February 20, 2018
We’ve passed the due date for filing Forms W-2 and 1099 – but even if you missed it, you should still file as soon as possible.
If you’ve already filed, did you electronically file your Oregon forms as required? The state has had limits below which you didn’t have to e-file forms with them in the past, but starting with the 2018 filing season (mainly 2017 reporting forms), e-filing is required if you have even ONE form to file.
The State of Oregon has stipulated that if a taxpayer is required to file forms and doesn’t, or doesn’t e-file those forms as required, the deductions claimed for amounts that should have been reported can be disallowed. For example, if an employer fails to e-file its W-2s with the state, the state can disallow all wage expense claimed on the employer’s income tax return.
E-filing with the state can be accomplished by using the state’s Revenue Online service (formerly called iWire). Go to https://revenueonline.dor.oregon.gov/tap/_/ and log in or create and account, then follow the instructions. Taxpayers have the option of using a specially formatted text file, a spreadsheet created from a template provided by the DOR, or manually entering the information.
Please call the office if you have additional questions.
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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: