New Mexico postpones tax deadlines until July 15 - Albuquerque Journal

New Mexico postpones tax deadlines until July 15

Roundhouse. (Eddie Moore/Journal)

Copyright © 2020 Albuquerque Journal

SANTA FE – New Mexicans and their employers will have more time to file and pay their taxes as the state pushes to provide economic relief amid the coronavirus outbreak.

Personal income taxes will now be due July 15, or 90 days later than the typical mid-April deadline, for both state and federal tax returns. The state is also pushing back the corporate tax deadline to July 15.

Employers will have more time to send to the state the taxes they withhold from workers’ paychecks. The amounts for March through June will now be due in late July – a step intended to ease cash-flow problems and help avoid layoffs.

“We understand that this unprecedented public health emergency is placing enormous financial strain on many residents and businesses,” Taxation and Revenue Secretary Stephanie Schardin Clarke said in a written statement. “These tax extensions will allow individuals and businesses in New Mexico to keep more money in their pockets for the next three months and to better weather this storm.”

The state won’t impose penalties on taxpayers who take advantage of the extra time, but state law requires interest to accrue after the original due date. Gov. Michelle Lujan Grisham said she would support waiving or refunding the interest. The state Taxation and Revenue Department, meanwhile, said it would assign extra staff to expedite the processing of refunds for taxpayers who have already filed.

The Trump administration announced Friday that it’s postponing the due date for federal tax returns until July 15.


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

Nativo Sponsored Content

taboola desktop

MORE ARTICLES LIKE THIS

1
COVID hospitalizations most since first of year
ABQnews Seeker
Patients lashing out at health care ... Patients lashing out at health care workers over long wait times
2
Photo of gun in backpack stirs fears at La ...
ABQnews Seeker
Parents, students assail school stance on ... Parents, students assail school stance on matter
3
Operation Holiday Cheer: Send season's greetings to NM veterans
ABQnews Seeker
Let them know we appreciate their ... Let them know we appreciate their service for our country – or for caring for the home's residents
4
ACLU: Inquiry needed into BCSO shooting
ABQnews Seeker
Death of 18-year-old requires independent investigation, ... Death of 18-year-old requires independent investigation, group says
5
NM House advances new map for 70-seat chamber over ...
ABQnews Seeker
Map still has to be approved ... Map still has to be approved by the Senate and the governor in order to take
6
‘Disrespect’ a factor in fatal shooting
ABQnews Seeker
Detectives arrested a man accused of ... Detectives arrested a man accused of fatally shooting another man with not one, but two guns for disrespecting him last weekend at an apartment ...
7
Senator, Governor's Office escalate spending dispute
ABQnews Seeker
Sen. Jacob Candelaria accused of grandstanding ... Sen. Jacob Candelaria accused of grandstanding in court filing
8
APD: Videos show man pummeling infant son
ABQnews Seeker
Seen saying 'die' to 11-month-old child Seen saying 'die' to 11-month-old child
9
PRC rejects merger of utilities
ABQnews Seeker
PRC cites 'demonstrated record' of poor ... PRC cites 'demonstrated record' of poor behavior from companies