TRENTON, NJ – The New Jersey Division of Taxation is reminding taxpayers that the deadline for the New Jersey Tax Amnesty program is January 15.
The program provides individuals and businesses with the opportunity to pay back taxes or file past returns with no penalties and reduced interest. According to the New Jersey Division of Taxation, in order for a tax to be eligible for New Jersey tax amnesty, it must be administered and collected by the New Jersey Division of Taxation. This excludes taxes such as local property taxes and payroll taxes owed to the New Jersey Department of Labor.
“Thousands of New Jersey taxpayers have already taken advantage of the benefits of the Tax Amnesty program but time is running out,” said John Ficara, Acting Director of the Division of Taxation. “We strongly urge anyone who qualifies for amnesty to take advantage of the program by the January 15 deadline, to avoid incurring greater penalties.”
Signed into law in July 2018, the New Jersey Tax Amnesty launched on November 15, 2018. The program applies to outstanding tax filings or payments that are due on or after February 1, 2009 and prior to September 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 November 1, 2018.
Taxpayers who do not take advantage of Amnesty before January 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. All required tax returns and tax amnesty payments must be received by 11:59 p.m. on January 15, 2019.
For more information, 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.