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EP30: What Happens If You Don't File Your New Jersey Sales Tax Returns?
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What happens if you don't file your New Jersey sales tax returns?
Like most states, New Jersey relies heavily on their sales tax revenue for funding. If you don't file sales tax, New Jersey will assess the amount that can be wildly higher than your liability, and you can go back and file the returns and reduce that amount. Sometimes it can be lower than what the actual liability is. They can add penalties and interest, for which you can request penalty abatement or work out a payment plan.
You must look at the bill and the numbers and see if it's correct. Take action, negotiate a payment plan and get current because otherwise, you could risk your business license being revoked, voided, or considered inactive.
JLD Tax Resolution Group can help you easily solve a complex tax problem. Schedule your free consultation at 201-479-2572 or visit www.201tax.com.
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