Or. Admin. R. 150-314-0290 - Estimated Tax: When Estimates Are Required; Refunds Prior to Filing of Return
(1)
Every corporation or group of corporations required to file an Oregon excise or
income tax return and expecting to have a tax liability of $500 or more must
make estimated tax payments. Estimated tax liability means the tax as computed
under ORS Chapter 317 or 318, less allowable credits. For purposes of
determining whether estimated tax liability exceeds $500, a credit resulting
from overpayment of tax for a prior year is not taken into account.
(2) Generally, estimated tax payments will
not be refunded prior to the taxpayer's filing of the tax return for the year
for which the estimated tax payments were made. The fact that the estimated tax
payments made exceed the required payments based upon an exception to
underpayment is not sufficient cause to refund such excess prior to the filing
of the Oregon tax return. Where taxpayers establish to the satisfaction of the
department that the facts warrant a refund, a refund of estimated taxes can be
made prior to the filing of the tax return. Examples of fact situations that
may be considered sufficient to warrant a refund are as follows:
Example 1
: Estimated tax
payments were made by a corporation that qualified as an S corporation for the
entire tax year through the date the refund is requested.
Example 2
: Estimated tax
payments were made by a corporation that will not be required to file a return
for the tax year for which the estimated tax payments were made.
Example 3
: The estimated tax
payments were intended for the Internal Revenue Service but were sent to the
Department of Revenue in error.
Example
4
: Taxpayer provides proof that the taxpayer
intended the payment for another account or liability and the payment was
misapplied to their estimated tax by the department.
Notes
Stat. Auth.: ORS 305.100
Stats. Implemented: ORS 314.505
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