Ne Jersey Tax Amnesty

Tax Amnesty

• A-3438 provides for a 90-day tax amnesty period to run through no later than January 15, 2019.
• Under the new amnesty, any taxpayer with liabilities for returns due on or after February 1, 2009, can pay the tax, plus half the interest due as of November 1, 2018 and avoid any penalties with the exception of criminal and civil fraud penalties.
• An eligible taxpayer cannot be notified of or be under criminal action or investigation.
• The new law also imposes a 5 percent non-participation penalty for liabilities eligible for amnesty that are subsequently discovered by the Division of Taxation.