Forms 40, 40s, And Instructions; Schedule Wfc And Instructions - 2006 Page 6
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31and withholding must make estimated payments. You
— With 2-D barcode ..................................... 2–4 weeks
may need to make estimated payments if:
— Without 2-D barcode ............................... 6–8 weeks
• Mail return on or after April 1
• You are self-employed and do not have Oregon tax
— With 2-D barcode ..................................... 4–7 weeks
withheld from your income.
• You receive Oregon Lottery single ticket winnings
— Without 2-D barcode ..............................8–11 weeks
of less than $5,000. (Note: Single ticket winnings of
I’m moving. Will my refund check be forwarded to me?
$5,000 or more are subject to Oregon withholding.)
• You receive income such as pensions, interest, or
Yes. If you move after you mail your return, give us
dividends, and Oregon tax is not withheld.
your new address. Download a Change of Address
• You’re a wage earner and expect to owe tax of
form from our website or contact us. Remember to file
$1,000 or more on your 2007 return. You may want
a change of address form with your local post office.
to increase the amount your employer withholds
What tax records do I need to keep?
from your Oregon wages. Download the publication
Oregon Income Tax Withholding from our website, or
You need to keep:
contact us to order it.
• A complete copy of your federal and state returns,
When do I pay?
even if you use a tax practitioner or file electronically.
The due dates are April 16, 2007;* June 15, 2007; Sep-
• All original receipts, canceled checks, statements,
tember 17, 2007; and January 15, 2008.
and other records you used to prepare your return.
If paying with a check or money order, send your pay-
Save these records for at least three years from the
ment with Form 40-ESV, Oregon Estimated Income Tax
due date of the return or three years from the date
Payment Voucher. Download the publication Estimated
you file your return, whichever is later. If your
Income Tax from our website, or to order it, see page 40.
return is audited, the law says you must show proof
of your income and expenses.
* Please send your 2007 estimated tax payment and Ore-
gon Form 40-ESV in a separate envelope from your 2006
• All records from the sale, purchase, or exchange of
Oregon income tax return. This will help us credit your
property and investments. Keep these records for at
payment more efficiently.
least three years after you report the gain or loss on
the property or investment.
What if I’m self-employed?
For more information, download the publication
Record-Keeping Requirements from our website, or to
If you’re self-employed and do business in Multnomah,
order it, see page 40.
Clackamas, or Washington counties, you may need
to file Form TM, TriMet Self-Employment Tax Return. If
What if I need to change my Oregon return after filing?
you’re self-employed and do business in Lane County,
you may need to file Form LTD, Lane Transit District
File an amended return. Use Form 40 or Form 40S to
Self-Employment Tax Return. Go to our website to down-
change (amend) your 2006 full-year resident return.
load the forms, or contact us to order either form.
Check the amended return box in the upper left cor-
ner of the form. You must also complete and attach
the Oregon Amended Schedule to your 2006 amended
Frequently asked questions
return. Download the schedule and instructions from
our website or to order it, see page 40.
Is my tax return private information?
Generally, you’re allowed three years from the due
Yes. All information provided on the return is confi-
dential. Any Oregon Department of Revenue employee
date of the return to file an amended return to claim a
who gives out confidential information without your
refund. To amend a prior year return, use Form 40 or
permission may be convicted of a Class C felony.
Form 40S for that year and the Oregon Amended Sched-
ule. To order prior year tax booklets or for assistance,
I’m getting a refund this year. How long will it take to
please contact us.
process my refund?
What if I’m audited by the IRS or another state?
Once the department begins processing full-year returns
(usually by February 1), your return will be processed
If the IRS or another state makes changes that increase
in the time frames listed. If you claim the Working Fam-
your Oregon taxable income, file an amended return
ily Credit (WFC) or your return needs additional review
to report and pay additional tax. If the changes reduce
for another reason, your return may take longer to pro-
Oregon taxable income, you have two years from the
cess. Return processing time frames:
date of the audit report to file an amended return to
• E-file return .....................................7–12 business days
claim a refund. Include a copy of the audit report with
• Mail return before April 1
your amended return.
6
General information
Have questions? Need forms? See page 40.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial