Time is running out for New Jersey residents and businesses to take advantage of the state’s tax amnesty program, which ends Jan. 15.
The temporary program allows people to pay their delinquent taxes and half the interest they owe. The state waives the other half of the interest as well as any financial penalties for late payment.
Trenton occasionally rolls out a tax amnesty program to get a quick revenue boost. Officials say discounts on unpaid tax obligations prompt people to settle up with the state.
So far, more than 50,000 people have contacted the state Treasury with questions about the current tax amnesty program.
Treasury officials, who have not said how much revenue has been collected from the program that started Nov. 15, said thousands have participated so far.
Eligible taxpayers include those with unpaid levies between February 2009 and August 2017.
Frank Liberi, the Treasury’s tax amnesty administrator, said payments can be made on the Treasury’s website or in person.
“If you agree to it, you make the payment online. It’s as simple as that,” he said. “You can also visit one of our field offices if that’s more convenient for you.”
The Treasury will levy a 5 percent penalty on people who are eligible for New Jersey’s tax amnesty program but do not take part.