July 14, 2017
Oregon’s House and Senate have recently passed, and Governor Brown is expected to sign, a transportation bill that includes increases to taxes to pay for transportation-related expenditures in Oregon.
One of these taxes is a new Oregon payroll tax of .1% on an Oregon resident employee’s gross wages. The tax is imposed on all Oregon residents, regardless of where their services are performed.
More details will be forthcoming. The tax will be withheld from the employee’s wages by the employer. If an employer fails to withhold the tax, it will be required to pay the tax itself and will additionally be subject to a penalty of $250 per employee (up to a $25,000 maximum) for failure to withhold and remit the tax.
We expect that the effective date will likely be January 1, 2018, but we will update when we hear definitively from the State, along with additional details as they become available.
With 2019 officially here, it is time to remind you that January 15th is the due date for the fourth quarter estimated tax payments. If you are required to make estimated tax payments, use the payment vouchers that you received after filing your 2017 returns.
Remember, if you do not pay enough tax by the due date of each payment period, you may be charged a penalty when you file your...
The holiday season is already in full swing, and as much as it can be a welcome distraction can be from our everyday lives, that distraction can cause its own issues as well.
We’ve noticed, here at SGA, an increased number of instances of scam emails and voicemail schemes lately. The scammers are trying to catch you off guard and get you to react in a way that you might...
The IRS requires you to keep your records that support an item of income or deduction on a return until the period of limitations for that returns runs out. The period of limitations is the period of time in which you can amend your return to claim a credit or refund, or the IRS can assess additional tax.
Period of Limitations: