You may have joined other Oregon residents during 2018 and created an estate plan that included a trust. Depending on your needs, you created either a revocable or an irrevocable trust. A revocable trust allows you to make modifications and changes to it during your lifetime. For this reason, the IRS considers you the legal owner of the assets transferred into the trust.
Though the holiday season is a time of year many Oregon residents enjoy, it is quickly followed by a season that many people dread: tax season. Thinking about your taxes can understandably cause you to feel stressed, but you may also look forward to the possibility of obtaining a tax refund that could give you some extra cash for expenses or enjoyable activities.