Cash Back: A Guide to Oregon's Average Tax Kicker 2023
Cash Back: A Guide to Oregon's Average Tax Kicker 2023
As the first state to enact a so-called "kicker," Oregon has been providing refunds to taxpayers since 1979. Under the law, if the state collects more in a given tax cycle than 2% of the state's average total personal income for the previous three years, the excess must be refunded to taxpayers.
| Year | Average Tax Kicker |
|---|---|
| 2021 | $360 |
| 2022 | $500 |
| 2023 | $1,050 |
If passed by the Oregon Legislature, the Average Oregon Tax Kicker 2023 would be the largest in the history of the program. The kicker is expected to be paid out in the form of direct deposits or paper checks in late 2023.
Benefits of the Average Oregon Tax Kicker
Increased Disposable Income
The kicker provides taxpayers with a significant boost to their disposable income. In 2023, Oregon households could receive an average of $1,050, which can be used for various expenses such as groceries, housing, or savings.
Stimulus for the Economy
The kicker acts as a stimulus for the Oregon economy. When taxpayers receive refunds, they are more likely to spend the money, which can lead to increased economic activity and job creation.
How to Claim the Average Oregon Tax Kicker
To claim the kicker, taxpayers must file an Oregon state income tax return, even if they owe no taxes. The deadline for filing is April 15, 2023.
Advanced Features
Automatic Distribution
The kicker is distributed automatically to taxpayers through direct deposit or paper checks. No additional action is required on the part of taxpayers.
Tax Credits
Taxpayers with low or no income may qualify for additional tax credits that can increase their kicker amount.
6-8 FAQs About Average Oregon Tax Kicker 2023
Who is eligible for the kicker?
All Oregon taxpayers who file a state income tax return are eligible.
How much is the average kicker in 2023?
The average kicker in 2023 is expected to be $1,050.
When will the kicker be paid out?
The kicker is expected to be paid out in late 2023.
What if I don't file my taxes on time?
Taxpayers must file their taxes by April 15, 2023, to receive the kicker.
Call to Action
If you are an Oregon taxpayer, file your state income tax return by April 15, 2023, to claim your Average Oregon Tax Kicker 2023. This substantial refund can provide a significant boost to your disposable income and stimulate the economy.
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