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Screen NJPen - New Jersey Penalties and Interest (1040)

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Overview

Use this screen to complete Form NJ-2210.

General Information

Use this section to enter information for the calculation of Form NJ-2210 penalties and late filing penalties and interest.
Date return filed
If the date entered in this field is later than the return due date, UltraTax CS automatically calculates the late filing penalty and the interest on the underpayment. If this field is blank, it defaults to the due date (original or extended) of the return. New Jersey may impose additional late filing and late payment penalties. These aren't calculated by UltraTax CS.
UltraTax CS prints penalty and interest amounts, if applicable, on the New Jersey Balance Due / Refund Worksheet and in the margin of Forms NJ-1040 or NJ-1040NR next to the Amount you owe line. Late penalties must be separated out in this manner since the New Jersey Division of Taxation requires the Amount you owe to equal nothing other than the total tax minus total payments and credits, plus charitable contributions.
Suppress penalties on return: Underpayment of estimated tax / Late filing interest / Failure to file
To suppress specific penalties, mark the appropriate field.

Underpayment of Estimated Tax

Use this section to enter information for the calculation of exceptions to penalties.
2024
 tax (Exception 1)
Enter the taxpayer's prior year tax. The state is looking for the "Balance of tax after credit" line on the return. Don't reduce for property tax credit or earned income credit which are treated as payments to reduce tax on the Form 2210.
UltraTax CS uses this information to complete the Exception 1 line on Form NJ-2210. If no return was filed, leave this field blank. If the taxpayer's tax liability for the prior year was 0, enter
0
 (zero).
2024
 New Jersey gross income (Exception 2)
Enter the taxpayer's prior year New Jersey gross income. UltraTax CS uses this information to complete the Exception 2 line on Form NJ-2210. If no return was filed, leave this field blank. If the taxpayer's tax liability for the prior year was 0, enter
0
 (zero) in this field. For Electronic Filing, exception 2 isn't supported. If electronic filing is desired, it's recommended that this entry be cleared before creating the electronic file.
New Jersey withholding as actually withheld
Enter the amount of withholding for the 1st 3 quarters of the year. The 4th quarter will automatically calculate as the total withholding and Schedule K-1 estimates less the amounts entered in these fields.

Annualized Income Installment Method

Use this section to enter information for the calculation of penalties.
Tax on
2025
 annualized income (Exception 3): New Jersey gross income
Enter current year New Jersey annualized gross income for the applicable periods. UltraTax CS uses this information to complete the Exception 3 line on Form NJ-2210.
Tax on actual
2025
 taxable income (Exception 4): New Jersey taxable income
Enter actual current-year New Jersey taxable income for the applicable periods. UltraTax CS uses this information to complete the Exception 4 line on Form NJ-2210.
Credit for income taxes paid
Enter actual current year credit for income taxes paid to other jurisdictions for the applicable periods. UltraTax CS uses this information to complete the Exception 4 line on Form NJ-2210.

Waiver of Underpayment Penalty

Use this section to request a waiver of penalty amounts.
Explanation of waiver request
UltraTax CS displays the amount entered in this field and the text "Waiver" on the Underpayment of Estimated Tax by Individuals form. UltraTax CS subtracts this amount from the penalty calculation and transfers the difference to the tax return. You'll need to complete the
Explanation of waiver request
 field for this field to be included in the form calculation.
Amount
Use the statement window to enter an explanation if the taxpayer is requesting a waiver of the underpayment penalty. An entry in this field is mandatory when a request to waive an amount is made.

Nonresident Underpayment of Estimated Tax

Use this section to enter the amount from non-calcualtiong NJ-2210NR.
Penalty interest for 2210-NR
User this field to enter the interest calculated on the NJ-2210NR form. Form NJ-2210NR is in the Non-calc folder. The form must be completed when e-filing a nonresident return that has a penalty amount entered in this field

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