Our office sent out a postcard reminding Oregonians not to forget to collect their Oregon Kicker Income Tax Refund ($739 average). We were surprised at the response of many people who had indeed forgotten.
During this economic shutdown it is more important than ever to claim your Constitutionally protected Kicker Income Tax Refund.
– The State of Oregon has over-collected $700 million in surplus tax revenue due to an unexpected surge in personal income and businesses tax revenue. Voters put into the Constitution the Kicker law that requires all over-collected taxes (above 2%) be returned back to the taxpayers. The average Oregon taxpayer is expected to see a $336.00 refund in 2020.
SALEM, Ore. — Oregonians who have already filed their taxes in 2020 may have discovered a big financial bonus because of this year's kicker tax credit.
State economists have been talking about the credit since last year. But now, taxpayers are finally starting to see the impact on their tax refund this year.
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You may have heard the news this month that the state over-collected $118 million in unexpected revenue. That grows the forecast in over-collected revenue from $1.5 billion to over $1.6 billion. Thanks to voters putting the Kicker Refund in the State Constitution this will be coming back to taxpayers who paid it — which averages $330 per taxpayer in 2020.
SALEM, Ore. (KTVZ) -- The Oregon Office of Economic Analysis said Friday it adjusted the “kicker” for the 2018 tax year from more than $1.5 billion to $1.6 billion earlier this month. That means an increase in the amount returned to taxpayers, in the form of tax credits.
The state hasn’t issued physical kicker checks since 2007. The surplus will be returned to taxpayers through a credit on their 2019 state personal income tax returns filed in 2020, the agency said.
SALEM, Ore. — No kicker tax check for Oregon taxpayers this year. However, you’re going to get a tax kicker credit when you file your 2019 taxes. Now there’s a way to figure out how much that’s going to be.
The tax surplus of more than $1.5 billion will be kicked back to taxpayers through a credit on their returns. When you file, there will be a “What’s My Kicker?” calculator on the Oregon Department of Revenue website for personal income tax filers once filing season begins in January.
As a legislative member of the House Interim Committee on Revenue, I heard firsthand the most recent report of glowing economic news from Oregon’s state economists. Consumer spending, roughly two-thirds of the economy, remains strong, job prospects are still good and overall wages continue to climb. Because Oregon’s economy closely follows the U.S. economy, we can be thankful to Republicans at the federal level for the Tax Cuts and Jobs Act passed at the end of 2017. While it is debatable whether the Tax Cut and Jobs Act created a one–time bump in the economy or not, what is certain is that consumer confidence and employment numbers, especially for minorities, are very good.
The federal government is getting back to trillion dollar annual deficits, yet state governments are realizing budget surpluses, with the majority of states experiencing record revenue collection in 2019. Taxpayers in a number of states across the country, both Republican and Democrat-run, are set to see some of that surplus revenue coming back their way in the form of both permanent tax relief and one time payments.