Market Overview

State of New Jersey's Tax Amnesty Program Ends January 15

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Final Opportunity for taxpayers to file before deadline or incur
additional fees

The New Jersey Division of Taxation reminds taxpayers to take advantage
of the New Jersey Tax Amnesty program as the January 15 deadline is fast
approaching. Tax
Amnesty
provides individuals and businesses with the opportunity to
pay back taxes or file past returns with no penalties and reduced
interest, but Tax Amnesty payments must be paid no later than January 15.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190102005089/en/

Signed into law in July 2018, the New Jersey Tax Amnesty launched on
November 15, 2018. The 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, and one-half of the balance of interest
due as of November 1, 2018.

"Thousands of New Jersey taxpayers have already taken advantage of the
benefits of the Tax Amnesty program but time is running out," said John
Ficara, Acting Director of the Division of Taxation. "We strongly urge
anyone who qualifies for amnesty to take advantage of the program by the
January 15 deadline, to avoid incurring greater penalties."

Taxpayers who do not take advantage of Amnesty before January 15 will
incur a five percent penalty that cannot be waived or abated. This is in
addition to all other penalties, interest and other costs authorized by
law.

In November, the Division of Taxation mailed a letter to all taxpayers
who are known to have amnesty-eligible deficient and/or delinquent
accounts. In addition, an extensive outreach program has been undertaken
to reach as many taxpayers as possible.

For more information, New Jersey taxpayers or their representatives may
contact Taxation representatives at 1-800-781-8407 Monday through
Thursday from 8 a.m. until 6 p.m. and Friday from 8 a.m. until 5 p.m. or
visit www.TaxAmnesty.nj.gov.

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