OAR 150-314-0209
Substantial Authority, Adequate Disclosure and Reasonable Basis
# (1)
(1) Definitions. For purposes of ORS 314.402, OAR 150-314-0205, and this rule:
(a) "Substantial authority" has the same meaning as used in Treasury Regulation 1.6662-4(d).
(b) "Adequate disclosure" has the same meaning as used in Treasury Regulation 1.6662-4(e)-(f).
(c) "Reasonable basis" has the same meaning as used in Treasury Regulation 1.6662-3(b)(3).
# (2)
(2) When determining if an understatement is substantial, the understatement does not include items for which:
(a) Substantial authority exists (or existed at the time the taxpayer claimed it on the return) for the tax treatment of the item in question; or
(b) The taxpayer adequately disclosed relevant facts for the tax treatment of the item in question on the Oregon return (or on a statement attached to the Oregon return), and the taxpayer had a reasonable basis for the tax treatment of the item.
# (3)
(3) Items not adequately disclosed to the department before the taxpayer was first notified by the department concerning the tax liability will not be considered adequately disclosed on any subsequent filing by the taxpayer.
# (4)
(4) Items attributable to an abusive tax shelter as defined in ORS 314.402(4)(a) do not qualify under this rule to be excluded from the understatement.
Amendment history
Renumbered from 150-314.402(4)(b), REV 31-2016, f. 8-12-16, cert. ef. 9-1-16
Source: view the official text
In this chapter (40 sections)
- 150-314-0130 · Definition: Final Determination
- 150-314-0135 · Returns When Accounting Period Changed
- 150-314-0140 · Information Returns
- 150-314-0142 · Brokers’ Information Returns
- 150-314-0150 · Requirement to File Returns Electronically (Corporation…
- 150-314-0152 · Requirement to File Returns Electronically
- 150-314-0160 · Report of Changes in Federal Taxable Income
- 150-314-0165 · Filing Returns of Income: Due date
- 150-314-0167 · Filing Returns of Income: Extensions, Chapters 316, 317…
- 150-314-0169 · Standards for Substitute Tax Forms; Treatment of Forms…
- 150-314-0171 · Alternative Filing Methods
- 150-314-0173 · Time Limitations Affected by Military Service
- 150-314-0175 · Time Limitations for Persons Outside United States
- 150-314-0185 · Payment of Tax; Interest on Delayed Return
- 150-314-0187 · Responsibility for Tax Payments
- 150-314-0195 · Delinquency Penalty
- 150-314-0197 · Failure to File Penalty
- 150-314-0199 · Interest on Deficiencies and Delinquencies
- 150-314-0205 · Substantial Understatement Penalty (SUP)
- 150-314-0207 · Waiver of 20 Percent Substantial Understatement of Net…
- 150-314-0209 · Substantial Authority, Adequate Disclosure and…
- 150-314-0215 · Listed Transaction Understatement; Penalty
- 150-314-0220 · Additional Assessments
- 150-314-0222 · Five-Year Statute of Limitations
- 150-314-0224 · Time Limit to Make Adjustment
- 150-314-0226 · Notification of Gain Realized Upon the Sale or Exchange…
- 150-314-0228 · Extension of Period for Assessment
- 150-314-0230 · Effect of Federal Extension of Period for Assessment
- 150-314-0240 · Refunds Generally
- 150-314-0242 · Refunds
- 150-314-0244 · Minimum Offset Amount
- 150-314-0246 · Interest Computation — Offset
- 150-314-0248 · Refund Offset Priority
- 150-314-0250 · Refunds; Net Operating Loss and Net Capital Loss…
- 150-314-0252 · Effect of Federal Extension of Period for Assessment
- 150-314-0254 · Separate Refunds When a Joint Return Has Been Filed
- 150-314-0256 · Refunds of Tax Overpayments to Spouse or Heirs
- 150-314-0265 · Model Recordkeeping and Retention
- 150-314-0267 · Requirement to Provide Copies of Documents
- 150-314-0275 · Definition: Collection Charge