Federal income tax deductions; accrual method of accounting required; adjustment for federal earned income credit
Notes of Decisions
Since the federal statute allows, at the taxpayer’s election, the deferral of tax on gains realized on an involuntary conversion, and the federal regulation permits a rescission of this election, no tax would accrue for federal purposes until reinvestment was actually made or the election was rescinded. Renville v. Dept. of Rev., 5 OTR 202 (1973)
In arriving at the net operating loss under §172 of the federal Internal Revenue Code, the federal income tax deductions allowed under this section shall be included as a deduction from gross income. Bechtold v. Dept. of Rev., 5 OTR 629 (1975), aff’d273 Or 762, 543 P2d 665 (1975)
Law Review Citations
16 WLR 379 (1979)
Notes of Decisions
Unless the divorce decree specifically designates that payments are for child support, payments will be treated as alimony. Henderson v. Dept. of Rev., 5 OTR 153 (1972)
The goal of this chapter is to incorporate all of the provisions of the federal Internal Revenue Code; taxable income should be adjusted whenever the result of the adjustment is to give effect to the policies or principles of the federal Internal Revenue Code, even though no express authority for the adjustment is present in the statutes. Christian v. Dept. of Rev., 269 Or 469, 526 P2d 538 (1974); Smith v. Dept. of Rev., 270 Or 456, 528 P2d 73 (1974)
By its enactment of this chapter, the legislature intended to adopt §172 of the federal Internal Revenue Code allowing for the carryback and carryforward of net operating losses. Christian v. Dept. of Rev., 269 Or 469, 526 P2d 538 (1974)
Where plaintiff failed to appeal timely as required by this section, appeal rights were not preserved so that cause could be considered on merits. Dela Rosa v. Dept. of Rev., 11 OTR 201 (1989), aff’d 313 Or 284, 832 P2d 1228 (1992)
Where taxpayers paid foreign income taxes on foreign income and claimed foreign taxes paid as federal tax credit and as state business expense deduction, taxpayers who claim federal foreign tax credit are entitled only to foreign tax deduction provided in ORS 316.690. Whipple v. Dept. of Rev., 309 Or 422, 788 P2d 994 (1990)
For purposes of claim preclusion, all issues regarding taxpayer’s income tax liability for tax year constitute same claim. U.S. Bancorp v. Dept. of Revenue, 15 OTR 13 (1999)
Atty. Gen. Opinions
Political contributions as credit against Oregon tax return, (1974) Vol 37, p 159
Law Review Citations
57 OLR 309 (1978); 16 WLR 373 (1979)