OAR 150-314-0160: Report of Changes in Federal Taxable Income

(1) Report Requirements. The report of change or correction required by ORS 314.380(2) must be: (a) Filed in writing with the department; (b) Signed by the taxpayer or the taxpayer's authorized representative; and, (c) Filed separately from any statement or attachment forming a part of the taxpayer's original tax return. (2) The report may be in the form of an amended return showing the adjustments and the recomputation of the tax. The report must include either a copy of the report of the Internal Revenue Service (IRS) adjustment, federal revenue agent's report or the audit report of the other state's taxing authority, whichever is applicable, or other information sufficient to inform the department of each item on the tax return that has been changed or corrected. (3) If the taxpayer does not concede the accuracy of any change or correction made by the IRS or other state’s taxing authority, the report filed with the department must include a full explanation of the reason why the taxpayer believes such change or correction to be erroneous. If the report is not filed in the manner stated in this rule, the department will not be considered to have been notified by the taxpayer. (4) A report of a change or correction is treated as a timely claim for refund, pursuant to ORS 314.415, if filed with the department within two years after the date of the IRS adjustment or the audit report of the other state’s taxing authority.