[Revenews] SB 1534 - 2013 Oregon Personal Income Tax Change

[BALL Shannon * DOR]

SB 1534 - 2013 Oregon Personal Income Tax Change

On March 7, 2014, SB 1534 passed both legislative chambers.  For roughly 1,500 taxpayers, a portion of the bill affects their 2013 Oregon Personal Income Tax return.   For tax years 2013 and forward SB 1534 allow all taxpayers, regardless of income, to claim the severely disabled and disabled child if all other qualifications are met.

When does this change go into effect?
The exemption changes go into effect for tax year 2013.  The Oregon Department of Revenue and software vendors are working on reprogramming their systems.  The Oregon Department of Revenue's system will be ready to process SB 1534 changes starting March 17, 2014.

What if I already filed a return and did not take the exemptions because my income level was too high?
The Oregon Department of Revenue has identified taxpayers who claimed an exemption for the severely disabled and/or disabled child, but the AGI was too high and therefore did not qualify for the credit at that time.  The taxpayers and their preparer will receive a letter from the Oregon Department of Revenue by the end of March explaining how to amend the 2013 Oregon Personal Income Tax return.  Attached to the letter will be an amended schedule with a neon SB 1534 sticker attached to the top.

Will an amended return take the normal 4-6 months to process?
No, amended returns received with the neon SB 1534 sticker attached to the top will run through an expedited process.



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