It’s important to note that the County is advising everyone with tax liability not to wait to submit their 20 returns. All other penalties and interest associated with tax year 2022 and beyond will remain in effect. Taxpayers who were required to make quarterly payments in tax year 2022 (taxpayers who owe more than $1,000 in tax for the year), will have their interest for quarterly underpayments waived for tax year 2022 only. Those who already paid penalties and interest can obtain a refund. 14, 2023, Chair Jessica Vega Pederson announced those who do owe the tax will pay no interest or penalties for the 2021 tax year regardless of individual circumstances. The Preschool for All tax is 1.5% on taxable income over $125,000 for individuals and $200,000 for joint filers, and an additional 1.5% on taxable income over $250,000 for individuals and $400,000 for joint filers. Most area residents do not owe these taxes because they apply to higher incomes. It funds high-quality, developmentally appropriate, culturally responsive preschool experiences. 3, 2020, to establish a tuition-free preschool program for 3- and 4-year-olds. Multnomah County voters approved the new tax on Nov. 14, 2023 to reflect a new waiver for penalties and interest for tax year 2021.
0 Comments
Leave a Reply. |