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New Mexico offered cash assistance to residents last year to help them cover the rising cost of living. If you haven't received the new mexico tax rebate yet, you still have a few days to claim the assistance money. You need to file a 2021 personal income tax return to claim the rebate.
2022 New Mexico Tax Rebate: How To Claim It
Eligible New Mexico taxpayers have about a week to file a 2021 New Mexico Personal Income Tax Return to get a rebate of up to $1,000. The deadline to file the income tax return is Wednesday, May 31.
Single filers are eligible for $500, while couples filing jointly and heads of household will get $1,000.
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The New Mexico Taxation and Revenue Department also issued a reminder informing residents that they need to file their tax returns to get the rebate.
“Eligible taxpayers must file a 2021 New Mexico return by May 31, 2023 to receive the rebates enacted during the 2022 special legislative session,” the Department said in a press release .
Those who have already filed their 2021 income tax return but haven't yet received the rebate, it might be because the authorities don't have your correct address.
To update your address, visit the taxpayer access point website at tap.state.nm.us , or fill out and submit a
form rpd-41260, the personal income tax change of address form , to the Taxation and Revenue Department.
Deadline To Claim Other Rebates From New Mexico
It must be noted that the May 31 deadline is to claim the rebate enacted during the 2022 special legislative session. Alternatively, taxpayers have until June 30, 2023 to file a return and receive the rebates enacted in the 2022 regular legislative session.
Separately, taxpayers have until May 31, 2024 to file their 2021 Personal Income Tax to qualify for the rebate that the Department will start issuing on June 16, 2023. This new rebate was enacted during the 2023 regular legislative session.
Those who have already filed their 2021 Personal Income Tax don't need to take any further action to claim the New Mexico tax rebate. Since the 2023 rebate is also tied to the 2021 return, anyone who has changed their address since the 2021 filing must update it.
The Taxation and Revenue Department says it won't start sending out this year's rebates until late June. So, taxpayers still have time to update their addresses to ensure they get the rebate money without unnecessary delay.
“We are urging taxpayers to be patient about this year's rebates, which will be distributed in June,” the Taxation and Revenue Secretary Stephanie Schardin Clarke said.
Updating mailing information is important even for taxpayers who received their tax refund via direct deposit. Most rebates will be issued by direct deposit, but if any taxpayers' banking information has changed since the 2021 filing, the Department will send the rebate as a paper check.
Undeliverable rebate checks are returned to the Department's Unclaimed Property Division. New Mexico tax rebate checks issued last year will soon come under Unclaimed Property. Visit this page at tax.newmexico.gov to get information on how to recover any unclaimed property.