New Jersey Division of Taxation Launches Limited-Time Tax Amnesty Program

State Will Slash Interest in Half; Waive Penalties for Individuals and Businesses

TRENTON, N.J., May 4 /PRNewswire/ — The New Jersey Division of Taxation has initiated a limited time Tax Amnesty program for individuals and businesses that, due to tough economic times, owe taxes and are now confronted with accumulating interest payments and penalties. Beginning Monday, May 4, and until June 15, 2009, the Division will waive all penalties and forgive half of the interest owed.

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Tax Amnesty is available to individuals and businesses that owe unpaid taxes to the Division of Taxation for tax returns due on or after January 1, 2002 and before February 1, 2009. After the Tax Amnesty period ends, an additional 5% penalty will be imposed on all outstanding tax amounts. In addition, all other penalties, interest and other costs authorized by law will be added back and the Division will aggressively pursue collection of the entire liability. Nearly everyone, except taxpayers under criminal investigation for a State tax matter, is eligible for the program.

The program will benefit delinquent taxpayers who, because of financial hardship or other factors, have not met their tax obligations. The revenue raised will also help the State maintain services and programs that benefit all New Jersey residents.

Mark S. Wintermute, Special Assistant to the Director of the Division of Taxation, has been named Tax Amnesty Administrator and will oversee all operations of the program. Prior to his tenure as Special Assistant, Wintermute was Chief of Staff to four Directors, serving in this capacity from 1997 until 2008. He has been with the Division since 1979.

“We have noticed that many individuals and businesses that are usually compliant have fallen behind in their tax obligations. This is an opportunity for them to catch up and have a fresh start,” said Wintermute.

A far-reaching strategic media campaign has been launched to inform as many potential participants in the Tax Amnesty as possible. Letters advising of the Amnesty have been sent to those known to owe unpaid taxes and returns to the State. Outreach also includes ads, billboards, editorial and public service announcements on radio, television, newspapers and the Internet that will be seen and heard in New Jersey and throughout the country. The media campaign is being waged in English and Spanish. The Web site, TaxAmnesty.nj.gov, translates the terms of the Tax Amnesty in several other languages.

More information about the Tax Amnesty program is available at TaxAmnesty.nj.gov and by calling 800-781-8407. The Division also offers a speakers bureau to address questions from organizations and groups.

SOURCE New Jersey Division of Taxation