N.J. officials hope to avoid ‘April surprise’
Monday is the deadline to file 2010 federal income tax returns.
New Jersey officials are hoping there’s no April surprise that would affect the state budget as Garden State residents file their state returns.
New Jersey’s revenue is running ahead of the Christie administration’s projections for the current fiscal year.
And Treasury Department spokesman Andy Pratt said April is the biggest month for income tax collections.
He said there is some concern whether people have waited to file for tax refunds.
“Normally if you’re expecting a large refund, you file for it early. But if people wait until the last minute that can throw the system out of kilter when it terms to how much we collect,” he said.
Pratt said the amount of quarterly sales tax payments will also help determine if revenues are in line with estimates so the state has the money to provide all of the services funded by the budget.
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