[OSSSA218] Fwd: [Payrolltax-News] PayrollTax News Feb. 2011

[Karen PARK]

FYI

Karen Park

Oregon State Social Security Coordinator
Oregon PERS
503 603-7633
karen.park at state.or.us

SL2

Please note my office hours are Monday thru Thursday 6 am to 4:30 pm


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>>> TAVARES Cathleen M <cathleen.m.tavares at dor.state.or.us> 2/18/2011 3:38 PM >>>

PayrollTax News LISTSERV
Feb. 2011
Please provide this information to anyone who may benefit from it. 
I. End of the year reporting:
   A. Form OTC’s: 

Employers should have already received their 2011 OTC coupons. If you still have not received them, it is important to contact us at 503 945-8091 or go to http://findit.emp.state.or.us/tax/forms.cfm to reorder them.
Until you receive the correct coupons, DO NOT use old coupons or change someone else’s OTC coupon. Simply send in your payment with correspondence including your Business name, BIN, amount of payment, and tax program, quarter and year, telling us where you want the payment to be applied. 
Using old coupons or changing someone else’s coupon can result in payments being posted incorrectly and billing notices being issued. 
 B. Combined Payroll Tax Booklet: 
The Combined Payroll Tax Booklet will go out around mid February.  You should receive it by the end of the month. However, if you don’t receive it by the first week of March, be sure to contact us.  Chances are we may need to update your mailing address to resend the booklet to you. 
II. Form WR: 

All Oregon employers, even those submitting W2 information electronically, are required to submit the Form WR (Oregon Withholding Annual Reconciliation Report) at the end of the year. The WR reconciles what you reported on Form OQ with the total withholding figures reported on W2's/1099’s for state taxes. This form can be downloaded from our website @ http://www.oregon.gov/DOR/BUS/forms-payroll.shtml. 

The WR is required to be filed by February 28, 2010.  However, if you submit your W2 information electronically, you can submit the WR by the extended due date of March 31st.  

If you are reporting a substantial change on the form WR or are asking for a large refund due to errors that have occurred throughout the year, it is very important to prove and explain those changes.  Failure to do so may result in refund delays. 
For more information on submitting form WR, see our website at: http://www.oregon.gov/DOR/BUS/faq-withhold.shtml#formwr 

Please contact us at 503 945-8091 if you have any questions on how to complete this form.  
III. EFT:
 
    Due to the large volume of EFT applications received, EFT currently has a backlog.    
Until you receive your EFT confirmation letter, you must continue sending your payments by paper check using the form OTC. Do not hold your payments pending the confirmation letter. You will not be penalized for sending your payments by check while we are processing your EFT application. However, you can still face possible penalties if your payments are late.    
 
Update:  
 
The legislature took the first step toward a 2010 tax year reconnect yesterday.  SB 301 passed out of the Senate Finance and Revenue Committee unanimously yesterday afternoon.  The bill, if passed into law, would connect the Oregon definition of taxable income to federal law with the exception of IRC Section 168 bonus depreciation and IRC Section 179 expensing provisions.  Those provisions would still be tied to federal law as of December 31, 2009.  
 ****SB 301 has since passed the Senate this morning and now moves to the House.
 The Payrolltax-News e-mail list provides employers with complete and up-to-date payroll tax information. Employers can self-subscribe here. Representatives in the Business Division will send information to employers through this list. Employers can request additional information by e-mailing payroll.help.dor at state.or.us.
 
As a standard practice, e-mail sent from the department will be in text form only. Department of Revenue will not open attachments.
 
Questions about list content and subscription problems should be directed to the list owner:  
 
Cathy Tavares
Oregon Dept of Revenue
Cathleen.M.Tavares at state.or.us
503-945-8762
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