The State of New Jersey has enacted a new Tax Amnesty Program.
It is effective from November 15, 2018 through January 15,
2019.
Under the program, amnesty-seekers pay only the amount of the
taxes they owe plus one-half of the interest which was due as of
November 1, 2018. No penalties will be asserted, nor will cost
recovery fees or other costs of collection be imposed.
Failure to take advantage of the program will result in an
automatic 5% amnesty penalty on all eligible tax balances which
remain after January 15. Once asserted, that penalty cannot be
waived or abated.
The taxes for which amnesty is available are all tax liabilities
incurred for tax returns due on or after February 1, 2009 and prior
to September 1, 2017.
