Taxes Imposed Upon or Measured by Net Income

ORS 314.735
Time limit for notice of deficiency


The Department of Revenue shall assess additional tax, interest and penalties for adjustments arising from an audit by the Internal Revenue Service, including a partnership-level audit, or reported by the taxpayer on an amended federal return, federal refund claim or other similar report, including a report required under section 6225(c) of the Internal Revenue Code, or as part of an administrative adjustment request, by the following dates:

(1)

If a taxpayer files with the department an adjustments report or an amended Oregon tax return as required within the period specified in ORS 314.733 (Requirement to report adjustments from partnership-level audit or administrative adjustment request), the department may assess any amounts, including in-lieu-of amounts, taxes, interest or penalties arising from the adjustments. The department shall issue a notice of deficiency to the taxpayer on or before the later of:

(a)

The expiration of the applicable limitations period specified in ORS 314.410 (Time limit for notice of deficiency); or

(b)

Two years following the earlier of the date the department is notified by the Internal Revenue Service or the date the taxpayer files the adjustments report or amended Oregon tax return with the department.

(2)

If the taxpayer fails to file an adjustments report within the period specified in ORS 314.733 (Requirement to report adjustments from partnership-level audit or administrative adjustment request) or if the adjustments report filed by the taxpayer omits adjustments or understates the correct amount of tax owed, the department may assess any amounts, including in-lieu-of amounts, taxes, interest or penalties arising from the adjustments. The department shall issue a notice of deficiency to the taxpayer on or before the later of:

(a)

The expiration of the applicable limitations period specified in ORS 314.410 (Time limit for notice of deficiency); or

(b)

Two years following the earlier of the date the department is notified by the Internal Revenue Service or the date the taxpayer files the adjustments report with the department. [2019 c.132 §4]
Note: See note under 314.731 (Definitions).
Chapter 314

Law Review Citations

9 WLJ 249 (1973); 5 EL 516 (1975)


Source

Last accessed
Jun. 26, 2021