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Oregon House Bill 2071

With the recent passing of Oregon House Bill 2071 is Turbotax planning to update their system for amendments back to 2021. The bill states that all Active Duty Military pay may be subtracted from federal income dating back to 2021. In order to amend using turbotax it seems the system is going to have to be updated to recognize this. Currently the sytem only allows deduction of $6000 in state active pay. How long before turbotax updates their system to allow for proper amendments?
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2 Replies

Oregon House Bill 2071

Oregon House Bill 2071

@coreymccraw 

 

One other thing to note.....the new provisions were just enabled in late September of 2023.

 

THUS...even if TTX intends to include those changes:

1)  first,  the OR Tax DOR has to figure out how to implement the changes in their tax computers.  (a month or two)

2) then,  the OR Tax DOR has to tell the various tax software companies how they want the changes implemented.

3) then the various software companies have to get a software team dedicated to that change...another month, or two).

_______

So, I wouldn't expect that changes to be implemented in tax software until sometime in early 2024.....(but maybe it'll be sooner...stranger things have happened).

 

For instance, the OR DOR may have the required info already in their tax system for anyone who has already filed, and might decide to send out appropriate refunds based on their internal tax file information....without getting amended tax returns from individuals (I'd give it a 50/50 chance, but certainly possible)....then they would might need fewer  OR amended tax returns at some later date.....but only for an individual who thought they were missed.

 

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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