By Chris Whalen, CPA ~
NJ is proposing a Tax Amnesty Program starting July 1, 2018 and it will last for three months. The Amnesty period is 2014 through 2016.
You are eligible only if you are NOT under criminal investigation.
This program is great for people with prior balances and for Non-Filers.
These are the specifics: Interest would still be due, but penalties and recovery fees are waived. If you don’t take advantage of the program, a 5 percent penalty will be added to your balances due.
This program does NOT reduce your tax liabilities.
Non-Filer? It may be time to come out of the shadows.
Please contact me so we can get started working on your account, and make sure you are first in line to take advantage of this Amnesty Program on July 1. Feel free to reach out to me without hesitation with any tax, business or accounting question, and to schedule a consultation.
Tax Laws are complex.
It is very easy to make mistakes that can incur penalties.
“If We Aren’t Working For You, Then You Aren’t Working At Your Best”
Chris Whalen, CPA
79 Oak Hill Road
Red Bank, NJ 07701