New Jersey Sets Tax Amnesty Period

first_imgNew Jersey announced that the 2018 tax amnesty program runs from November 15, 2018, through January 15, 2019.Application Of Tax Amnesty ProgramSigned into law in July 2018, the tax amnesty 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, andone-half of the balance of interest due as of November 1, 2018.Taxpayers who do not take advantage of the tax amnesty before January 15 will incur a 5% penalty that cannot be waived or abated. This is in addition to all other penalties, interest and other costs authorized by law.News Release, New Jersey Division of Taxation, November 16, 2018Login to read more tax news on CCH® AnswerConnect or CCH® Intelliconnect®.Not a subscriber? Sign up for a free trial or contact us for a representative.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *

*
*