Oregon Department of Revenue Urges Prompt Filing as Taxpayers Cash in on $5.61 Billion Surplus Revenue Kicker
Oregon Department of Revenue Urges Prompt Tax Filing to Secure Kicker Surplus
Oregon taxpayers are cashing in on a hefty $5.61 billion surplus revenue kicker tax credits this year with nearly $1.6 billion already claimed, according to the Oregon Department of Revenue. With 950,000 tax returns already received, the Department anticipates an additional 1.2 million filings before the April 15 deadline. This surplus is expected to swell further with remaining taxpayers set to claim over $4 billion in kicker surplus.
Megan Denison, administrator of the agency’s Personal Tax and Compliance Division, urges taxpayers not to procrastinate emphasizing the importance of filing sooner rather than later. The kicker, a tax credit applicable to 2023 state personal income tax returns, hinges on filing 2022 tax returns promptly. Even those not typically required to file for 2023 must do so to claim their credit, as it is based on 2022 Oregon income tax paid not federal taxes.
READ ALSO: Basic Income: Arizona GOP Proposes Blocking City- Level Universal Initiatives
Oregon Tax Credit Claims Reach $1.6 Billion, Sparking Discussion on State’s Financial Policies (PHOTO: The Center Square)
Oregon Department of Revenue Emphasizes Accuracy in Kicker Claims Amid Garnishment Risks
Taxpayers are advised against estimating their kicker amount and are encouraged to utilize the What’s My Kicker? Tool on Revenue Online for accurate calculations. However, it is crucial to note that certain debts such as child support, back taxes, court fines, or student loans may result in garnished kicker refunds. As the deadline approaches Oregonians are urged to file promptly to ensure they receive their entitled kicker credits without delay.
READ ALSO: Shapiro Administration Alerts Public On SNAP Benefits Scams – Stay Vigilant!
