If you're one of the 750,000 delinquent taxpayers that owe New Jersey some money, the state has a break for you.

The Division of Taxation on Thursday announced the launch of a two-month tax amnesty program for individuals and businesses that failed to file or pay taxes between Feb. 1, 2009 and Sept. 1, 2017.

Those who settle up with the state by Jan. 15, 2019, can see any accrued penalties waived and a 50 percent reduction in interest due.

"After January 15th of 2019, we may asses a 5 percent penalty on unpaid tax," Frank Liberi, administrator of the program, told New Jersey 101.5.

The Division recently mailed letters to roughly 750,000 taxpayers whose accounts are eligible for amnesty.

Qualifying taxpayers can file for amnesty at taxamnesty.nj.gov, which refers to the program as the best gift some people may receive this holiday season. Taxation representatives can be reached by phone Monday through Friday at 1-800-781-8407.

The program was signed into law in July as part of a compromise during budget negotiations.

Past amnesty initiatives have proved successful for New Jersey, Liberi said. The state collected $725 million from individuals and businesses during a 2009 amnesty.

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Contact reporter Dino Flammia at dino.flammia@townsquaremedia.com.

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