Reminders for beginning of tax season in New Mexico

Reminders for beginning of tax season in New Mexico

Get your W2s and other tax forms ready! It's tax season and today is the first day you can file.

ALBUQUERQUE, N.M. – Get your W2s and other tax forms ready! It’s tax season and today is the first day you can file.

There are a few ways you can file this year. If you have a complicated return, you can go to a tax preparer like H&R Block or Jackson Hewitt. 

If you have an easier return, you can always file it yourself online. But there are some things every tax filer needs to know: 

First off, be sure you have all of your documents. You have to input all of the information from those documents before you file.

It’s also good to have all the information for any charitable donations you made, or if you bought an electric vehicle.

April 15 is the deadline to file.

If you need more time, you can ask for an extension, and that will give you until mid-October to file.

The IRS says most taxpayers should receive their refunds within 21 days of filing. That’s if you have the money directly deposited into a bank account. A paper check will take longer.

The special rebates and relief payments issued by the Taxation and Revenue Department in 2023 do not need to be declared as income for New Mexico income tax purposes.

However, the rebates may have federal income tax implications for taxpayers who itemize on their federal returns rather than claiming the standard federal deduction. Those taxpayers who itemize on their federal return should have received a form 1099-G from the Taxation and Revenue Department with the amount of their rebates and any state tax refunds.  

Forms and instructions are available at tax.newmexico.gov in the Income Taxes folder on the Forms & Publications page.