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Wednesday, December 12, 2018

New Jersey Offers Tax Amnesty

For a limited time, the State of New Jersey is offering a tax amnesty program to give delinquent taxpayers a chance to catch up on filing and payment and save on penalties and half the interest due.  The program runs until January 15, 2019.
Returns administered by the New Jersey Division of Taxation that were due on or after February 1, 2009 through September 1, 2017 are eligible for the program.  Property taxes and payroll taxes are not eligible.  The program helps taxpayers avoid most penalties, collection fee costs, and ½ of the interest that would otherwise be due!  Civil fraud penalties and criminal penalties are not waived.

To qualify under this program, all required tax returns and any associated tax amnesty payments must be received by the State by January 15, 2019.  There are no extensions to that date.

After the amnesty period, all penalties and interest will apply along with an ADDITIONAL 5% penalty.

To see what taxes are and are not covered, visit the NJ Tax Amnesty webpage at https://www.taxamnesty.nj.gov/guidelines.shtml.

Honorine M. Campisi, CPA

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