Georgia Form 500EZ - Short Individual Income Tax Return 2023

To submit the Georgia Form 500EZ, mail your completed form to the Georgia Department of Revenue Processing Center at PO Box 740399, Atlanta, GA 30374-0399 if you owe taxes. If you are due a refund, mail to PO Box 740380, Atlanta, GA 30374-0380. Ensure you include all required information and signatures before sending. For any additional inquiries, contact the Georgia Department of Revenue through their online contact form or call their customer service number. It's advisable to keep copies of your submission for your records.

For the Georgia Form 500EZ, important dates for 2024 and 2025 include: Tax filing season opening - typically late January; Last day to file state taxes without an extension - April 15; Extended tax return deadline - October 15 (if applicable).

The Georgia Form 500EZ is designed to simplify the tax filing process for residents with straightforward financial situations. This form caters specifically to individuals who meet certain criteria, such as having an income below $99,999, not itemizing deductions, and having income solely from wages, salaries, tips, dividends, and interest. By using this form, eligible taxpayers can efficiently report their state tax obligations and ensure compliance with Georgia's tax laws. Using the form, taxpayers can enter details such as adjusted gross income, tax deductions, and tax credits. Additionally, the form provides sections for reporting charitable contributions and specifying whether a refund should be directly deposited into a bank account. This streamlined approach helps eligible residents of Georgia quickly complete their state tax returns without unnecessary complexity. The purpose of the form also includes areas for signatures and pertinent information required for legal declarations. Submission of the Georgia Form 500EZ ensures timely and accurate processing by the Georgia Department of Revenue, which in turn assists in maintaining compliance with state tax regulations and contributes to the overall fiscal health of the state.

• 1. Adjusted Gross Income: Enter the adjusted gross income from Federal Form 1040, which cannot exceed $99,999.
• 2. Filing Status Deduction: Based on filing status, enter appropriate deduction amount: $8,100 for single or $14,500 for married filing jointly.
• 3. Tax Calculation: Subtract Line 2 from Line 1 and use the Tax Rate Schedule from the IT-511 Tax Booklet to find the tax on the amount.
• 4. Low Income Tax Credit: Enter the low-income tax credit amount, if applicable. Not allowed if claimed as a dependent on another return.
• 5. Tax Withheld: Enter the amount of Georgia income tax withheld from W-2s and 1099s.
• 6. Overpayment and Refund: If Line 7 is larger than Line 6, subtract Line 6 from Line 7 to determine the overpayment amount. If due a refund, enter the amount on Line 24.
• 7. Charitable Contributions: Enter donations to various state funds, such as the Georgia Wildlife Conservation Fund and Georgia Cancer Research Fund.
• 8. Direct Deposit: If opted for a refund, enter your bank's routing number and account number for direct deposit.
• 9. Signatures: Taxpayer and spouse (if applicable) must sign and date the form, with spaces for preparer's details if completed by someone else.

Failure to submit the Georgia Form 500EZ may result in penalties and interest for late payment. It can also lead to delays in processing your return and potential legal action from the state tax authorities.

• Penalties: A penalty may be imposed for failing to file or pay taxes on time.
• Interest: Interest will accrue on unpaid tax amounts from the due date until paid in full.
• Legal Action: Failure to file or pay taxes may result in legal actions including property liens and wage garnishments.
• Delayed Refunds: Delays in filing the form could result in postponed refunds if you are owed money back from the state.
• Account Complications: Failure to submit can lead to complications with your tax accounts, requiring additional steps for resolution.

• 1. Simple Returns: For taxpayers with straightforward incomes such as wages, salaries, tips, dividends, and interest.
• 2. No Itemized Deductions: Useful for taxpayers who do not itemize deductions and use the standard deduction amounts.
• 3. Full-Year Residents: Applicable to individuals who lived in Georgia for the entire tax year.
• 4. Low to Moderate Income: For those whose adjusted gross income does not exceed $99,999.
• 5. No Dependency Claims: Best for individuals who do not claim additional exemptions beyond themselves or their spouse.