[Revenews] Tax Relief Considerations

[BALL Shannon * DOR]

On March 18, 2020, the IRS issued a news release (Notice 2020-17<https://www.irs.gov/pub/irs-drop/n-20-17.pdf>) allowing all individual and other noncorporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments, which are typically due on April 15, 2020, to July 15, 2020, without penalties or interest. The guidance also allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments, which are usually due on April 15, 2020, to July 15, 2020, without penalties or interest. This guidance does not change the April 15 filing deadline.

The Oregon Department of Revenue has received several questions asking if Oregon is going to provide similar relief. Now that the department knows what the IRS is providing, we are evaluating our options and authority under the statutes to provide relief for Oregon and its taxpayers. We expect a decision to be made soon.

The department will send a Revenews bulletin as soon as a decision has been made.

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