OAR 150-118-0170
Penalties and Interest
(1)
Penalties(a)
For purposes of determining the five percent penalty under ORS 118.260 (Penalties for delinquency, failure to file and fraud)(1) or the 20 percent penalty under ORS 118.260 (Penalties for delinquency, failure to file and fraud)(2), the tax required to be shown on the return is reduced by the amount of any tax that is paid on or before the due date of the return, excluding extensions.(b)
If an estate fails to file a return by the due date, including extensions, and also fails to pay the tax by the due date, only one five percent delinquency penalty will be added.(c)
ORS 305.145 (When interest required to be waived) and the rules implementing that statute apply to penalties imposed under ORS 118.260 (Penalties for delinquency, failure to file and fraud) and requests for waiver of penalty. The one-time penalty waiver provision provided by OAR 150-305-0068 (Discretionary Penalty Waivers) does not apply to penalties imposed under chapter 118.(2)
Interest on Refunds and Deficiencies(a)
A refund of an overpayment of estate tax accrues interest at the rates provided in OAR 150-305-0142 (Interest on Refunds).(b)
A deficiency in tax accrues interest at the rates provided in OAR 150-305-0140 (Interest on Deficiencies and Delinquencies).(c)
For the estates of decedents who die on or after January 1, 2012, if an estate has been granted an extension to pay tax under ORS 118.225 (Extension of time for payment), or if a beneficiary has elected to defer payment of tax under ORS 118.300 (Deferred payment election), interest accrues at the rates provided in OAR 150-305-0140 (Interest on Deficiencies and Delinquencies).(d)
Except as provided in (2)(c), if the estate tax is not paid within 60 days of assessment, the annual interest rates provided in OAR 150-305-0140 (Interest on Deficiencies and Delinquencies) are increased by four percentage points pursuant to ORS 305.222 (Determination of interest rate).
Source:
Rule 150-118-0170 — Penalties and Interest, https://secure.sos.state.or.us/oard/view.action?ruleNumber=150-118-0170.