Tax Day 2023 and how to get an extension from the IRS
Tax Day is on Tuesday, Apr 18, 2023. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!)
A very small but growing number of states (plus the District of Columbia) mandate paid leave for an employee’s own health condition: California, Connecticut, Hawaii, Massachusetts, New Jersey, New York, Puerto Rico, Rhode Island, Washington, and Washington, DC. Oregon and Colorado also began similar programs in 2023.
Find Oregon’s current and historical family leave insurance rates in our Oregon’s FLI section in Payroll Resources.
This tax is also known as the Oregon Workers Benefit Fund. For 2023 the rate is 1.1 cents per hour worked. The calculator will use the number of hours set under Hourly Rates. For example, for 40 hours the WC tax will equal $0.44.
States have their own Workers Compensation regulations and require that employers have coverage. Unlike disability insurance, which covers medical issues that occur outside work, worker’s comp covers injuries that happen while on the job. Most states require that employers get coverage from an insurance carrier but Oregon requires both employers and employees to make payments through payroll.
There are 15 states with municipalities, counties, school districts, or special districts that impose local income taxes: Alabama, Maryland, Ohio, Colorado, Michigan, Oregon, Delaware, Missouri, Pennsylvania, Indiana, New Jersey, Washington, Kentucky, New York, and West Virginia.
To find your local taxes, head to our Oregon local taxes resources. To learn more about how local taxes work, read this guide to local taxes.
There are 3 different methods used to calculate local taxes, it depends on the jurisdiction.
Most of these taxes are paid by the employee, but there are a few which are paid by the employer. This calculation process can be complex, but PaycheckCity’s payroll service can do it for you. Learn about PaycheckCity Payroll.
There are 15 states with municipalities, counties, school districts, or special districts that impose local income taxes: Alabama, Maryland, Ohio, Colorado, Michigan, Oregon, Delaware, Missouri, Pennsylvania, Indiana, New Jersey, Washington, Kentucky, New York, and West Virginia.
To find your local taxes, head to our Oregon local taxes resources. To learn more about how local taxes work, read this guide to local taxes.
In 2020, the IRS updated the Federal W4 form that eliminated withholding allowances. The redesigned Form W4 makes it easier for your withholding to match your tax liability. Here’s how to answer the new questions:
If your W4 on file is in the old format (2019 or older), toggle "Use new Form W-4" to change the questions back to the previous form. Employees are currently not required to update it. However if you do need to update it for any reason, you must now use the new Form W-4.
In addition to withholding federal and state taxes, part of your gross income might also have to contribute to deductions. These are known as “pre-tax deductions” and include contributions to retirement accounts and some health care costs. For example, when you look at your paycheck you might see an amount deducted for your company’s health insurance plan and for your 401k plan. Pre-tax deductions result in lower take-home, but also means less of your income is subject to tax. Some deductions are “post-tax”, like Roth 401(k), and are deducted after being taxed.
In our calculators, you can add deductions under “Voluntary Deductions” and select if it’s a fixed amount (pre-tax), a percentage of the gross-pay (pre-tax), or a percentage of the net pay (post-tax). For hourly calculators, you can also select a fixed amount per hour (pre-tax).
Tax Day is on Tuesday, Apr 18, 2023. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!)
The EITC, also known as EIC, is a tax credit provided to lower income workers to help offset the basic living expenses. Here's how to know if you're eligible.)
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