Let this serve as a warning about how quickly fees can add up on your EZ-Pass account if you don’t pay tolls on time. A Long Island woman asked Better Get Baquero for help when she was told she owed more than $37,000. Lynda Baquero has the story.
Will New Jersey drivers who use E-ZPass to pay their tolls get tax deductions?
Possibly. That is, if a bill introduced earlier this year passes.
Senators James W. Holzapfel (R-Monmouth and Ocean) and Patrick J. Diegnan, Jr. (D-Middlesex) who sponsored the bipartisan Bill S520 which was introduced to the State Senate on Jan. 9, and referred to the State's Senate Budget and Appropriations Committee on Jan. 11, where it has sat eversince.
If the bill passes the state's Senate and Assembly, and is then signed into law by Gov. Phil Murphy, New Jersey drivers who use E-ZPass to pay $1,000 at tolls during the taxable year will be allowed tax write-offs.
According to the bill, the measure is to give some respite for costs to commuters.
"This bill is intended to assist individuals in offsetting the considerable expenses associated with commuting, which have been aggravated by the recent increase in the State gasoline tax rate. By providing toll-paying commuters with a way to offset a portion of their costs, this bill recognizes that these individuals are paying more than their fair share of the burden of maintaining safe, modern, and ample roadways in the State," the bill reads in part.
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This does not mark the first attempt at a bill that touches upon tax deductions for E-ZPass users. There have been versions of this bill that go back years.
