New Jersey launches tax amnesty
The New Jersey Division of Taxation has launched the 2018 Tax Amnesty Program to allow individuals and businesses to pay back taxes or file past returns with no penalties and reduced interest.
The program runs from Nov. 15 through Jan. 15.
The amnesty applies to outstanding tax filings or payments that were due on or after Feb. 1, 2009, and prior to Sept. 1, 2017. Benefits to the program include waived penalties such as for late filing and late payment, and one-half of the balance of interest due as of Nov. 1. Taxpayers who don’t take advantage of amnesty before Jan. 15 will incur a 5 percent penalty in addition to all other penalties, interest and other costs.
New Jersey taxpayers may contact state taxation representatives at (800) 781-8407 Monday through Thursday from 8 a.m. to 6 p.m. and Friday from 8 a.m. to 5 p.m., or they can visit the N.J. Tax Amnesty webpage.