As the 2022 filing season is quickly approaching, we would like to remind you of Oregon's important tax changes.
- Earned income credit (EIC) for filers using Individual Taxpayer Identification Numbers (ITINs). If you are unable to claim some or all of the federal earned income tax credit (EITC) only because you, your spouse (if filing a joint return), or your child use an ITIN, you may be able to claim Oregon’s EIC for ITIN filers
-
Working family household and dependent care (WFHDC) credit. There are several changes for tax year 2022 for students claiming the WFHDC credit. If you (or your spouse, if you’re filing a joint return) were a student during 2022 and paid for care for a qualifying dependent so that you could attend school.
-
New deadline for Oregon IDA Initiative Fund donations. You now have a few extra months to make a donation to the Oregon IDA Initiative Fund and claim a credit for it. You can claim the credit for tax year 2022 if you make your donation no later than April 15, 2023, or the date you file your 2022 return, whichever is sooner.
-
New exception for rural health practitioner credit. There is a new exception to the income limit for this credit, for physicians who practice emergency medicine in a frontier rural practice county. See “Standard credits” in the Oregon instructions for information about this credit.
-
Elective tax for partnerships and S corporations. Certain partnerships and S corporations may elect to pay income tax at the entity level for tax years beginning on or after January 1, 2022 and before January 1, 2024. Individuals who are direct or indirect partners or shareholders may claim a credit for the tax paid by the partnership or S corporation
-
Federal tax liability subtraction. The federal tax subtraction limit is $7,250 ($3,625 if married filing separately) for 2022. It may be limited further based on your adjusted gross income (AGI).