What You Need to File Your Oklahoma State Taxes

January 22, 2021 By: Cox Search

Few households look forward to the time of year when they start gathering the necessary documents to file their taxes. But this annual rite of passage is a requirement for any income-earner whose annual earnings from the prior year exceed the value of the standard deduction plus any personal exemptions for which that taxpayer is eligible.

If you’ve earned income as a resident or nonresident of Oklahoma, you will likely need to file a federal tax return along with a state return. Some taxpayers may not realize that these tax returns are separate documents that have different requirements and implications on the amount of taxes you owe the government. It’s important that you gather everything you need to fill out the tax return, maximize your deductions, and make sure your tax forms are filled out according to the current tax law.

The Oklahoma tax deadline for residents is the same as the federal tax filing day: the fifteenth day of the fourth month of the year, or April 15. This date can vary if the 15th falls on a holiday or a Sunday, so check with the Oklahoma Tax Commission to make sure you know when your taxes for the prior year are due.

What Do I Need to File My Taxes?

It’s helpful to gather all the information you need ahead of time, before you sit down to complete and file your Oklahoma state taxes, to make it easier for you or your tax preparer to quickly fill out these documents.

What do you need to file taxes? For starters, you’ll need the following:

• All W-2s, 1099 forms and other documentation of income earned throughout the year. This may also include 1099-INT and 1099-DIV forms, which document earnings from investments.
• Social Security numbers for your spouse and all claimed dependents. Dependents may include children and any elderly parents living with you.
• Totals for retirement account contributions. This includes both taxable and tax-deferred contributions. Keep in mind that these numbers may change based on last-minute contributions. You will also need to stay within the annual contribution limits for these accounts.
• Documentation for mortgage interest, property taxes, student loan interest and other common deductions. These will be made available by your loan servicer and can reduce your tax obligations on your Oklahoma state taxes.
• Receipts for charitable donations. While most charitable donations are not currently tax-deductible for your federal taxes, they can still be claimed on your Oklahoma state taxes, reducing your total amount owed.
• Documentation for less common deductions, such as medical bills. In Oklahoma, you can deduct from your taxable income any medical expenses that exceeds 7.5 percent of your annual taxable income. This can offer significant financial relief in the face of high medical costs.

While most of this documentation will be mailed or e-mailed to you prior to Tax Day, you may still need to track down some of this documentation on your own. Keep track of the documentation you will need to properly fill out your Oklahoma state taxes.

How Can I Find Out Where to File an Oklahoma State Tax Return?

The Oklahoma Tax Commission website offers comprehensive information regarding how to file Oklahoma state taxes. This includes physical mailing options and several e-filing options to consider.

The general return mailing address, for returns that do not claim a refund, is the following:

Oklahoma Tax Commission
PO Box 269045
Oklahoma City, OK 73126-9045

However, other mailing addresses may be appropriate if you are claiming a refund, paying quarterly estimates or filing an amended return. Visit the Oklahoma Tax Commission website for more information specific to postal mail options.

E-Filing is now available for all Oklahoma tax returns, and these filing options are offered through several different services. Your tax preparer may have access to one of the approved e-filing options, which can expedite processing of your return and result in faster receipt of your tax return. Check out the Oklahoma Tax Commission’s list of Frequently Asked Questions to learn more about these e-filing options.

Where is My Oklahoma Tax Refund?

The Oklahoma Tax Commission estimates taxpayers will receive refunds approximately four to six weeks after filing their taxes, if they file by mail. If taxpayers choose to file electronically, that waiting time is reduced to 14-to-21 days.

If you’re wondering where your refund is, you can also check your Oklahoma tax refund status by visiting the state’s Taxpayer Access Point. Enter in basic identifying information, including your Social Security number, your ZIP code and your anticipated refund amount, and you can check the status online to keep tabs on when your payment might arrive.

If you want help filing your Oklahoma state taxes to maximize your refund and potentially receive your money faster, find a tax preparation service that can meet these state-specific needs and ensure your taxes are properly filled out. Some tax preparation locations even offer drop-off tax services.