The NJ-1040EZ form is the State of New Jersey Income Tax-Resident Return designed for the tax year 2003. It provides a simplified method for residents to file their state taxes, particularly when they have straightforward financial situations. Key components of the form include sections for reporting wages, salaries, tips, taxable and tax-exempt interest income, dividends, gross income, and various credits such as the New Jersey Earned Income Tax Credit, alongside options for contributing to designated charitable funds.
The State of New Jersey offers a streamlined method for filing state income taxes through the NJ-1040EZ form, aimed at residents seeking a simplified process. This form encompasses various sections designed to capture essential information including wages, salaries, tips (with W-2 enclosures), taxable and tax-exempt interest income, dividends, and deductions such as medical expenses and property taxes. It accommodates different filing statuses, ensuring inclusivity for single filers, married couples opting for a joint return, and heads of households, among others. Exemptions play a significant role in the calculation process, emphasizing the importance of accurately reporting dependents, including those attending colleges and other dependents, which directly impact the exemption amounts and ultimately, the taxable income. The form goes beyond mere income reporting, offering taxpayers the potential for refunds or highlighting amounts owed. Notably, it provides a platform for making contributions to several charitable causes directly through one's tax return, like the New Jersey Endangered Wildlife Fund and the Children’s Trust Fund, underscoring the state's commitment to both its residents and broader societal welfare. Inclusion of the Earned Income Tax Credit (EITC) section further exemplifies New Jersey’s efforts to support low-income families, making it crucial for eligible residents to understand and correctly apply for this benefit. Completing the NJ-1040EZ demands attention to detail and an understanding of one’s financial standings to ensure accurate and beneficial filing.
5R
For Privacy Act Notification, See Instructions
NJ-1040EZ
STATE OF NEW JERSEY INCOME TAX-RESIDENT RETURN
2003
Fill in
if application for Federal extension is enclosed
Round down all amounts less than 50 cents. Round up all amounts of 50 through 99 cents.
or enter confirmation #_________________________________
DO NOT ENTER CENTS.
IMPORTANT! YOU MUST ENTER YOUR SSN (s).
13.
Wages, Salaries, Tips, etc. (Enclose W-2)
,
Your Social Security Number
-
13
14a.
Taxable Interest Income
14a
Spouse’s Social Security Number
County/Municipality Code
14b.
Tax-Exempt Interest Income
14b
Do NOT include on Line 14a
(See Table page 31)
Place label on form if all preprinted information is correct. Otherwise, print or type your name and address.
15.
Dividends
15
...............................................................
Last Name, First Name and Initial (Joint filers enter first name and initial of each. Enter spouse last name ONLY if different)
16.
NJ Gross Income (Add Lines 13, 14a, and 15)
16
(See instructions)
17
17.
Total Exemption Amount (From Line 12e)
Home Address (Number and Street, including apartment number or rural route)
18.
Medical Expenses (See instructions)
18
City, Town, Post Office
State
Zip Code
19. Taxable Income (Line 16 minus Lines 17 and 18)
19
20.
Property Tax Deduction (See instructions)
20
FILING STATUS (Fill in only one)
21.
NEW JERSEY TAXABLE INCOME
21
1.
Single
2.
Married, filing joint return
(Line 19 minus Line 20)
22
22.
Tax (From Tax Table, page 33)
............................
3. Married, filing separate return - must file Form NJ-1040
23.
Use Tax Due on Out-of-State Purchases
23
4.
Head of household
If no Use Tax, enter a ZERO (0)
5.
Qualifying widow(er)
24.
Total Tax (Add Line 22 and Line 23)
24
EXEMPTIONS
6
25.
NJ Income Tax Withheld (Enclose W-2)
25
6.
Regular
Yourself
Spouse
ENTER
7
26
7.
Age 65 or Over
NUMBERS
26.
Property Tax Credit (See instructions)
8.
Blind or Disabled
8
HERE
27.
Estimated Payments/Credit from 2002 return
27
if Form NJ-2210 enclosed
9.
Number of your qualified dependent children
9
28.
28
New Jersey Earned Income Tax Credit
10
Complete schedule on Page 2
10.
Number of other dependents
29
29.
Total Payments and Credits (Add Lines 25 - 28) ..
11.
Dependents attending colleges
11
30.
AMOUNT OF TAX YOU OWE (See instructions)
30
12.
Totals
(For Line 12a - Add Lines 6, 7, 8, and 11)
12a
12b
if paying by e-check or credit card.
(For Line 12b - Add Lines 9 and 10)
31.
OVERPAYMENT
31
Exemptions:
12c.. . . . . . . Line 12a______x $1,000 = ____________
32.
Total Deductions From Overpayment
32
12d
Line 12b______x $1,500 = ____________
(From Page 2, Line 8)
.
. . . . . . .12e. Total Exemption Amount
33.
.........................REFUND (Line 31 minus Line 32)
33
Add Lines 12c and 12d. Enter result here and on Line 17.
NJ-1040EZ (2003) Page 2
EARNED INCOME TAX CREDIT SCHEDULE
You may be eligible for the New Jersey Earned Income Tax Credit if you claimed the Federal Earned Income Credit for 2003, your gross income on Line 16, Form NJ-1040EZ is $20,000 or less, and your filing status for New Jersey is the same as your filing status on your Federal income tax return. Complete this schedule to see if you are eligible. You are not eligible for the New Jersey Earned Income Tax Credit if your filing status is single or married, filing separate return or if you answer “No” to question 1 below. See instructions.
1.Did you file a 2003 Federal Schedule EIC on which you
listed at least one “qualifying child”?
Yes
No
2. Fill in oval if you had the IRS figure your Federal Earned Income Credit
3.
Enter amount of Federal Earned Income Credit from your
2003 Federal Form 1040 or 1040A
Enter 20% of amount on Line 3 here and on Page 1, Line 28
GUBERNATORIAL ELECTIONS FUND (If you fill in the Yes oval(s) it will not increase your tax or reduce
your refund)
Do you wish to designate $1 of your taxes for this fund?
If joint return, does your spouse wish to designate $1?
DEDUCTIONS FROM OVERPAYMENT
Credit to your 2004 tax
N.J. Endangered
Wildlife Fund
$10
$20
Other
N.J. Children’s Trust Fund
to Prevent Child Abuse
HOMESTEAD REBATE APPLICATION
1. Enter the GROSS INCOME you reported on Line
1
16, Form NJ-1040EZ
2. Enter your New Jersey address on December 31, 2003, if different from address on Page 1.
Street Address _________________________________________ Municipality ____________________
3. Fill in your residency status during 2003
HOMEOWNER
TENANT
4.If you indicated “Homeowner” on Line 3, enter the block and lot number of the residence for which the rebate is claimed.
N.J. Vietnam
AMOUNT
Veterans’ Memorial Fund
OF
N.J. Breast Cancer
Research Fund
CONTRIBUTION
U.S.S. New Jersey
Educational Museum Fund
Other Designated Contribution
0
................(See instruction page 26)
Total Deductions From Overpayment.
(Add Lines 1 through 7) Enter here and on Page 1, Line 32
Block
Lot
5.If homeowner, enter the total 2003 property taxes you (and your spouse) paid on your principal residence in New Jersey during 2003 ......
6.If tenant, enter the total rent you (and your spouse) paid on your principal residence in New Jersey during 2003..................................................
Qualifier
5
Division
Use
2
3
4
Under penalties of perjury, I declare that I have examined this income tax return and homestead rebate application, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. If prepared by a person other than taxpayer, this declaration is based on all information of which the preparer has any knowledge.
Your Signature
Date
Spouse’s Signature (if filing jointly, BOTH must sign)
I authorize the Division of Taxation to discuss my return and enclosures with my preparer (below)
If you do not need forms mailed to you next year, fill in
Paid Preparer’s Signature
Federal Identification Number
Firm’s Name
Federal Employer Identification Number
Pay amount on Line 30 in full. Write social security number(s) on check or money order and make payable to:
STATE OF NEW JERSEY - TGI
Mail your check or money order with your NJ-1040EZ-V payment voucher and your return to:
NJ Division of Taxation Revenue Processing Center PO Box 641
Trenton, NJ 08646-0641
IF REFUND:
NJ Division of Taxation Revenue Processing Center PO Box 640
Trenton, NJ 08646-0640
You may also pay by e-check or credit card. For more information go to: www.state.nj.us/treasury/taxation
2003 NJ Charitable Funds
Line 2 - New Jersey — Endangered Wildlife Fund
Help keep NJ’s wildlife in our future! Over 73 endangered and threatened species struggle for survival in NJ, the most densely populated state in the nation – and each day brings them closer to extinction. You can help our biologists stem the tide of species and habitat loss. Contributions from compassionate people like you go toward conservation, research, restoration, and education – real dollars that help the Endangered & Nongame Species Program protect imperiled animals such as the bald eagle, bobcat, and bog turtle, plus over 400 other nongame
species in NJ. We receive no state-dedicated funding and rely on your support, so this year please “Check Off for Wildlife.” Thank you!
Please visit www.NJFishandWildlife.com/ensphome.htm for more info. For a free subscription to our newsletter, please write to Conserve Wildlife Foundation, PO Box 400, Trenton, NJ 08625-0400, or contact Patricia Shapella at 609-292-3707.
Line 3 - New Jersey — Children’s Trust Fund… “A Person Who Cares Can Prevent Child Abuse”
Every year thousands of children in New Jersey are neglected and abused. We rely on your support to ensure that community-based programs throughout New Jersey have the resources to prevent these tragedies and strengthen families. 100% of your contribution goes directly to support child abuse prevention programs such as:
•parent education and support groups
•home visitation for parents of newborns
•respite care for children with special needs and their families
You can help children in New Jersey have a safe and healthy childhood.
For more information and/or a copy of the Children’s Trust Fund’s booklet of current programs please contact: NJ Children’s Trust Fund,
PO Box 711, Trenton, NJ 08625-0711 Phone: 609-633-3992 Web: http://www.state.nj.us/humanservices/cap/njcap2.html
Line 4 - New Jersey — Vietnam Veterans’ Memorial Fund
“To Remember, To Heal, To Honor”
Your support honors 1,557 New Jerseyans whose names are engraved on the Memorial and helps us teach future generations about this unique time in our nation’s history at the Vietnam Era Educational Center.
For more information, write: New Jersey Vietnam Veterans’ Memorial, PO Box 648,
Holmdel, NJ 07733 or call: 1-800-648-8387. Visit us on the Web at http://www.njvvmf.org.
Line 5 - New Jersey — Breast Cancer Research Fund
YOUR STATE TAX REFUND TODAY HELPS OUR DAUGHTERS TOMORROW
Join the fight against breast cancer and help New Jersey based researchers find a cure now so our daughters won’t have to fight this disease in the future. 100% of your donation supports research relating to the prevention, screening, treatment, and cure of breast cancer. For further information, please contact: The New Jersey Commission on Cancer Research, PO Box 360, 28 West State Street, Rm. 505, Trenton, NJ 08625-0360, Phone: 609-633-6552. Web: www.state.nj.us/health
Line 6 - New Jersey — U.S.S. NEW JERSEY Educational Museum Fund
BATTLESHIP NEW JERSEY
New Jersey’s namesake Battleship would appreciate your continued support. Your contribution will be used to support the world-class Educational Museum as a tribute to Veterans of all of the Armed Forces.
For more information contact: Battleship New Jersey Foundation, Inc. 1715 Hwy. 35, Middletown, NJ 07748
Phone: 732-671-6488 Web: http://www.battleshipnj.org E-mail: bb62fdn@aol.com
continued
Contributions - continued
Line 7 - New Jersey — Other Designated Contribution
01 - Drug Abuse Education Fund - THE EPIDEMIC OF DRUG ABUSE NEEDS
YOUR HELP! Your contribution helps New Jersey children receive valuable education from highly trained uniformed law enforcement officers throughout the State in providing drug abuse education programs. Research has shown that the more resistance education children receive, the more likely they will be drug free. The monies raised will help maintain K-6 curricula and increase program activity to Middle School and High School students as well as parents.
For more information contact D.A.R.E. New Jersey at 292 Prospect Plains Rd., Cranbury, NJ 08512 or call 1-800 DARENJ1. Web address: http://www.dare.com
02 - Korean Veterans’ Memorial Fund
“To Honor, To Educate, To Recognize, To Commemorate”
Your support to the Korean War Memorial in Atlantic City honors all the New Jerseyans who served and especially the more than 837 soldiers who died during the Forgotten War. We need to inform future generations of the past so that no one ever forgets these men and women. Your contribution will be used to maintain this place of honor.
For more information, write: Korean War Memorial, c/o Dept. of Military and Veterans Affairs, PO Box 340, Eggert Crossing Road,
Trenton, NJ 08625-0340. Phone: 609-530-7049. http://www.state.nj.us/military/korea/
03 - Organ and Tissue Donor Awareness Education Fund
More than 2,500 critically ill New Jerseyans from all walks of life — parents, children, siblings, grandparents — are waiting for life-saving organ transplants. Each day 17 people on waiting lists will die due to the lack of donated organs. But you have the power to donate life. Just one organ and tissue donor can save up to 8 lives and enhance the health of 75 others. Your support will help raise awareness of this drastic need for organ and tissue donors. Begin today by checking off line 7 to help fund organ and tissue donor education awareness in New Jersey.
For more information, call 1-800-SHARE-NJ or visit www.sharenj.org
04 - NJ-AIDS Services Fund
New Jersey currently ranks fifth in the country in total cases of HIV infection with an estimated 60,000 people living with HIV/AIDS. Your donation will be used for prevention, education, treatment and research.
For more information write to: New Jersey AIDS Services Fund, c/o Positive Connection, 1514 Palisade Avenue, Union City, NJ 07087, or call 973-485-6596.
05 - Literacy Volunteers of America – New Jersey Fund
“Literacy is the key to personal freedom.”
Millions of adults in New Jersey cannot read, write, or speak English well enough to successfully complete everyday tasks. Since 1979, Literacy Volunteers of America - New Jersey (LVA-NJ) has helped to develop, strengthen, and support the operation of local tutoring programs throughout New Jersey. These programs use trained volunteers to provide free, one-to-one tutoring to adults at the lowest levels of literacy. Although 5,000 adults were tutored last year, thousands more remain on waiting lists. Your donation will enable LVA-NJ to help even more adults improve their lives through increased literacy. For more information call 1-800-848-0048 or visit http://members.aol.com/lvanj
06 - New Jersey Prostate Cancer Research Fund
DONATE FOR DAD
Over the past several years, New Jersey has had the dubious distinction of consistently ranking in the top ten states in the nation for prostate cancer incidence and mortality. So join our fight against prostate cancer and help New Jersey cancer researchers find a cure. 100% of your donation supports approved prostate cancer research relating to the prevention, screening, treatment, and cure of prostate cancer. For further information, please contact: The New Jersey Commission on Cancer Research, PO Box 360, Room 505, 28 West State Street, Trenton, NJ 08625-0360, Phone: 609-633-6552. Web: www.state.nj.us/health
Form NJ-1040EZ
Although you have been selected to receive this form, not everyone qualifies to file Form NJ-1040EZ. If you answer “Yes” to any of the questions below, you cannot file Form NJ-1040EZ.
Yes No
!! Were you a New Jersey resident for only part of the year 2003?
!! Is your filing status married, filing separate return?
!! Do you have income other than wages, interest, and dividends?
!! Is your return filed on a fiscal year basis?
!! Are you filing on behalf of a deceased person?
!! Do you wish to claim a credit for taxes you paid to another jurisdiction?
!! Are you self-employed?
!! Did you receive a capital gain distribution from a mutual fund or other regulated investment company?
!! Did you have two or more employers and wish to claim a credit for excess UI/HC/WD or DI contributions withheld?
!! Did you make a withdrawal from your IRA during 2003?
!! Did you receive taxable pension and annuity income or early retirement benefits?
!! Do you wish to use the Pension Exclusion or the Other Retirement Income Exclusion to reduce your taxable income?
!! Do you wish to deduct alimony and/or separate maintenance payments you made?
!! Do you wish to claim a property tax deduction/credit or homestead rebate and you:
—lived in more than one qualified New Jersey residence during the year?
—shared ownership or rent with someone other than your spouse?
—owned a home that contains more than one unit?
!! Did you have income below the minimum filing threshold (see page 13), have no overpayment, and wish to file only to claim a homestead rebate?
If you checked “Yes” to any of the above, you do not qualify to file Form NJ-1040EZ. Please see back cover for information about other filing options. For information on how to obtain forms, publications, or other assistance, see page 43.
FILING INFORMATION
2003 Form NJ-1040EZ
Use the following chart to determine which New Jersey income tax filing method you may use. This chart is a guide only and may not cover every situation. For information on NJ WebFile or electronic filing, see back cover. If you need assistance, contact the Division’s Customer Service Center (609-292-6400).
Who Must File
As a New Jersey resident you MUST FILE a New Jersey resident income tax return if–
Your filing status is:
and
Your gross income from all sources for the entire year was more than:
Married, filing separate return
$10,000
$20,000
How Should I File?
TeleFile (By phone)
Form NJ-1040
Residency Status
Filing Status
Personal Exemptions/ Dependents
Income Sources
Amount of NJ Gross Income
Deductions
Credits
Payments
Homestead Rebate
Full-year NJ resident in 2003
∀ Full-year NJ resident in 2003 AND
Full-year or part-year NJ resident in
∀ Filed 2002 NJ resident return
Limited to:
Filing status (which must be the same
Any filing status
∀ Single
as on 2002 return) limited to:
∀ Married, filing joint return
∀ Head of household
∀ Qualifying widow(er)
All personal exemptions and
dependents you are eligible to
∀ Regular exemption for taxpayer
dependents you are eligible to claim
claim
and spouse
∀ Dependent children, other
dependents, and dependents
attending colleges
NOTE: Taxpayers age 65 or older or
blind or disabled cannot TeleFile.
All sources of income
∀ Wages
∀ Interest
∀ Interest ($2,500 or less)
∀ Dividends
∀ Dividends and capital gains distri-
butions ($2,500 or less, combined)
No limit
All deductions you are eligible to
∀ Medical expenses and Archer
∀ Property tax deduction
MSA contributions
∀ Property tax deduction*
All credits you are eligible to claim
∀ Property tax credit*
∀ Property tax credit
∀ NJ earned income tax credit
∀ Excess UI/HC/WD or disability
insurance contributions
∀ Withholdings from all sources
∀ Withholdings shown on W-2s
∀ Estimated tax payments for 2003
∀ Credit forward from 2002 NJ
∀ Credit from 2002 NJ return
return
∀ Payment made with extension
Eligible homeowners and tenants*
All eligible homeowners and tenants
*Residents who had more than one New Jersey residence during the year, shared ownership or rent with someone other than a spouse, or whose continued
principal residence had more than one unit CANNOT use Form NJ-1040EZ.
14
When to File
Generally, your New Jersey income tax return is due when your Federal income tax return is due. For calendar year filers, the 2003 New Jersey income tax return is due by April 15, 2004.
You cannot use Form NJ-1040EZ if you file on a fiscal year basis.
Postmark Date. All New Jersey income tax returns postmarked on or before the due date of the return are considered to be filed on time. Tax returns postmarked after the due date are considered to be filed late. When a return is postmarked after the due date, the filing date for that return is the date the return was received by the Division, not the postmark date of the return. Interest on unpaid liabilities is assessed from the due date of the return.
Extensions
Extensions of time are granted only to file your New Jersey resident income tax re- turn. There are no extensions of time to pay tax due. Penalties and interest are imposed whenever tax is paid after the original due date.
Four-Month Extension
You may receive a four-month extension of time to file your New Jersey resident income tax return if at least 80% of the tax liability computed on your Form NJ-1040EZ when filed is paid in the form of withholdings, estimated, or other pay- ments by the original due date, and
1.Federal extension filed. A copy of your Federal Application for Auto- matic Extension is enclosed with your final return and the oval at the top of the NJ-1040EZ is filled in (if the ex- tension application was filed by phone or online, your confirmation number is entered in the space provided at the top of Form NJ-1040EZ); or
2.No Federal extension filed. You file a request for a four-month extension on Form NJ-630, Application for Exten- sion of Time to File New Jersey Gross Income Tax Return, by the original due date of the return.
Form NJ-630 must also be filed by the original due date if you are required to make a payment to satisfy the 80% requirement.
Extensions Beyond Four Months If you have requested and been granted a four-month extension, you may apply for an additional two-month extension before the original four-month extension expires. You must file Form NJ-630 if you require an extension of more than four months for New Jersey purposes and you are not re- questing an additional two-month exten- sion for Federal purposes. Otherwise, enclose a copy of your Federal applica- tion for an additional two-month exten- sion with your NJ-1040EZ when filed. Taxpayers who file Form NJ-630 will not receive an approved copy. We will notify you only if your request is denied.
If you fail to satisfy the requirements outlined for extensions, or you fail to file your return by the extended due date, your extension will be denied and penalties and interest will be imposed from the original due date of the re- turn. See “Penalties, Interest, and Col- lection Fees” on page 16.
Military Extensions
Special rules apply to members of the Armed Forces of the United States and ci- vilians providing support to the Armed Forces. For more information see the in- struction booklet for Form NJ-1040 or Tax Topic Bulletin GIT-7, Military Personnel.
How to Pay
The balance of tax due must be paid in full by the original due date of the return. If you owe less than $1, no payment is re- quired. You may make your payment by check or money order, electronic check (e-check), or credit card.
Check or Money Order. You will find a payment voucher (Form NJ-1040EZ-V) at the front of this booklet. If you owe tax and are sending the payment with your 2003 return, enter the amount of tax due in the boxes on the payment voucher. Do not make changes to any information pre- printed on the payment voucher. Instead make any necessary changes on Form NJ-1040EZ. For information about mail- ing forms, see “Where to Send Your Re- turn” on page 15.
Make check or money order payable to State of New Jersey – TGI. Write your social security number on the check or money order. Use social security numbers of both husband and wife for a joint return. Send your payment for the balance due with the payment voucher in the same envelope with your tax return.
If you are paying a balance due for the 2003 tax year and are making the first in- stallment of estimated tax for 2004, please use separate checks or money orders for each payment. Send your 2004 estimated tax payment with an NJ-1040-ES voucher to the address on that payment voucher. Do not include the estimated tax payment with your 2003 income tax return.
Electronic Check (e-check). You may be able to pay your 2003 New Jersey income taxes or make a payment of estimated tax for 2004 by e-check. This option is avail- able on the Division’s Web site (www.state.nj.us/treasury/taxation/). Tax- payers who do not have Internet access can make a payment by e-check by contacting the Division’s Customer Service Center at 609-292-6400. Do not send in the payment voucher if you pay your taxes by e-check.
When using e-check on the Web, you will need your social security number and date
You will need your bank’s 9-digit routing number and your account number to make a payment by e-check. Do not enter the check number as part of the account number. NO T E : The routing and account numbers may be in different places on your check.
How to Pay - continued
of birth to make a payment. Be sure the social security number you enter matches the first social security number shown on the form for which you are making your payment, and the date of birth you enter is the date of birth for that person.
NOTE:
(1)If you do not enter your social security number and date of birth properly, you will not be able to pay by e-check.
(2)If you are filing a New Jersey return for the first time, or your filing status is dif- ferent than the filing status on your 2002 return, you may not be able to pay by e-check.
Credit Card. You may pay your 2003 New Jersey income taxes or make a pay- ment of estimated tax for 2004 by credit card. Pay by phone (1-800-2PAYTAX, toll-free) or directly over the Internet (www.officialpayments.com) and use a Visa, American Express, MasterCard, or Discover/Novus credit card. Do not send in the payment voucher if you pay your taxes by credit card.
There is a convenience fee of 2.5% paid directly to Official Payments Corporation based on the amount of your tax payment.
Time Limit for Assessing Additional Taxes. The Division of Taxation has three years from the date you filed your income tax return or the original due date of the return, whichever is later, to send you a bill for additional taxes you owe. There is no time limit if you did not file your tax return, or if you filed a false or fraudulent return with the intent to evade tax. The time limit may be extended if:
♦You amended or the IRS adjusted your Federal taxable income or your Federal earned income credit;
♦You amended your New Jersey taxable income;
♦You entered into a written agreement with the Division extending the time to make an assessment;
♦You omit more than 25% of your gross income on your New Jersey income tax return; or
Credit Card Payment
Sample Convenience Fees
Transaction
Convenience
Total
Amount
Fee
$ 100.00
$ 2.50
$ 102.50
200.00
5.00
205.00
400.00
10.00
410.00
600.00
15.00
615.00
1,000.00
25.00
1,025.00
1,400.00
35.00
1,435.00
2,000.00
50.00
2,050.00
2,700.00
67.50
2,767.50
3,500.00
87.50
3,587.50
4,400.00
110.00
4,510.00
5,400.00
135.00
5,535.00
6,400.00
160.00
6,560.00
7,400.00
185.00
7,585.00
8,700.00
217.50
8,917.50
10,400.00
260.00
10,660.00
13,000.00
325.00
13,325.00
17,400.00
435.00
17,835.00
21,000.00
525.00
21,525.00
28,000.00
700.00
28,700.00
36,000.00
900.00
36,900.00
45,000.00
1,125.00
46,125.00
55,000.00
1,375.00
56,375.00
66,000.00
1,650.00
67,650.00
77,000.00
1,925.00
78,925.00
88,000.00
2,200.00
90,200.00
NOTE: Fees are subject to change.
For payments above $100,000, please contact the Official Payments Corp. Special Services Group at 1-877-754-4420
♦An erroneous refund is made as a result of fraud or misrepresentation by you.
Where to Send Your Return
Your packet contains a large envelope. Use the large envelope to mail your NJ-1040EZ along with related enclosures, payment voucher, and check or money order for any tax due. On the flap of the large envelope you will find preprinted address labels with different addresses for different categories of returns. To ensure your return is mailed properly:
1.Remove all labels along perforations from envelope flap; and
2.Choose the correct label for your return.
Mail Returns Requesting a Refund (or With No Tax Due) to:
STATE OF NEW JERSEY
DIVISION OF TAXATION
REVENUE PROCESSING CENTER
PO BOX 640
TRENTON NJ 08646-0640
Mail Returns Indicating Tax Due Together With Payment Voucher and Check or Money Order to:
PO BOX 641
TRENTON NJ 08646-0641
3.Moisten and affix only the correct label on the front of the large return envelope.
Do not staple, paper clip, or tape your check or money order to the voucher.
Refunds
A return must be filed to claim a refund for overpayment of tax. If the refund is $1 or less, you must enclose a statement spe- cifically requesting it.
Time Period for Refunds. You have three years from the date the return was filed or two years from the time tax was paid, whichever was later, to claim a re- fund. If you and the Division agree in writing to extend the period of assess- ment, the period for filing a refund claim will also be extended.
Interest Paid on Refunds. If the Division takes more than six months to send you your income tax refund, you have a right to receive interest on that refund. Interest at the prime rate, compounded annually, will be paid from the later of:
♦the date the refund claim was filed;
♦the date the tax was paid; or
♦the due date of the return.
No interest will be paid when an over- payment is credited to the next year’s tax liability, or on an overpayment or portion of an overpayment which consists of a New Jersey earned income tax credit.
New Jersey law requires that any money owed to the State of New Jersey, any of its agencies, or the Internal Revenue Serv-
Refunds - continued
ice be deducted from your refund or cred- it before it is issued. Homestead rebates may also be affected. These debts include, among other things, money owed for past due taxes, child support due under a court order, school loans, hospital bills, and IRS levies. If the Division applies your refund, credit, or rebate to any of these debts, you will be notified through the mail.
Deceased Taxpayers
You cannot use Form NJ-1040EZ if you are filing on behalf of a person who received
income in 2003 but died before filing a return.
Estimated Tax
Estimated tax means the amount which you estimate to be your income tax for the taxable year after subtracting payments, withholdings, and other credits.
You are required to make estimated tax payments using Form NJ-1040-ES
Amended Returns
If you received an additional tax state- ment (W-2 or 1099) after your return was filed, or you discovered that you made any error or omission on your return, file an amended New Jersey resident return, Form NJ-1040X.
Changes in Your Federal Income Tax or Federal Earned Income Credit. If you receive a notice from the Internal Revenue Service that they changed your reported income, and that change altered your New Jersey taxable income, or if you receive a notice that your Federal earned income credit has been changed, and that change alters your New Jersey earned in- come tax credit, you must notify the Divi- sion of the change in writing within 90 days. File an amended tax return and pay any additional tax due.
If you file an amended Federal return which changes your New Jersey taxable income or your Federal earned income credit, you must file an amended New Jer- sey resident return, Form NJ-1040X, within 90 days.
Late Filing Penalty
5% per month (or fraction of a month) up to a maximum of 25% of the outstanding tax liability when a return is filed after the due date or extended due date. A penalty of $100 for each month the return is late may also be imposed.
Late Payment Penalty
5% of the outstanding tax balance may be imposed.
Interest
3% above the prime rate for every month or fraction of a month the tax is unpaid, compounded annually. At the end of each calendar year, any tax, penalties, and in- terest remaining due (unpaid) will become part of the balance on which interest is charged.
Collection Fees
In addition, if your tax bill is sent to our collection agency, a referral cost recovery fee of 10% of the tax due will be added to your liability. If a certificate of debt is is- sued for your outstanding liability, a fee for the cost of collection of the tax may also be imposed.
when your estimated tax exceeds $400. Instructions for computing the estimated tax and making the payments are included with the form. Review the amount of your New Jersey gross income tax on your ex- pected gross income (after deductions and credits) to determine if you need to make estimated tax payments for 2004.
To avoid having to make estimated tax payments, you may ask your employer to withhold an additional amount from your wages by completing Form NJ-W4. Fail- ure to file a Declaration of Estimated Tax or pay all or part of an underpayment will result in interest charges on the underpayment.
Underpayment of Estimated Tax. If you failed to make all of the required es- timated tax payments as described above, you should request Form NJ-2210, Underpayment of Estimated Tax by Indi- viduals, Estates or Trusts. Complete Form NJ-2210 to determine if interest is due and if so, calculate the amount. If you complete and enclose Form NJ-2210 with your return, fill in the oval below Line 27.
Accounting Method
Use the same accounting method for New Jersey gross income tax that you used for Federal income tax purposes. Income must be recognized and reported in the same period as it is recognized and re- ported for Federal income tax purposes.
Rounding Off to Whole Dollars
When completing your return you must show the money items in whole dollars. If you have to add two or more items to fig- ure the total to enter on a line, include cents when adding the items and round off only the total. When entering the rounded total on the line, eliminate any amount under 50 cents and increase any amount 50 cents or more to the next higher dollar.
Penalties, Interest, and Collection Fees
Penalty and interest should be included with the payment of any tax due.
Keeping Tax Records
Keep copies of your tax returns and the supporting documentation of income, age and/or disability, deductions, and credits until the statute of limitations has expired for each return. Generally, this is three years after the filing date or two years from the date the tax was paid, whichever is later.
Privacy Act Notification
The Federal Privacy Act of 1974 requires an agency requesting information from in- dividuals to inform them why the request is being made and how the information is being used.
Your social security number is used pri- marily to account for and give credit for tax payments. The Division of Taxation also uses social security numbers in the administration and enforcement of all tax laws for which it is responsible. In addi- tion, the Division of Taxation is required by law to forward an annual list to the Ad- ministrative Office of the Courts con-
Filling out the NJ-1040EZ form is an essential task for New Jersey residents who need to file their state income tax returns. This process ensures that individuals are compliant with state tax laws and can also help qualify for certain refunds and credits. To complete the form correctly, follow these step-by-step instructions, keeping in mind to not enter cents and to round as instructed.
By carefully following these instructions, filers can ensure the accurate and timely processing of their NJ-1040EZ form. It's important to double-check all entries and calculations to avoid common errors, and consult the comprehensive instructions provided by the New Jersey Division of Taxation if any questions arise during the process.
The NJ-1040EZ form is a simplified version of the standard New Jersey income tax return for residents. It's designed for individuals with relatively simple tax situations, allowing for a quicker and easier filing process.
Individuals can file the NJ-1040EZ form if they meet specific criteria, such as having only wages, salaries, tips, taxable interest income under a certain threshold, dividends, and total exemption amounts. It's also required that their filing status matches their federal income tax return and does not include categories like single or married filing separately for certain credits.
To calculate taxable income on the NJ-1040EZ, subtract the total exemption amount and any allowable deductions, like medical expenses and property tax deductions, from your NJ gross income. This will give you your New Jersey taxable income.
Yes, you may be eligible for the NJEITC if you claimed the Federal Earned Income Credit, your gross income is $20,000 or less, and your filing status for New Jersey matches your federal return. However, you're not eligible if your filing status is single or married filing separately.
By opting to contribute to designated funds on the NJ-1040EZ form, taxpayers can directly support a range of causes. These include wildlife conservation, child abuse prevention, and research for diseases like breast cancer and AIDS. Simply enter the amount you wish to donate next to the relevant fund.
When filling out the NJ-1040EZ form, people often make a range of errors that can be easily avoided. Identifying these mistakes helps ensure accuracy and prevents unnecessary delays or issues with your tax return. Here are six common mistakes:
Not Rounding Off Numbers: All amounts should be rounded to the nearest dollar, eliminating cents before entry. This is a simple step that many overlook, leading to discrepancies in the calculations.
Incorrect Social Security Numbers (SSNs): Entering your SSN incorrectly is a critical mistake. The SSN should match the number on your Social Security card exactly, as it's essential for processing your tax return.
Failing to Report All Income: All sources of income, including wages, salaries, tips (line 13), and taxable interest (line 14a), must be reported accurately. Omitting or inaccurately reporting income can lead to underpayment of taxes and potential penalties.
Missing Out on Deductions: Deductions like medical expenses (line 18) and property tax deduction (line 20) can significantly reduce your taxable income. Not claiming these deductions when eligible is a missed opportunity to lower your tax liability.
Inaccurate Filing Status: Your filing status affects your tax liability and potential refunds. Choosing the wrong status (lines 1-5) can impact the accuracy of your return, leading to processing delays or incorrect tax calculations.
Overlooking Tax Credits: Tax credits, such as the New Jersey Earned Income Tax Credit (line 28), can provide a dollar-for-dollar reduction of your tax liability. Failing to apply for eligible credits means you could be paying more tax than necessary.
By paying close attention to these areas, you can enhance the accuracy of your NJ-1040EZ submission, ensuring a smoother processing of your tax return.
When completing the New Jersey NJ-1040EZ Income Tax-Resident Return, a taxpayer may find that additional forms and documents are necessary, either to provide further information or to claim specific credits, deductions, or benefits. The process of filing taxes can be complex, but understanding which documents may be needed alongside the NJ-1040EZ form can streamline the process. Here is a list of forms and documents frequently used in conjunction with the NJ-1040EZ form, along with brief descriptions:
Navigating the tax return process involves accurately completing the primary form and supplementing it with the correct supporting documents. By thoroughly preparing and organizing these essential forms and documents, taxpayers can ensure a smoother filing process and avoid delays or issues with their tax returns. It's always recommended to consult the New Jersey Division of Taxation's guidelines or a tax professional when unsure about the requirements for your tax situation.
The NJ-1040EZ form, a state tax return document for residents of New Jersey, shares similarities with the federal 1040EZ form, which is designed for individuals with a straightforward financial situation. Both forms are simplified versions of their longer counterparts and are intended for taxpayers who do not plan to claim any adjustments to income or tax credits, other than the standard deduction and personal exemptions. These forms are ideal for people with only wages, salaries, tips, and a few other types of income, making the tax filing process straightforward and less time-consuming.
Comparable to the Schedule EIC attached to the federal tax return, the Earned Income Tax Credit Schedule on the NJ-1040EZ offers low to moderate-income working individuals and couples the opportunity to reduce their tax liability, potentially leading to a refund. Both documents require taxpayers to meet specific criteria based on earnings, filing status, and eligible dependents, aiming to encourage and reward work. The inclusion of this schedule acknowledges the importance of supporting working families and aligns state tax processes with federal incentives to alleviate poverty.
The Homestead Rebate Application section of the NJ-1040EZ resembles the federal Schedule H (Form 1040) for household employment taxes in its specialized approach to particular taxpayer circumstances. While Schedule H focuses on taxes for household employees, the Homestead Rebate offers property tax relief for homeowners and tenants, reflecting targeted efforts to reduce individual financial burdens. Each of these forms addresses specific taxpayer needs beyond general income reporting, catering to narrower aspects of their financial lives.
Akin to the federal deduction worksheets, the NJ-1040EZ includes specific lines for medical expenses and property tax deductions, simplifying the calculation of allowable deductions. These sections enable taxpayers to lower their taxable income based on personal spending on healthcare and property taxes, mirroring the federal approach to reducing taxable income through personal expense deductions. This similarity highlights the consistent goal of both state and federal tax systems to accommodate individual financial spending in tax calculations.
The NJ Income Tax Withheld section parallels the federal system’s W-2 form information input, where taxpayers report income and withholdings from their employment. Both the NJ-1040EZ and federal tax forms rely on information from W-2 forms to accurately reflect taxes already paid throughout the year, ensuring taxpayers receive credit for these payments. This function underscores the interconnectedness of employer withholding processes and individual tax responsibilities in both state and federal tax systems.
Just as the federal tax system offers a direct debit option for paying any owed taxes, the NJ-1040EZ accommodates electronic payments, including e-checks and credit cards. This provision reflects an understanding of modern financial transactions, emphasizing convenience and security in tax payments. Both systems’ willingness to embrace technological payment methods demonstrates a shift towards more user-friendly tax process interactions.
The NJ Charitable Funds section is analogous to the federal Form 1040’s Schedule A, where taxpayers can itemize deductions, including charitable contributions. Although the NJ-1040EZ offers a streamlined approach by providing options to contribute to specific funds directly on the tax form, both documents encourage and facilitate tax-deductible charitable giving. This feature illustrates the tax systems’ recognition of the importance of charitable contributions to societal well-being.
Similar to the federal Additional Child Tax Credit form, the NJ-1040EZ’s allowances for exemptions and credits related to dependents focus on providing financial relief to families. By allowing deductions for dependent children and other qualifiers like age or disability, both the state and federal forms acknowledge the additional financial responsibilities that come with dependents. These provisions display a commitment to supporting families through tax policies.
The Gubernatorial Elections Fund designation on the NJ-1040EZ resembles the Presidential Election Campaign Fund checkbox on the federal form, offering taxpayers a way to support public financing of elections without affecting their tax liability or refund. This option reflects an effort to involve taxpayers in the political process through their tax returns, emphasizing the importance of public engagement in elections at both state and federal levels.
Lastly, the option to apply refunds toward future taxes or designate them to specific funds on the NJ-1040EZ echoes the federal system’s flexibility in managing refunds. Taxpayers can use their refunds strategically, such as by applying them as estimated tax payments for the next year or donating to public causes, which highlights the adaptability of both tax systems to taxpayer preferences in handling overpayments.
When filling out the NJ-1040EZ form, individuals are required to follow specific instructions and details to ensure accuracy and compliance with tax laws. It is essential to pay close attention to the form to avoid common mistakes that could lead to processing delays or incorrect tax calculations. Here are several do's and don'ts to consider:
It is equally important to carefully review the entire form before submission, ensuring that all applicable sections have been accurately completed and that the form is signed. Tax forms can be complex, but taking the time to review instructions and double-check calculations can prevent common mistakes and ensure your tax return is processed smoothly.
Many individuals have misconceptions regarding the NJ-1040EZ form. These misunderstandings can lead to errors and potentially missed opportunities for taxpayers. It is crucial to address these myths to ensure that New Jersey residents are filing their income tax accurately and efficiently. Below are eight common misconceptions:
Understanding these misconceptions about the NJ-1040EZ form can significantly impact the way New Jersey residents approach their tax filings. It encourages accuracy while maximizing potential benefits within the confines of this simplified tax document.
Filling out the NJ-1040EZ form is a crucial step for residents in New Jersey to ensure they are in compliance with state tax laws. There are several key points to remember when handling this form to ensure accuracy and to take advantage of potential benefits. Here are the top takeaways:
Completing your NJ-1040EZ with attention to detail can ensure a smoother process and prevent common mistakes. Remember, the goal is not only to comply with tax laws but to optimize your tax situation by taking advantage of eligible deductions and credits. When in doubt, consulting the comprehensive instructions or a tax professional can provide clarity and peace of mind.
New Jersey Tax Exempt Form - The NJ ST-5 form does not apply to social clubs, senior citizen groups, or political entities seeking sales tax exemptions.
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