Or. Admin. R. 150-305-0071

Current through Register Vol. 63, No. 8, August 1, 2024

Section 150-305-0071 - Interest Waivers Due to COVID-19 Pandemic Emergency

(1) The department will waive statutory interest imposed under ORS 305.220 or 305.222 on income/excise tax deficiencies or delinquencies of certain businesses for tax year 2019 if all of the following criteria are met:

(a) The taxpayer has unpaid individual income or corporate income/excise tax for tax year 2019 that remains unpaid beyond the due date of the tax year 2019 tax return;

(b) The individual taxpayer's business or the corporate taxpayer has gross receipts of less than $5 million for tax year 2019;

(c) The taxpayer has entered into a department-approved payment plan or the taxpayer pays the balance of the tax liability in full within six months of the date of assessment of the tax; and

(d) The taxpayer's ability to timely pay the tax has been affected by COVID-19 restrictions in place due to the pandemic emergency that, in the department's determination, constitute good and sufficient cause for the waiver of interest.

(2) The department will waive the interest for qualifying taxpayers at the time the tax year 2019 tax has been paid in full, either when the taxpayer makes payment in full or the taxpayer has successfully completed the department-approved payment plan, whichever is earlier.

Or. Admin. R. 150-305-0071

REV 10-2021, adopt filed 07/13/2021, effective 7/13/2021

Statutory/Other Authority: ORS 305.100 & 305.145(3)

Statutes/Other Implemented: ORS 305.145