Oregonians will have until July 15 to file their personal income taxes with the state, Gov. Kate Brown said Wednesday.
But any quarterly payments for 2020 still will be due on April 15.
The IRS has extended its deadline to July 15 for filing personal and corporate federal tax returns, making payments, contributing to an IRA for 2019 and making the first quarterly estimated tax payment for 2020. However, for those who making quarterly payments, the “second” payment for 2020 still is due on June 15.
Wednesday was the deadline for the Oregon Department of Revenue to announce whether it will extend the state deadline.
Brown said the Oregon Department of Revenue would provide more information later today on the state’s extension.
A full-fledged delay until July could create up to a $1.5 billion cash-flow problem for the state budget, Rep. Paul Holvey, D-Eugene, co-chair of the Legislature’s Joint Special Committee on Coronavirus Response, said in a committee meeting Tuesday.
“That’s a huge cash-flow problem, which probably takes many of the items we want to help with off the table, I’m afraid,” he said.
His comments drew a strong response from Sen. Tim Knopp, R-Bend.
“Cash flow problems, really? The government just shut down about 90% of our businesses in the state of Oregon, who now have massive cash-flow problems. And the whole reason to delay the filing and payment is for them to be able to catch up,” Knopp said. “So for the government to, at this point, claim poverty or to claim cash-flow problems after what they’ve done to business, quite frankly just seems incredibly hypocritical.”