Get Your 1000$ Tax Rebate Check for New Mexico
If you are a resident of New Mexico and have not yet received your $1,000 tax rebate check, there is no need to worry. You still have the opportunity to claim it. This article will provide you with all the information you need to know about the New Mexico tax rebate and how to secure it.
Background on the $1,000 Tax Rebate
In June of this year, the distribution of the $1,000 tax rebate checks began for many New Mexico residents. These checks were automatically sent to individuals who filed their 2021 Personal Income Tax (PIT) returns. However, if you have not received your rebate check because you have not filed your PIT return, you can still claim it.
The tax rebate was approved by Governor Michelle Lujan Grisham to help residents cope with the impact of rising consumer prices. The surplus generated from high oil prices during the fiscal year enabled the state to redistribute funds to eligible residents.
Qualification and Amount
New Mexico’s financial health is currently strong, and the rebate aims to benefit its families. Eligible residents who filed their 2021 PIT return will automatically receive the rebate. It is important to note that recipients of the rebate must not have been claimed as dependents on another taxpayer’s return.
Single individuals (or married individuals filing separately) will receive $500, while couples filing jointly (including heads of household and surviving spouses) will receive $1,000 in the form of a New Mexico tax rebate check.
Claiming the Rebate
The distribution of rebate checks began in June, with direct deposits initiated in mid-June. Most eligible residents should have already received their rebate. If you meet the eligibility criteria but have not received your rebate, it is likely due to your failure to file a PIT return. However, you can still claim the rebate by filing your PIT return by May 31, 2024.
Steps to Follow for Claiming the Rebate
To claim the rebate, file your PIT return by May 31, 2024. Once you have filed your return, there is no need to take any additional action to secure your rebate. If you received your 2021 refund via direct deposit, your rebate will also be delivered through direct deposit. If you are set to receive a physical check, it will be mailed to you.
If you have recently changed your address and anticipate receiving a physical check, remember to update your address promptly. This can be done by accessing your Taxpayer Access Point (TAP) account or submitting Form RPD-41260, the Personal Income Tax Change of Address Form, to the Taxation and Revenue Department.
Important Note
If your banking information has changed since completing your 2021 Personal Income Tax return, there is no provision to update this information. As a result, you will receive a paper check in the mail. It is worth noting that rebate funds may only be applied towards any outstanding state taxes for the 2021 tax year.
For further details regarding the New Mexico tax rebate check, please visit the Taxation and Revenue Department’s website.
