In a move to boost revenue, the NJ Department of Treasury (The "State") is offering those owing back taxes a chance to settle up by offering reduced or, in some cases, no penalties, and no collection or recovery fees.
Taxpayers with unresolved tax debt are being given from September 17 to November 17, 2014 to pay any taxes owed to NJ for tax years 2005 to 2013. While penalties are waived, any interest owed is not. The State notes that this should not be regarded as an amnesty program. Amnesty requires legislative approval. This initiative falls under the discretion of the State’s Director of Taxation.
The State is sending notices alerting taxpayers to this opportunity. If you do not receive a notice and want to learn if you qualify, contact your Berdon advisor or Wayne Berkowitz at 212.331.7465 |email@example.com. You can also visit http://www.state.nj.us/treasury/taxation/fall2014.shtml.