New Mexico begins issuing tax rebates

The New Mexico Taxation and Revenue Department said Tuesday that it has begun issuing $600 rebates for certain eligible recipients of the Working Families Tax Credit.

The one-time rebates, authorized by the Legislature earlier this year, are available to taxpayers who aren’t dependents and who receive the Working Families Tax Credit, the agency said in a news release. Recipients must have an adjusted gross income of no more than $39,000 if they’re married and filing as the head of a household, or $31,200 or less if they’re single filers.

This year, New Mexico’s Working Families Credit is worth 17% of the federal Earned Income Tax Credit, according to the release. Qualifications for the state and federal credits are the same.

More than 110,000 rebates worth more than $66 million have been issued.

Taxpayers who have already filed their 2020 tax returns and are eligible for the $600 rebate do not need to take further action.

The $600 rebate will be mailed to them or delivered by direct deposit if they selected that option when they filed their tax returns, the agency said.

The tax department is urging New Mexicans who haven’t filed 2020 tax returns and who believe they’re eligible for the credit to file as soon as possible. Filing electronically and using direct deposit expedites processing and puts refunds and rebates into taxpayers’ hands more quickly, the news release said.

Taxpayers who have already filed their 2020 tax returns without claiming the tax credit but who believe they may qualify will need to file an amended return. Information on filing an amended return is available at www.tax.newmexico.gov.

Share Your Story

Nativo Sponsored Content

taboola desktop

MORE ARTICLES LIKE THIS

1
APD investigating West Side homicide
ABQnews Seeker
Albuquerque police say a man was ... Albuquerque police say a man was shot and killed at the intersection of Central Avenue and 98th Street on Sunday morning. Gilbert Gallegos, an ...
2
Transforming NM's public schools: PED's new chief outlines ...
ABQnews Seeker
PED's new chief outlines lofty goals, ... PED's new chief outlines lofty goals, vows to make this "the year of literacy"
3
Irrigation innovation: Drought challenges water traditions in New Mexico
ABQnews Seeker
Drought tests centuries-old water traditions in ... Drought tests centuries-old water traditions in New Mexico
4
Transforming NM's Public Schools: Kurt Steinhaus rises to education ...
ABQnews Seeker
Challenges include pandemic, reducing the rate ... Challenges include pandemic, reducing the rate of dropouts
5
New Mexico backs Texas in opposing nuclear fuel storage
ABQnews Seeker
Holtec facility seeking approval Holtec facility seeking approval
6
BLM moving back to DC, reversing Trump-era decision
ABQnews Seeker
  WASHINGTON -- Interior Secretary Deb ...   WASHINGTON -- Interior Secretary Deb Haaland is moving the national headquarters of the Bureau of Land Management back to the nation's capital after ...
7
Champion of the ABQ's West Side remembered
ABQnews Seeker
Community leader Dr. Joe Valles advocated ... Community leader Dr. Joe Valles advocated for smart development
8
New state law banned a county's gas stations from ...
ABQnews Seeker
It was a 'no brainer,' one ... It was a 'no brainer,' one owner says.
9
UPDATE: APD says missing 4-year old found safe
ABQnews Seeker
Albuquerque police say they are no ... Albuquerque police say they are no longer looking for Catiana Zepeda, the 4-year-old whose mother was found dead on Friday in an apartment in ...