a reminder that the Oregon Department of Revenue will auction off 1,500 tax credit certificates (each certificate will have a face value of $1,000) beginning Monday, October 24, 2011 at 9am. The minimum bid for each certificate is $950. For more information and to place a bid, go to our website: http://www.oregon.gov/DOR/PERTAX/credit-auction-info.shtml Steve Purkeypile Personal Income Tax Policy Oregon Department of Revenue -------------- next part -------------- An HTML attachment was scrubbed... URL: From cathleen.m.tavares at state.or.us Wed Nov 2 10:27:13 2011 From: cathleen.m.tavares at state.or.us (TAVARES Cathleen M) Date: Wed, 2 Nov 2011 17:27:13 +0000 Subject: [Revenews] OCT 2011 LISTSERV Message-ID: Payrolltax News LISTSERV Oct 2011 Please share this information with anyone who may benefit from it. I. IMPORTANT REMINDER: Workers Benefit Fund Assessment: When calculating the Workers Benefit Fund (WBF) assessment, you must include hours worked by ALL paid workers each quarter, including hours worked by workers paid on a basis other than by the hour. This includes salaried or commission employees, as well as those paid by the piece or by the mile. To calculate the number of hours worked by workers paid on a basis other than by the hour, employers need to determine "reasonable hours" for each, and include these amounts in the total number of hours subject to the WBF assessment each quarter. Information on how to determine reasonable hours can be found on the WBF website at http://www.oregon.gov/DCBS/FABS/docs/assessment.pdf, or by calling 503 378-2372. II. iWire Reminder: This is a reminder that all employers will be required to submit W2 Information electronically effective for calendar year 2011 (due March 31, 2012). The Department of Revenue will follow the same file specifications for the W2 information as the Social Security Administration. Effective for calendar year 2011, businesses with 250 or more of any one type of information return (1099*) are required to report this information electronically. This information is also due March 31, 2012 for the following: forms 1099-MISC, 1099-G, 1099-R and W2G. For more information on electronic W2 and 1099 reporting, please go to our website at http://www.oregon.gov/DOR/BUS/iwire-income-wage-information-return-eservices.shtml NOTE: Be sure to review all information including the sections on "Trouble Shooting: and Frequently Asked Questions" III. IMPORTANT! Updating address/phone numbers: New forms and tax rate information will soon be sent out to the most current business address on file. It is very important that if you had a change of address and/or telephone number in the past year that you complete a "Business Contact Change Form" located on our website at http://www.oregon.gov/DOR/forms/business/business_contact_change_form_150-211-159.pdf This new form allows you to update all contact information, including any information regarding the addition or deletion of an offsite payroll service. This will be especially important if you use either OTTER (Oregon Tax Employer Reporting) or SETRON (Secured Employer Tax Reporting Online) tax reporting systems to submit your quarterly tax reports. Updating your contact information will ensure that you are kept informed as to when the new system (the Oregon Payroll Reporting System) goes online. Failure to update your contact information prevents you from receiving the proper forms and important tax information sent to you by mail. This includes next year's Employment tax rates and any tax updates. It is also very important to update your account to take off any person or payroll provider, accountant or CPA who is no longer authorized to be given tax information or to submit information on your behalf. IV. Power of Attorney Forms: In response to the recent passage of SB 867 (aka: CPA Mobility Bill), the Power of Attorney form has been updated to include a line requiring out of state CPA's to sign "attesting that they meet the requirements to practice in Oregon". It is important to be sure that this line is signed if the form has been filled out giving the out of state CPA "authorization to represent" the taxpayer. If the POA is completed indicating "authorization to disclose" information only, this line does not need to be signed by the CPA. NOTE: This new policy applies only to out of state CPA's and attorneys. It does not apply to any other tax professionals including enrolled agents. V. Outreach /Education: Upcoming Educational Event: "LLC's and S-Corps" Chemeketa Community College SBDC 626 High St NE (corner of High and Union) Salem OR Date/Time: Weds, Nov 9th 2:00-4:00 Cost: Free S-Corps and LLC's can be very confusing. What exactly is an LLC? What makes the S-Corp different from a standard corporation? Learn more about these particular entities and the common misconceptions people have, plus why these structures have become so popular. " Taxes Made Easy" Chemeketa Community College SBDC 626 High St NE (corner of High and Union) Salem OR Date/Time: Weds, Nov 16th 10:00-12:00 Cost: Free Get a better understanding of payroll and business tax obligations. What do I need to file if I am a sole proprietor? What happens when I change entities? Additional Information: If you wish to hear about specific Tax and topics would like to have a representative speak to your group or organization, please feel free to contact us. ***For Payroll and Withholding Tax topics and issues contact: Contact Cathy Tavares,-LISTSERV owner,(contact information below). For personal Income tax issues, contact the LISTSERV owner as well for further contact. 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. 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 steve.purkeypile at state.or.us Thu Nov 3 09:23:36 2011 From: steve.purkeypile at state.or.us (PURKEYPILE Steve) Date: Thu, 3 Nov 2011 16:23:36 +0000 Subject: [Revenews] Tax credit auction bidding ends tomorrow! Message-ID: <06609B6F78832B459BC773FAB3E4EC600E99249A38@MBX21.EXCHPROD.USA.NET> This is a reminder that the tax credit auction bidding period ends tomorrow (11/4/11) at 5pm. For more information about the auction, or to place a bid, go to our website at: http://www.oregon.gov/DOR/PERTAX/credit-auction-info.shtml Steve Purkeypile Personal Income Tax Policy Oregon Department of Revenue -------------- next part -------------- An HTML attachment was scrubbed... URL: From tamara.l.idsinga at state.or.us Thu Dec 8 08:44:26 2011 From: tamara.l.idsinga at state.or.us (IDSINGA Tamara L) Date: Thu, 8 Dec 2011 16:44:26 +0000 Subject: [Revenews] Tax credit auction bidding ends tomorrow! Message-ID: This is a reminder that the second Tax Auction Credit bidding will close at 5:00 PM PT on Friday, December 9, 2011. To find out more information, go to our website at: http://www.oregon.gov/DOR/PERTAX/credit-auction-info.shtml Tami Idsinga PIT Forms & Publications Coordinator Policy & Systems (503) 945-8520 Tamara.L.Idsinga at state.or.us -------------- next part -------------- An HTML attachment was scrubbed... URL: From cathleen.m.tavares at state.or.us Fri Dec 9 08:18:15 2011 From: cathleen.m.tavares at state.or.us (TAVARES Cathleen M) Date: Fri, 9 Dec 2011 16:18:15 +0000 Subject: [Revenews] Payrolltax-News LISTSERV Dec. 2011 Part 1 Message-ID: Payrolltax News LISTSERV (part 1) Please provide this information to those who may benefit I. Rate Changes for 2012: A. Transit taxes: TriMet tax: 0.007018 Lane Transit: 0.0068 B. Employment Taxes: "New Employer" rate (new to Oregon): 3.3% Wages base: $33,000.00 Tax rate: ***Varies by Employer *** Unemployment Insurance Tax rate notices for 2012 were mailed to employers November 15, 2011. If you have not received yours, contact Employment Department at 503 -947-1488 C. Workers Benefit Fund Assessments: 2012 rate stays the same at 2.8 cents per hour. D. Standard Deduction Amounts for 2012: Single: $2025.00 Married: $4055.00 E. Federal Tax Subtraction for 2012: $6100.00 II. Withholding Tax Formulas/Tables: Formula changes for 2012 are listed on our website at http://www.oregon.gov/DOR/BUS/payroll_updates.shtml. We have not posted the withholding tables yet pending changes to the federal tables. Once we update them, we will post them to this site. III. Important Year-end information: Even though employers are now required to submit W2 information electronically, you are still required to submit the paper Form WR to reconcile your account. Form WR, allows you to reconcile your actual withholding amounts to what you reported and paid on Form OQ for each quarter. Hints that allow for accurate processing of the Form WR include the following: 1. When completing Form WR line 6, make sure that you indicate your actual withholding amounts based on the W2's and 1099's submitted, not the total of the OQ's you submitted for the year. 2. If an adjustment needs to be made, all quarterly amended returns and documentation must be included with the Form WR. Sending the amended quarterly returns separately may result in errors such as duplicating an adjustment. 3. Be sure to indicate the reason for the adjustment you are making on line 7 of Form WR. Please be specific. 4. If you had a sale or merger at any time during the tax year, and the WR reflects withholding from all the companies involved, you must indicate the Business Identification Number(s) (BIN) of the affected entities and which quarters were included on the WR when completing line 7. Failure to do so may result in an assessment for tax that has actually been reported and paid under the old BIN. 5. Although W2 information is now required to be electronically submitted, you still may be asked to supply additional W2, W2c or W3 transmittal information as verification for the information provided on the Form WR. Failure to provide the requested information may delay reconciliation of your account, including delayed refunds if the account was overpaid. 6. IMPORTANT: If you amend a quarterly report for withholding after you have submitted the original Form WR, you must also submit an amended WR to report the adjustment and to provide the new withholding total for the year. This is especially true if the adjustment results in a refund of an overpayment. IV. IRS Information : The Voluntary Classification Settlement Program (VCSP) is a voluntary program that allows taxpayers to reclassify their workers as employees for employment tax purposes for future tax periods, providing partial relief from federal employment taxes. This program is available for taxpayers who want to voluntarily change the classification of their workers if they are incorrectly treating their employees as Independent Contractors. This program is available for federal purposes only; Oregon does not have such a program. However, if you believe you have misclassified your workers, contact us before we contact you and we will help you classify them properly. Contact the Worker Misclassification unit at 503-945-8095 for more information. For further information and to find out how to apply, be sure go to the IRS website at http://www.irs.gov/businesses/small/article/0,,id=246013,00.html 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. 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: