Oregon accountants in ‘conundrum’ over tax filing deadline

Coronavirus

Businesses need to file estimated quarterly taxes in April

PORTLAND, Ore. (KOIN) — Even though the income tax deadline is postponed until July, there are thousands who still have to pay Oregon taxes by April 15 — and that has local accountants concerned.

The Oregon Department of Revenue is still requiring businesses to file estimated quarterly taxes for 2020 even though the federal government extended the deadline to mid-July.

The Oregon Society of Certified Public Accountants called on the state to extend the deadline to allow clients and accountants time to deal with new realities of exchanging information and plummeting profits.

“Now we’re in the conundrum. What do we do? Do we guess? Do we ignore the April 15 deadline and move on and deal with it on next year’s tax return?” said Jerry Davis of Davis & Graves CPA.

The Department of Revenue said it’s not extending the quarterly deadline because the taxes “allows the state to preserve some funding for needed services, with the goal of helping to minimize disruption to state resources that are critical during this emergency response.”

Continuing Coverage: Coronavirus

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