N.J. Stat. § 54:53-15: Waiver of statute of limitations by taxpayer

No offer in compromise shall be accepted unless the taxpayer waives the running of the statutory period of limitations on both assessment or collection of the tax liability involved for the period during which the offer is pending, or the period during which any installment remains unpaid, and for one year thereafter.

L.1975, c. 387, s. 15, eff. March 3, 1976.