The New Jersey legislature may enact a law that would create a tax amnesty program for New Jersey taxes.  If enacted, the amnesty program would not exceed 45 days or end later than June 15, 2018.  Under the amnesty program, a taxpayer who previously failed to pay New Jersey tax could pay the deficiency and only half the accrued interest by May 1, 2018.  Eligible taxpayer, however, who choose not to participate in the amnesty program would be subject to an additional 5% penalty.  In addition, participating taxpayer would not be subject to civil or criminal penalties related to the New Jersey taxes.

The amnesty program, however, would only apply to New Jersey tax returns due between February 1, 2009 and January 1, 2018.  Taxpayers under criminal investigation for a New Jersey tax matter would not be eligible for the program.  If New Jersey enacts the amnesty program, it will be a good opportunity for taxpayers to address outstanding New Jersey tax issues.

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