Oregon Stipulated Agreement (Income Tax) is an agreement between a taxpayer and the Oregon Department of Revenue that allows taxpayers to settle a tax debt without going through the formal process of assessment and collection. The agreement is used to settle a tax debt for less than the full amount owed. It is a voluntary agreement and does not require a court order. There are two types of Oregon Stipulated Agreement (Income Tax): lump sum and installment. With a lump sum agreement, the taxpayer makes a single payment to satisfy their tax debt in full. With an installment agreement, the taxpayer makes regular payments over a period of time until the tax debt is paid in full.
Oregon Stipulated Agreement (Income Tax)
State:
Oregon
Control #:
OR-SKU-1617
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PDF
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Stipulated Agreement (Income Tax)
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FAQ
The 2022 federal tax subtraction limit is $7,250 ($3,625 for married filing sepa- rately). It may be limited further based on your adjusted gross income (AGI).
Oregon's Federal Income Tax Deduction The maximum deduction you can take in tax year 2022 is $7,250. The deduction is phased out for higher earners. Your deduction will be $5,800 if you're a single taxpayer and your AGI was at least $125,000 but less than $130,000 in 2022.
Wages are still reported as Oregon-source income on Form W-2. Nonresident employees with wages greater than their standard deduction amount are required to file an Oregon nonresident return.
Paper returns must have all required Oregon sched- ules, proof of tax withheld, and a copy of your federal return included to ensure smooth processing.
HB 2119 (2019) requires employers to withhold income tax at a rate of eight (8) percent of employee wages if the employee hasn't provided a withholding statement or exception certificate. Continue withholding at the eight percent rate until the employee submits a withholding statement or exemption certificate.
Your Income Taxes Breakdown TaxMarginal Tax RateEffective Tax RateFederal22.00%12.42%FICA7.65%7.65%State8.75%7.25%Local0.00%0.00%4 more rows ?
If you're a part-year resident, your income tax is based on taxable income from Oregon sources while you're a nonresident plus your taxable income from all sources while you're a resident.
For 2022, the maximum credit is $219 for each qualifying personal exemption. You can claim a credit for yourself, your spouse, and your qualifying child or qualifying relative. An additional exemption credit is available if you or your spouse have a severe disability or if you have a child with a qualifying disability.