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This version of the form is not currently in use and is provided for reference only. Download this version of
Form 150-101-166 Schedule OR-FIA-40-P
for the current year.
Form 150-101-166 Schedule OR-FIA-40-P Oregon Farm Income Averaging for Part-Year Residents - Oregon
What Is Form 150-101-166 Schedule OR-FIA-40-P?
This is a legal form that was released by the Oregon Department of Revenue - a government authority operating within Oregon. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form 150-101-166?
A: Form 150-101-166 is the form for Schedule OR-FIA-40-P Oregon Farm Income Averaging for Part-Year Residents in Oregon.
Q: Who is this form for?
A: This form is for part-year residents in Oregon who have farm income.
Q: What is the purpose of Form 150-101-166?
A: The purpose of this form is to allow part-year residents in Oregon to average their farm income for tax purposes.
Q: What is farm income averaging?
A: Farm income averaging is a method of calculating taxes where a taxpayer can spread farm income over a period of years to reduce the tax liability.
Q: Why would someone use farm income averaging?
A: Someone would use farm income averaging to reduce their tax liability by averaging out their income over several years.
Q: Are there any limitations or requirements for using farm income averaging?
A: Yes, there are limitations and requirements for using farm income averaging, including having at least three years of farm income and meeting certain income thresholds.
Q: When is the deadline for filing Form 150-101-166?
A: The deadline for filing Form 150-101-166 Schedule OR-FIA-40-P Oregon Farm Income Averaging for Part-Year Residents in Oregon is the same as the deadline for filing your state income tax return, typically April 15th.
Q: Is there a fee for filing Form 150-101-166?
A: No, there is no fee for filing Form 150-101-166 Schedule OR-FIA-40-P Oregon Farm Income Averaging for Part-Year Residents in Oregon.
Q: What should I do if I have questions about Form 150-101-166?
A: If you have questions about Form 150-101-166 Schedule OR-FIA-40-P Oregon Farm Income Averaging for Part-Year Residents in Oregon, you can contact the Oregon Department of Revenue for assistance.
Form Details:
- Released on September 7, 2021;
- The latest edition provided by the Oregon Department of Revenue;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form 150-101-166 Schedule OR-FIA-40-P by clicking the link below or browse more documents and templates provided by the Oregon Department of Revenue.
Download Form 150-101-166 Schedule OR-FIA-40-P Oregon Farm Income Averaging for Part-Year Residents - Oregon
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