54:38A-3 - Compromise and settlement of certain tax claims or liens; waiver of defenses - New Jersey Statutes

54:38A-3.  Compromise and settlement of certain tax claims or liens; waiver  of defenses
    Where any lien or claim for any past due transfer inheritance taxes or estate or transfer taxes shall be brought into question, claimed to be invalid or impaired, or shall be in the course of litigation, and the State Commissioner of Taxation and Finance or the Director of the Division of Taxation of the State Department of Taxation and Finance, shall, after investigation, determine that there is reasonable doubt of the State's ability to enforce said lien or claim or to collect the taxes due, or claimed to be due, or that there is a reasonable doubt that said lien is valid or unimpaired,  such officer shall be empowered and authorized to enter into an agreement with  the executor, administrator or trustee of any estate against whose assets said  lien or claim shall be asserted, or the heirs, next of kin or beneficiaries  succeeding to the property of any decedent against which such lien or claim is  asserted, to alter, revise, compromise and settle all claims or liens for past  due inheritance taxes or estate or transfer taxes, together with all interest  or interest penalties thereon;  provided, however, that the executor,  administrator, trustee, heir or heirs, next of kin, beneficiary or  beneficiaries, shall waive all defenses which might be set up against the claim  or lien of the State and shall submit to such terms of payment and settlement  as the Commissioner or Director shall deem to be equitable and just and in the  best interest of the State.

     L.1945, c. 127, p. 481, s. 1.