I Owe New Jersey $26

I received a notice and bill today from the New Jersey Division of Taxation for $26.11. Since my income in 2006 was higher than I expected and I didn’t adjust my state withholding from my day job (only federal), I owe for back interest that would have been collected on my neglected estimated payments throughout 2006.

This doesn’t bode well for 2007. I didn’t make estimated payments or adjust my withholding this year, either. Additionally, I have to increase my federal estimated payments in order to avoid a penalty as this year’s income is greater than I expected as well.

I have to find myself a tax accountant before it’s too late; I don’t want to pay more penalties.

Scroll down to read 8 comments on “I Owe New Jersey $26.”

Related Entries on Consumerism Commentary

8 Comments on “I Owe New Jersey $26.” To add your own comment, scroll down.

  1. Comment #1 by Joel (reply)
    October 18th, 2007 at 8:11 pm

    Flexo you can probably squeeze a state estimated tax payment in here:

    https://www1.state.nj.us/TYTR_RevTaxPortal/jsp/IndTaxLoginJsp.jsp

  2. Comment #2 by Flexo (reply)
    October 18th, 2007 at 8:24 pm

    Thanks, Joel. I gave that a try, scheduling a payment for the last remaining estimated taxes due date but received an error message indicated the settlement date is invalid. I also tried to schedule a payment for Monday with no luck, either. I’ll have to give them a call to see what my options really are.

  3. Comment #3 by Joel (reply)
    October 18th, 2007 at 8:55 pm

    You’ll have to post the results. I’ll be shocked to hear if a state government won’t take your money!

  4. Comment #4 by Mark McGuire (reply)
    October 18th, 2007 at 9:21 pm

    All you need to do is estimate how much additional withholding you need and divide that by the remaining paycheck for this year and inform your HR rep to make the adjustment.

    I had the same issue and HR added a few bucks for me immediately.

    But definately get a tax accountant, it was the best investment I ever made.

  5. Comment #5 by FinanceAndFat (reply)
    October 19th, 2007 at 10:16 am

    That’s a bum deal! Do we get interest added to our tax REFUNDS at the end of the year (if we have one).

  6. Comment #6 by billp (reply)
    October 19th, 2007 at 3:37 pm

    Hey you better pay up or Joey bag of doughnuts will be visiting you soon!

  7. Comment #7 by Jon5315 (reply)
    October 19th, 2007 at 5:06 pm

    As long as you have paid an amount equal to your previous year’s tax liability there should be no penalty for not paying the total you owe. Then you just pay the difference by April. At least that’s the way it is with the IRS and AZ.

  8. Comment #8 by Flexo (reply)
    October 24th, 2007 at 12:55 am

    Thanks everyone. I tried again to schedule the estimated tax payment for January and was successful. This should bring me up to date for the state and I should be able to avoid penalties for 2007.

Leave a Comment

Enter your comments below. Please note: Use of a non-personal web site or blog in the field below and/or comments that are off-topic, personal attacks, or support requests will likely be removed at my discretion.

Copyright of comments belongs to the comment author, but I reserve the right to edit comments for formatting or content.

Add a photo or icon to your comment by creating an account on Gravatar.

Welcome to Consumerism Commentary

Consumerism Commentary is a blog for men and women who wish to make the most of their financial lives. Read more about Consumerism Commentary.

Cash Loans
CSA 120x120 Animated

Advertise here (more info).
Earn money as an affiliate. Join here.

Contributors

Subscribe via E-mail

Credit Card Offers

Recent Comments

Best of Consumerism Commentary

Recent Articles

Popular on pfblogs.org

Disclaimer

The authors of Consumerism Commentary are not professional financial advisers and no text within this website should be considered financial advice. Any individual who makes financial decisions based solely on the information contained within does so at his or her own risk. Always consult a financial professional.

About Advertising

This website contains advertisements, usually listed as “sponsors.” Some links are for products or services for which Consumerism Commentary is an "affiliate." No articles within the blog are advertisements disguised as blog entries. Consumerism Commentary is not compensated for any content, except for advertising sold. This site contains no Pay-Per-Post (or similar) articles.

Privacy Policy

Carnival of Personal Finance