New Jersey launched a tax-amnesty program in November that’s set to run through January 15. Treasury officials are being coy about whether people are showering them with lots of moolah. All they’d say on that point, as of December 15, was that they “began receiving payments on outstanding tax balances the very first day of the amnesty program.” And, they noted opaquely that they “believe the response to be right on target at this point.” Treasury will need to haul in $200 million from dilatory taxpayers; that was the figure mentioned when the program was launched last month.
They were more forthcoming on the number of phone enquiries made to Treasury so far on the subject (32,826) and the number of emails (3,485).
There’s a lot riding on this tax amnesty; the state is really counting on that $200 million. Anything short of that goal would require the Murphy administration to make midyear cuts or enact other budget adjustments to keep spending in balance.