New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 33 - CLOSING AGREEMENTS AND COMPROMISES
Subchapter 2 - COMPROMISES
Section 18:33-2.4 - Procedure with respect to offers in compromise

(a) Offers in compromise shall be submitted in a form prescribed by the Director. The offer should generally be accompanied by a remittance representing the amount of the compromise offer, or a deposit if the offer provides for future installment payments. Remittance shall be in the form of a certified, cashiers, or treasurers check drawn on any bank or trust company incorporated under the laws of the United States or any state, territory, or possession of the United States, or by a United States postal, bank, express, or telegraph money order. If the final payment on an accepted offer is contingent upon the immediate or simultaneous release of a tax lien in whole or in part, such payment must be in cash, or in the manner as provided in this subsection.

(b) The offer shall be accompanied by the taxpayer's income and financial statement for the last two years (or the taxpayer's Federal income tax returns filed for the last two years), net worth statements for the nearest month preceding the offer and also the prior year's annual net worth statement. There shall be attached an affidavit containing a declaration by the taxpayer that there have been no fraudulent transfers within the past two years preceding the date of the offer.

(c) Compromises regarding trust fund taxes, such as the Sales and Use Tax, shall have annexed to the offer of compromise personal affidavits and personal income and net worth statements of the officers or employees responsible for the collection of any such taxes for the same periods as required from the taxpayer.