Hi Everyone,

I hope this message finds you well. As your tax preparer, I want to inform you about an important development regarding your upcoming tax filing.

For the 2023 tax year (filed in 2024), Oregon taxpayers will be eligible for a “kicker” refund. This refund is a response to the state’s surplus and will be reflected as a credit on your tax return.

Here’s What You Need to Know:

• Kicker Amount: The kicker credit is based on your 2022 tax liability. You’ll calculate the credit by multiplying the amount on line 22 of your 2022 Form OR-40 by 44.28 percent.
• Refundable Credit: This means the kicker will either increase your tax refund or reduce the amount of tax you owe for 2023.

What You Should Do:

• Review Your 2022 Return: Please take a moment to review your 2022 tax return, specifically line 22, to estimate your kicker credit.
• Contact Us: If you have any questions or need assistance in calculating this credit or understanding how it impacts your tax situation, please don’t hesitate to reach out.

We are here to help you navigate through these changes and ensure you benefit fully from this refund opportunity. As always, our goal is to provide you with proactive, informed, and comprehensive tax services.

Thank you for entrusting us with your tax needs. We look forward to assisting you with your upcoming tax filing.

—

George Dimov CPA

www.dimovtax.com

833-829-1120 toll free