OAR 150-314-0222: Five-Year Statute of Limitations

(1) For tax years beginning before January 1, 2014, the term “gross income” as used in ORS 314.410(2) has the same meaning as provided under section 61 of the Internal Revenue Code. For tax years beginning on or after January 1, 2014, the term "gross income" as used in ORS 314.410(2) has the same meaning as provided under: (a) Section 61 of the Internal Revenue Code as it relates to any income other than from the sale of goods or services in a trade or business, or (b) Section 6501(e) of the Internal Revenue Code as it relates to a trade or business. (2) An item shall not be considered as omitted from gross income if information sufficient to apprise the Department of the nature and amount of such item is disclosed in the return or in any schedule or statement attached to the return.