Ore. Agency To Adjust Filed Returns For Unemployment Tax Break

Oregon's tax department will adjust qualifying 2020 income tax returns that have already been filed to reflect unemployment tax relief provided for in recent federal coronavirus pandemic aid legislation, the department said.

The state Department of Revenue will help taxpayers who received unemployment benefits and have already filed their returns to adjust those returns to reflect that up to $10,200 of unemployment benefits is exempt from tax, the department said in a Friday release. The tax relief was included in the American Rescue Plan Act signed by President Joe Biden on March 11.

Oregon taxpayers who received unemployment benefits in 2020 but have not yet filed can now follow the instructions released by the Internal Revenue Service to do so, the department said.

The department previously asked taxpayers who had received unemployment to delay amending or filing their returns until there was further state and federal guidance.

--Editing by Vincent Sherry. 

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