2020 ProSeries/Oregon Readme
Release 2020.340
Contents
Items addressed in this release
Items addressed in previous releases
What's new for ProSeries/Oregon
Forms
Electronic filing
Additional Information
Items addressed in this release
General product enhancement added.
Items addressed in previous releases
Extension of Filing Date - Oregon has extended the individual income tax filing and payment deadline from April 15 to May 17.
Railroad Retirement Board, Tier 2 Distributions - Calculation of retirement exclusion amount has been updated to account for rollovers and NR/PY sourcing.
Retirement Distributions with Form 8915 - Calculation of retirement exclusion amount(s), when a distribution is taken due to disaster or COVID-related event and a 8915 is filed, has been updated.
Efile Validation - various improvements to enable successful efiling of Oregon returns.
Working Family Household and Dependent Care Credit - minor correction of decimal value lookup on line 28.
Oregon Federal Tax Liability Subtraction Worksheet - updated text on line 8 to match latest Oregon instructions.
Oregon Federal Tax Liability Subtraction Worksheet The second Economic Impact Payment (EIP) is now also included on line 8.
Multnomah County Exemption The business income exemption for Multnomah County is $100,000. Tax help has been updated to reflect this.
General Error Messages - An error message was added to prevent the filing of returns with an RRB-1099-R and the newly added Form 8915-E until we can fully update the calculations in the program.
What's new for ProSeries/Oregon
The following items are new for tax year 2020:
- Form OR-529, Part 2 has been added to this form to allow for creation of a new Oregon College Savings Plan account. All beneficiary information must be provided. This year's refund cannot be used to fund this to be created account.
- New Credits, New refundable credits for Oregon 529 College Savings Network and ABLE account contributions are available.
- Updated Credits, Earned Income Credit is now based on 12% of the federal credit amount. AGI thresholds for the Political Contribution Credit have been lowered to $75,000 (or $150,000 if filing jointly).
- Expired Credits, Oregon's surplus credit, known as the "kicker," is not available for 2020 tax returns.
- Updated Adjustments, A new adjustment on the OR-ASC-NP has been added for Charitable contributions claimed on the federal Form 1040 line 10b.
- Updated Subtractions, Oregon 529 College Savings Network and ABLE account subtractions are for carryforward amounts only. Special Oregon medical subtraction for tax year 2020 is available for those 66 or older on December 31, 2020.
- Form AER removed, The Annual Exemption Request (AER) Form has been discontinued. Exemptions can now be requested on the SP-2020 form.
Forms
The Oregon Department of Revenue Services has approved for filing all forms and
schedules included in ProSeries/Oregon.
Electronic Filing
Electronic filing functionality is available in this release of
ProSeries/Oregon in February 2021.
Additional information
Check all returns after printing
The Oregon Department of Revenue scans computer-generated forms to quickly
process the income tax returns it receives. To meet the requirements for producing
computer-generated forms, ProSeries is required to limit the width of the tax
information printed on forms that are scanned. In certain cases, data you
entered may be truncated. After completing a tax return, review the information
that prints (for example, mailing address information), make any necessary
changes, and reprint the return before mailing it.
About bar codes on printed state returns
Some states use bar codes on computer-printed tax forms. This special
formatting allows the state taxing authorities to process returns more quickly
and efficiently. On-screen, you'll see only a small representation of the bar
code on the lower-left side of the form. This image is static and does not
change based on the information in the return. However, when you print the
return, the bar code appears as a large rectangular box on the first page of
the form. The width of the bar code is constant; the height varies according to
the data in the return. In general, the more complex the
return, the larger the printed bar code.
Returns that contain special formatting may be processed at a different
location than manually prepared returns. Therefore, the filing instructions
that print with the state return may contain a mailing address that's different
from the mailing address in the package that is sent to taxpayers. Be sure to
have your clients mail their returns to the address in the filing instructions
that print with the return.
Important: Because the bar code image is a function of the data in
the tax return, it's important that you reprint the page with the bar code if
changes are made to any part of the return. Also, do not print blank copies of
the main form and prepare them manually. The Oregon taxing authority may attempt to scan
the form and reject it.
End of ReadMe file for ProSeries/Oregon