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RCT124I (115)General Information for RCT124Page 1 of 6NEW FOR 2014 The penalty imposed for failure to file timely reports is now a minimum of $500, regardless of the determined tax liability, plus
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ORS 657663 refers to a specific penalty associated with the failure to comply with certain regulations or obligations, likely within a tax or reporting framework.
Generally, entities or individuals who are subject to the regulations covered by ORS 657663 and have incurred a penalty are required to file the form.
To fill out ORS 657663, individuals must provide detailed information about their circumstances, including any relevant financial data, identification numbers, and specific descriptions of the penalty incurred.
The purpose of ORS 657663 is to formally document penalties incurred due to non-compliance with regulatory requirements, ensuring that all parties are aware and accountable for their obligations.
Information that must be reported includes the type of penalty, the reason for its imposition, any relevant dates, and identifying details about the filer.
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