Oregon taxpayers can expect a kicker tax credit on 2021 filings (2024)

FAQs

Will Oregon get a kicker check for 2021? ›

For 2021, your kicker is 17.341 percent of your 2020 total Oregon personal income tax liability. Depending on whether or not your filing status or marital status changed from 2020 to 2021, this amount may need to be adjusted further.

The projected corporate kicker is $931 million, and will be retained for educational spending.

Increased tax revenues are now predicted to deliver a kicker rebate of $3 billion to taxpayers in 2024. The size is likely to fluctuate before its finalized.

That would bring the total “kicker” rebate to $3.5 billion, which taxpayers would receive as a credit or refund on their 2023 taxes when they file in 2024.

In March 2022, the Oregon legislature voted to approve one-time $600 payments to some residents. Taxpayers who received the earned income tax credit on their 2020 state tax return, and who lived in Oregon for the last six months of 2020, were eligible to receive one payment per household.

"You're eligible to claim the kicker if you filed a 2020 tax return and had tax due before credits," Revenue said in a statement. "Even if you don't have a filing obligation for 2021, you still must file a 2021 tax return to claim your credit."

The kicker activates when Oregon's state revenue exceeds the expected revenue by at least 2%. When this occurs, an amount calculated by OEA is returned to the taxpayers through a credit on their tax returns. To claim the surplus "Kicker" credit on your 2021 Oregon return, please follow the steps listed below.

Personal income taxpayers already received a kicker rebate totaling $1.9 billion when they filed their returns this year. Taxpayers will get their share of the kicker forecasted Wednesday to be $3 billion in 2024 in the form of a tax credit or tax refund when they file their 2023 income taxes that spring.

Initial estimates suggest the median credit will be $420 and the average will be $850. Taxpayers are eligible if they filed a 2020 tax return and had tax due before credits, the state says.

Visit www.oregon.gov/dor to get tax forms, check the status of your refund, or make tax payments; call 800-356-4222 toll-free from an Oregon prefix (English or Spanish); 503-378-4988 in Salem and outside Oregon; or email questions.dor@oregon.gov.

Will there be a 2023 Oregon kicker? ›

One likely upshot is that taxpayers will receive an even larger “kicker” tax rebate on their 2023 taxes when they file returns in 2024: $3.7 billion total, up from $3.5 billion just three months ago.

To qualify, a member of a household must have received the Oregon Earned Income Tax Credit on their 2020 tax filing and lived in Oregon for at least the latter half of 2020. The $600 is not subject to state or federal income tax. The total amount of one-time assistance will be around $141.8 million.

The projected corporate kicker is $931 million and will be retained for educational spending. Even so, if balances are not spent, net resources for the 2023-25 biennium will have increased by $427 million relative to the March 2022 forecast, according to the summary. Oregon Gov.

You are eligible to claim the kicker if you filed a 2020 tax return and had tax due before credits. You must file a 2021 tax return to claim your kicker credit, even if you don't have a filing obligation for the year.

Thanks to a state law passed earlier this year, lower-income Oregon households that received the tax credit in 2020 will soon get $600 by direct deposit or mailed check. The Oregon Department of Revenue estimates that 236,287 qualifying households should receive payments in about a week.

Are the federal stimulus payments taxed in Oregon? The stimulus, officially called the Economic Impact Payments, are not taxed as income in Oregon. However, the payments may impact the federal tax calculations used on your Oregon income tax return.

Single taxpayers who earn less than $75,000 a year and couples who file jointly and make less than $150,000 a year will receive $350 per taxpayer and another $350 if they have any dependents. A married couple with children, therefore, could receive as much as $1,050.

Oregon's surplus credit, known as the "kicker," will be claimed as a credit on your 2021 tax return. The credit is a percentage of your 2020 tax liability. You may donate your kicker credit to the Oregon State School Fund. See your return instructions for more information.

The Earned Income Tax Credit is a federal and state tax credit for people making up to $57,414 a year and can give families up to $6,728 back when they file taxes. Many Oregonians are missing out on this money because they simply don't know about it, or because they aren't filing taxes at all.

What years did Oregon have a kicker? ›

The kicker law was overwhelmingly approved by voters in 1980, but the first kicker rebate did not occur until 1985 when the calculated revenue exceeded the forecast revenue by 7.7 percent ($88.7 million). The kicker was triggered again in 1987 (16.6%, $224.2 million) and 1989 (9.8%, $175.2 million).

The kicker activates when Oregon's state revenue exceeds the expected revenue by at least 2%. When this occurs, an amount calculated by OEA is returned to the taxpayers through a credit on their tax returns. To claim the surplus "Kicker" credit on your 2021 Oregon return, please follow the steps listed below.

Oregon's personal exemption credit

This credit is available to you if: You can't be claimed as a dependent on someone else's return, and. Your federal adjusted gross income isn't more than $100,000 if your filing status is single or married filing separately, or isn't more than $200,000 for all others.

Oregon usually issues refunds within 2-weeks of receipt of an electronically filed return. If you are a part-year or non-resident of Oregon, your Oregon refund will not be issued before March.

The Senior Citizen Deferral program allows you to borrow from the State of Oregon to pay your property taxes to the County.

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While some weaker placekickers may have trouble kicking field goals longer than 30 yards (making field goals from beyond the 13 difficult), others may consistently make 50-yarders, making it practical to kick from beyond the 33. For most NFL kickers, the 35-yard line is typically the limit of their field goal range.

Personal income tax and corporate excise tax are the most significant components of the state General Fund, and property tax is the most significant local tax in Oregon. These three taxes represent about 80% of all state and local taxes. Oregon does not have a general state sales tax.

Their Oregon tax return had to be filed by December 31, 2021; however, an amended 2020 return could have been filed by April 15, 2022. Amount: The assistance payments were $600 per household. When Sent: The state began sending payments in June 2022. By law, no payments are allowed after July 31, 2022.

How do I check on my rebate credit? ›

You qualify for the recovery rebate credit only if the IRS didn't give you a stimulus payment, or if you received a partial payment. To find out you whether you missed out on money you were entitled to, you can contact the IRS, review your IRS online account or use the tax agency's Get My Payment tool.

How do I know if I am owed a tax rebate or refund? If you are due a tax rebate HMRC will let you know by sending you a letter called a P800 or a simple assessment letter. P800 letters can also tell you that you haven't paid enough tax, so don't get too excited when one comes through your letter box.

With inflation in America at an all-time high, seniors and others on a fixed income have been some of the hardest hit by the rising costs of groceries, utilities and fuel.

Per the government site, “Direct deposit MCTR payments for Californians who received Golden State Stimulus (GSS) I or II are expected to be issued to bank accounts from October 7, 2022 through October 25, 2022, with the remaining direct deposits occurring between October 28, 2022 and November 14, 2022.”

The maximum check is $841 in 2022 for eligible individuals for this federal program, which provides support to disabled, blind and elderly people who have little or no incomes. The average monthly benefit is $624.

You may now check on the status of Oregon tax refunds on the DOR website. The automated phone system is still available as in past years for those who do not have computer access. That number in the Salem area is 503-378-4988 or toll free throughout the rest of Oregon at 1-800-356-4222.

Thousands of Oregonians are facing delays receiving state tax refunds because they've been flagged for manual processing by the Department of Revenue.

We encourage you to use your letter 6475 before filing taxes for 2021 vs. using other documents. Having the wrong amount on your return could trigger a manual review of your return, which could delay your return – and refund for weeks.

You need both letters when filing your return as you will enter both amounts to be added to your tax return. This letter will have the total amount of advance Child Tax Credit payments you received from July 2021 to December 2021, and you will need that number when you file your taxes. Why?

Is Oregon giving a kicker check? ›

Oregon does not have a surplus "Kicker" to claim on 2022 returns.

PORTLAND, Ore. (KOIN) — Oregonians can expect a tax credit on their 2021 state income tax returns from a $1.9 billion tax surplus, or “kicker,” the Oregon Office of Economic Analysis announced Tuesday.

Visit www.oregon.gov/dor to get tax forms, check the status of your refund, or make tax payments; call 800-356-4222 toll-free from an Oregon prefix (English or Spanish); 503-378-4988 in Salem and outside Oregon; or email questions.dor@oregon.gov.

How much California residents will receive is based on their income, tax-filing status and household size. Single taxpayers who earn less than $75,000 a year and couples who file jointly and make less than $150,000 a year will receive $350 per taxpayer and another $350 if they have any dependents.

Nearly 20 states approved stimulus payments in one form or another in 2022, and residents in a dozen of them are still waiting for their money. If you live in one of the following 12 states and you haven't yet received a payment you qualified for, don't panic — the check might be in the mail.

(This information is updated once per day.) The Oregon Department of Revenue states it will start issuing personal income tax refunds on February 15, 2021. Return processing times vary depending on many factors, including complexity of the return and our verification processes.

Taxpayers who claimed a credit for taxes paid to another state need to subtract that credit amount from their liability before calculating. Or, go to oregon.gov/dor/Pages/index.aspx and click on What's My Kicker. Type in your Social Security number and filing status and it will do the math for you.