TRENTON – The New Jersey Division of Taxation has announced the official launch of the 2018 Tax Amnesty program to provide individuals and businesses with the opportunity to pay back taxes or file past returns with no penalties and reduced interest.
According to a release, the New Jersey Tax Amnesty program runs from Nov. 15, 2018 through Jan. 15, 2019.
Signed into law in July 2018, the Tax Amnesty program applies to outstanding tax filings or payments that are due on or after Feb.1, 2009 and prior to Sept. 1, 2017.
Benefits to Tax Amnesty include waived penalties such as late filing and late payment, and one-half of the balance of interest due as of Nov. 1, 2018.
“We are pleased to offer taxpayers a chance at compliance and a fresh start through the New Jersey Tax Amnesty program,” stated John Ficara, acting director of the Division of Taxation. “Since Tax Amnesty is offered for a limited time, we’re encouraging taxpayers to take advantage of the program before the Jan. 15 deadline or risk incurring greater penalties.”
Taxpayers who do not take advantage of Amnesty before Jan. 15 will incur a five percent penalty that cannot be waived or abated. This is in addition to all other penalties, interest and other costs authorized by law.
The Division of Taxation recently mailed a letter to all taxpayers who are known to have amnesty-eligible deficient and/or delinquent accounts. In addition, an extensive outreach program has been undertaken to reach as many taxpayers as possible.
For information, New Jersey taxpayers or their representatives may contact Taxation representatives at 1-800-781-8407 Monday through Thursday from 8 a.m. until 6 p.m. and Friday from 8 a.m. until 5 p.m. or visit www.TaxAmnesty.nj.gov.
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