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Low-income Oregon households will soon receive $600 stimulus payments if they meet the eligibility requirements.
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You will receive the one-time payment if you received the Oregon Earned Income Tax Credit on your 2020 tax return and lived in Oregon for the last six months of 2020, according to the department. of Oregon Revenue. The goal is to help support low-income Oregonians as well as those still facing financial hardship due to COVID-19.
All direct deposits will be made and checks mailed by July 1st. The DOR estimates that approximately 236,000 households will be eligible for the payments.
The EITC was a tax benefit designed to help low-to-moderate income workers and families. If you filed your 2020 tax return by December 31, 2021 and received the EITC, you don’t have to do anything to receive the $600 stimulus payment. You will get it by direct deposit or by check.
To find out if you received the EITC from Oregon, check your 2020 tax return. The credit would have been claimed on line 33 of Form OR-40, line 59 of Form OR-40-N, or line 58 of form OR-40-P.
Here are some frequently asked questions provided by the DOR on its website, which you can find here.
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What if I didn’t claim the EITC on my 2020 tax return but am eligible?
If you filed your return before December 31, 2021, you must have filed an amended return for 2020 by April 15, 2022 to claim the EITC. If you missed the deadline to change your return, you will not receive a one-time payment. However, you can still amend your federal and Oregon returns to claim the earned income tax credit.
What if my 2020 refund went to a refund anticipation account?
Typically, you will receive the $600 payment using the refund option you selected on your tax return. If you received a prepayment through your tax services provider or paid for your tax preparation fees using your refund, you will receive your payment by check in the mail.
What happens if I close the bank account I used in the last return filed?
If your direct deposit is returned because your account is closed, you will receive your payment by check in the mail.
One-time payments are not subject to state tax, and you may receive one even if you owe back taxes.
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