A total of $20 million had been budgeted for relief payments, and it will be given on a first-come, first-serve basis.
As of August 15, 2022, almost 2.4 million rebates were issued to New Mexicans. People who already submitted their 2021 tax returns will get their rebates through direct deposit.
You will be receiving a paper check if your banking information was revised since you filed. New Mexicans currently have until May 31, 2023, to send in their 2021 tax returns to still be qualified for the refund.
ARE YOU ELIGIBLE FOR THE REBATES?
There will be two rebates that New Mexico will be distributing:
- The first rebate permits married couples filing joint returns, heads of household, and surviving spouses with incomes under $150,000 to receive $500. While single filers and married individuals filing separately with an income under $75,000 will get $250.
- The second rebate permits single filers and married individuals to file separately to get a rebate worth $500. While $1,000 is for joint filers, heads of households, and surviving spouses.
These rebates are sent automatically to those who filed their 2021 personal income tax return.
People who didn’t file their 2021 New Mexico Personal Income Tax return and are not claimed as a dependent on another taxpayer’s return can still file until May 31, 2023.
Read Also: 2023 Tax Refund Dates: When You You Except to Claim Your IRS Tax Refund? Check Out These Dates!