Form 4972 online Oregon 2024-2025

Form 4972 online Oregon: What You Should Know

Jul 2025 — Oregon Form 4972 (not to be used for federal purposes). If you used Form 4972, the federal withholding tax due is reduced by any withholding tax imposed by Oregon tax law. The tax may be collected by completing the Oregon Return of Income, or by mailing a copy of such form to the Oregon Department of Revenue, Attention: Form 4972. However, tax should be withheld if the total income tax due under Oregon's tax code in the calendar year has not been paid and the same has not been included on an Oregon tax return for the preceding calendar year. Current Revision. About Form 4972 or Form 4952, Oregon Individual Income Tax Return (for military members) — IRS Use Form 4972 of Form 1040, 1040A, or 1040EZ, as applicable, to figure the tax due. Current revision. Tax on Lump-Sum Distributions — TurboT ax Apr 20, 2025 — If you take a lump-sum distribution from a tax-qualified retirement plan on which the distributions have been made on or after April 10, 2022, the distributions are subject to the 10-year option tax if you meet all the following conditions: The amount for the year of the distribution equals or exceeds the amount in the following table, but less than the amount of the distribution computed by dividing 11,000, plus 5,000, by the total number of participants in the plan and beneficiaries of each participating participant: Multiply the amount of the distribution, less the amount of any contributions made by you. 11,000, less the amount of any contributions made by you. The amount is not a qualified distribution or eligible withdrawal. Example 1. A couple is married and in the lowest tax bracket. The tax on the distribution is 800. The distribution exceeds the 12,000.00 (or 400,000.00 for married joint returns) threshold for distributions. Example 2. A couple moves from a high tax bracket to a lower tax bracket in exchange for having another person in the new marriage get a new job. Because the money does not exceed the 12,000.00 (or 400,000.00) threshold for distributions, the distribution is classified as a “qualified withdrawal.” The IRS will not allow this transaction unless the couple meets the tax threshold and the dollar amounts are equal. The total of taxable and nontaxable income (including the distribution) is 12,000.

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