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New Jersey: Tax amnesty available through January 15, 2019

New Jersey: Tax amnesty available through January 15

The New Jersey Division of Taxation announced the dates of a tax amnesty program that was authorized by legislation enacted earlier this year.

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The tax amnesty program began November 15, 2018, and ends January 15, 2019. 

Any taxpayer that has failed to pay any qualifying state tax that is due may pay the full amount of tax owed and half the interest due as of November 1, 2018, without being required to pay any remaining interest as well as any penalties and fees relating to the unpaid tax (e.g., late-payment penalties, late-filing penalties, cost-of-collection fees or recovery fees). 

Amnesty is available for all unpaid liabilities, both known and unknown, for taxes administered by the Division of Taxation that were due on or after February 1, 2009, and prior to September 1, 2017. 

A non-waivable 5% penalty (in addition to all other penalties or interest authorized by law) is imposed on any liability that is eligible for amnesty, but not satisfied. Liabilities that are only partially satisfied during the amnesty will have all interest and penalties, including the additional 5% amnesty penalty, applied to the unpaid balance.

 

Read a November 2018 report [PDF 155 KB] prepared by KPMG LLP

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