Oregon taxpayers anticipating their share of the $5.61 billion kicker, scheduled to be distributed in 2024, will need to exercise patience as the Oregon Department of Revenue has announced a delay in issuing personal income tax refunds. Refunds will not begin until after February 15, with electronically-filed tax returns receiving priority based on the order of submission.
While the delay may be frustrating for some, filing tax returns online and opting for direct deposit remains the quickest way to receive refunds. With the average estimated refund amounting to $790, taxpayers can use the state’s income distribution chart to estimate their anticipated refund. As of February 1, the Oregon Department of Revenue has already received over 150,000 tax returns out of the expected 2.2 million for the year.
For those looking to receive their refunds as quickly as possible, filing tax returns online remains the most efficient method. Taxpayers who choose to file electronically and opt for direct deposit typically receive their refunds two weeks earlier than those who submit paper returns and request paper checks. This digital process not only expedites the refund process but also reduces the chances of errors or delays associated with manual processing.
The Oregon Office of Economic Analysis estimates that the typical Oregon taxpayer will receive a $790 credit on their tax returns in 2024. This anticipated refund amount can provide a welcome financial boost for individuals and families. To get an estimate of the potential refund, taxpayers can refer to the state’s income distribution chart, which provides an overview of the average refund amounts based on income brackets.
As of February 1, the Oregon Department of Revenue has already received over 150,000 tax returns, out of the expected 2.2 million for the year. This early influx of tax returns indicates the eagerness of taxpayers to fulfill their obligations and claim their refunds. The department is geared towards handling the remaining tax returns promptly, ensuring that taxpayers receive their refunds as soon as possible.