New Jersey Tax Amnesty Program Begins November 15, 2018
New Jersey’s tax amnesty program began November 15, 2018. The program runs through January 15, 2019, during which time eligible taxpayers can disclose and pay any outstanding taxes administered by the New Jersey Division of Taxation for which returns were due between February 1, 2009 and September 1, 2017. Local taxes and taxes administered by other New Jersey agencies, such as payroll taxes and real property taxes, are not eligible for the amnesty program.
Under the terms of the amnesty program, a taxpayer must pay the full amount of the tax due, plus one half of the interest, by the end of the amnesty period, January 15, 2019. If the taxpayer has not previously filed the tax return for the taxes covered by the amnesty program, the return or returns must be filed on or before the last day of the amnesty period. Penalties (except for any civil fraud or criminal penalty) and the remaining interest due will be waived. The amnesty program is not available to taxpayers under criminal investigation or those who have been charged by a prosecutor or the Attorney General for a New Jersey tax matter. Amnesty is available to taxpayers who have applied for relief under a voluntary disclosure program, and who may have been notified of, or are currently participating in, a civil audit by the Division of Taxation.
If a taxpayer is eligible to participate in the amnesty program and fails to do so, the Division will impose a penalty equal to 5 percent upon any state tax liability which is eligible to be satisfied during the amnesty program period. The 5 percent penalty cannot be abated or waived by the Division.
Eligible taxpayers may have received an amnesty notice by mail prior to November 15, 2018. Taxpayers who have not received a notice may still be eligible to participate in the amnesty program.
If you are interested in learning more or discussing your eligibility for the New Jersey Tax amnesty program, please contact one of the attorneys listed below.