NJ-2210: Underpayment of Estimated Tax by Individuals (2024)

Who files this form

Use Form NJ-2210 to determine whether you owe interest on underpaid estimated tax for 2024. It applies to individuals, estates, and trusts. Estates and trusts that meet the two-year limitation and other criteria of federal Internal Revenue Code section 6654(1)(2) are excepted.

You may owe interest if your estimated payments, including withholding, were not at least 80% of your 2024 tax liability or 100% of your 2023 tax liability. The prior-year comparison requires a 2023 return covering a full 12 months.

Complete Part I to check each payment period, then Part II if you have an underpayment.

• If line 3 is less than $400, do not complete the rest of the form.
• If line 12 is zero for every payment period, you do not owe this interest and do not have to file NJ-2210.
• If you meet Exception 1 at line 15, do not file NJ-2210. The Division of Taxation will verify those amounts.

When it's due

For tax year 2024, NJ-2210 lists these estimated tax payment due dates:

• April 15, 2024
• June 17, 2024
• September 16, 2024
• January 15, 2025

These are payment due dates, not a separately stated filing deadline for NJ-2210.

What you'll need

Have these returns and payment details available:

• Your 2024 Form NJ-1040, including line 50 and lines 55, 56, and 58 through 65.
• Your 2023 Form NJ-1040 for the prior-year tax amount on line 50 and, if using Exception 2, gross income on line 29.
• Estimated tax payment amounts and dates, withholding amounts, and any credit from your prior-year return.
• If claiming an exception, the applicable income, exemption, and Credit for Income Taxes Paid to Other Jurisdictions amounts used by its worksheet.
• For Exceptions 3 and 4, income and applicable credit amounts for each period shown on the worksheet.

Complete the appropriate worksheets for Exceptions 2, 3, and 4 and attach all calculations for each exception claimed.

How to file

Enclose NJ-2210 with your return and fill in the oval at line 52 of Form NJ-1040. Include total interest from line 19 of NJ-2210 on line 52 of NJ-1040.

Attach the worksheets and calculations required for any claimed Exceptions 2, 3, or 4.

The supplied text does not give a mailing address or e-file instructions.

Common mistakes

• Completing columns out of order. Finish lines 7 through 13 for one column before starting the next.
• Putting a prior-year credit in the wrong period. Include the full credit from your prior-year return in column B on line 6.
• Allocating withholding incorrectly. Treat total withholding as paid evenly, one-fourth on each payment due date, unless you can show otherwise.
• Including later withholding on line 14. Do not include withholding after December 31, 2024.
• Leaving out exception calculations. Complete the worksheets for Exceptions 2, 3, and 4 and attach calculations for each exception claimed.
• Using Option 1 for late estimated payments. If your 2024 estimated payments were not timely, calculate interest using the Interest Rate Schedule in Option 2.

Questions people ask

Can an exception eliminate interest for a payment period?

Yes. You do not have to pay interest for a period if your payments on line 14 were made on time and equal or exceed the amount calculated under any of the four exceptions for that period.

What if I was not required to file a prior-year return?

For Exception 1, your prior-year tax liability is zero if you were not required to file a return.

Is the calculation different for qualified farmers?

Yes. On line 4a, qualified farmers use two-thirds of the amount on line 1 instead of 80%.

Do estates and trusts use different annualization figures?

Yes. For the Exception III worksheet, estates and trusts use period ending dates of February 29, April 30, and July 31, 2024. They use annualization amounts of 6, 3, and 1.7143, respectively, instead of the amounts printed on line 2.

Official sources

• https://www.nj.gov/treasury/taxation/pdf/other_forms/tgi-ee/2024/2210.pdf