It is this time every year that I start getting advertisements from different political action commitees advertising the Oregon political contribution credit while requesting contributions to their PAC. Many people just toss these mailings; however, if you haven’t already made a polictical contribution during the year – giving $50 ($100 if married filing joint) to a PAC is not a bad idea.
If you file without extension, will have tax liability with Oregon, and have withholding or estimates paid to Oregon, then you should take advantage of this credit every year because a contribution of $100 in late December will be returned in the refund after you file a few months later. Basically, you are able to give the $50 ($100) to a politcal organization and then you get the money back with your refund. Honestly, it is a shame more people do not take advantage of this last minute opportunity as the State of Oregon is basically going to pick up the tab and you get to help out an organization that you support simply by going without the money for a few months.
Of course, it was a big election year, so many of you already have the full political contribution credit. However, please remember this credit for future years – especially non-election years – so you can make a difference by taking advantage of this great opportunity.
For more info, please visit ODR’s explanation of the credit.