Tax & Accounting Blog

Oregon Requires Form 1099-MISC and 1099-R Reporting this Year

1099, Information Reporting for Wealth Management, ONESOURCE, Tax Information Reporting, Trust Tax December 15, 2011

This has been a very busy year in Form 1099 reporting, but when you are planning your 1099 preparation timeline for payments made in 2011, remember that tax laws in Oregon have changed. After many years of not requiring 1099 reporting, Oregon now has rules for reporting Forms 1099-MISC, 1099-R, 1099-G and W-2G directly to the Oregon Department of Revenue – and reporting electronically.

Beginning with payments that are federally reportable on Form 1099-MISC or 1099-R for calendar year 2011, where there are 250 or more of any of these four types of forms where the recipient has an Oregon address, the forms must be filed electronically to Oregon and are due no later than March 31, 2012. Oregon requires the same electronic file specifications as the IRS sets forth in the Publication 1220. Paper forms will not be accepted.

For 2012 payments reportable in 2013, the Oregon filing threshold will be 100 or more of either type of form. For 2013 payments reportable in 2014, the Oregon filing threshold will be 10 or more of either type of form.

The Department of Revenue provides additional information on the website at http://www.oregon.gov/DOR/BUS/iwire-income-wage-information-return-eservices.shtml.