New Mexico residents will still be eligible for a refund when they file their 2021 income tax return in May 2023.
New Mexico Stimulus Update
New Mexico may still be eligible to receive stimulus payments from the State of NM worth up to $750 for individuals and $1500 for families in 2022. Two pieces of legislation were signed to pass in 2022 that include either “rebates” or “relief payments” for New Mexicans, according to New Mexico LegalAid. To receive the rebate payments, you need to process your 2021 New Mexico income taxes.
The Rebates And Relief Payment
A single individual who qualifies will get $250 in rebate payments in June, $250 in August, and based on income, $250 in July. These rebates qualify families or heads of households in June, $500 in August, and again depending on income, $500 in July. Depending on when you submit your New Mexico income tax returns, the dates you receive the payments could change.
The deadline to apply for the $500 ($1000 for families) in relief funds was May 31, 2022. On July 4, 2022, if your application for relief payment was approved then you will need to claim it. However, if the payment to your New Mexico income taxes you can still be eligible for the (NM PIT-1). Additionally, before May 31, 2023, you can still file and claim the rebates by submitting your 2022 New Mexico tax returns at any time prior deadline.
Related Article: $ 750 Tax Rebates Will Be Sent To Residents In New Mexico