Form Rp 425 Wkst PDF Details

In the realm of homeownership and tax benefits in New York State, understanding the intricacies of various forms and worksheets can significantly impact an individual's eligibility and financial advantages. Among these, the RP-425-Wkst form, crafted by the New York State Department of Taxation and Finance's Office of Real Property Tax Services, plays a critical role for a specific group of homeowners. This form, titled "Income for STAR Purposes Worksheet," is particularly designed for individuals who are not obliged to file a federal or New York State income tax return, yet seek to benefit from the STAR (School Tax Relief) program. The STAR program offers property tax relief by making eligible homeowners exempt from a portion of their school property taxes. To navigate this process, the RP-425-Wkst worksheet provides a structured method for calculating one's income, exclusively for STAR purposes. It requires detailed information such as total wages, salaries, tips, taxable interest income, dividends, unemployment compensation, pensions, annuities, social security benefits, and other sources of income, all aimed at determining the individual's STAR income. It reinforces its necessity by mandating documentation like Form W-2 or Form 1099 as attachments for verification. Completing and accurately certifying this worksheet is a pivotal step for those looking to maximize their tax benefits without the standard obligation of filing tax returns, emphasizing both the document's importance and the attention it demands.

QuestionAnswer
Form NameForm Rp 425 Wkst
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesTaxable, New_York, Taxation, Worksheet

Form Preview Example

New York State Department of Taxation and Finance

RP-425-Wkst

Ofice of Real Property Tax Services

(5/12)

Income for STAR Purposes Worksheet

To be used by individuals not required to ile a federal or New York State income tax return.

Name of owner(s)

 

 

 

 

 

 

 

 

Location of property

 

 

 

 

 

 

 

 

 

 

Street address

 

 

City/town

 

 

 

 

 

 

 

 

 

Village (if any)

 

 

School district

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worksheet for STAR Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Enter the amounts below that would have been reported if you were required to ile a federal or state income tax return (round to the

nearest whole dollar).

 

 

 

 

 

1

Total wages, salaries, and tips (attach W-2(s))

1.

 

 

 

2

Taxable interest income and dividends

2.

 

 

 

3

Unemployment compensation

3.

 

 

 

4

Total pensions and annuities. Do not include IRA distributions (attach Form 1099)

4.

 

 

 

5

Social security beneits (attach Form 1099)

5.

 

 

 

6

Other income (list type and amount)

6.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

Add lines 1 through 6

7.

 

 

 

8

Adjustments to income (list type and amount)

8.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9

Subtract line 8 from line 7. This is your STAR income

9.

 

 

 

 

 

 

 

 

 

 

 

 

 

I (we) certify that all of the above information is correct and that I am (we are) not required to ile a federal or New York State income tax return. All owners must sign and date below.

Signature

Date

Signature

Date

Signature

Date

Signature

Date

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