Lawmakers recently approved a bill that includes $500 tax rebate checks from New Mexico. Although most of the information on the rebate was already available, the only missing part was when the authorities would send out the rebate checks. Governor Michelle Lujan Grisham, last week, shared the remaining details, informing that the latest round of rebates would go out in mid-June.
Tax Rebate Checks From New Mexico: When To Expect Them
On Friday, Gov. Grisham announced that the state would start sending the $500 tax rebate checks from New Mexico in mid-June, distributing more than $673 million to eligible taxpayers.
Further, the governor informed that single filers would get $500 in rebate, while married taxpayers filing jointly, heads of household and surviving spouses would get $1,000 in the form of a tax rebate.
“Our state today is in a fantastic financial position, and it’s important to me that New Mexico’s families are sharing in that success,” Gov. Grisham said in a press release.
Most residents aren’t required to fill out any applications to get the rebate. The tax rebate checks from New Mexico will go out automatically to residents who filed their 2021 New Mexico Personal Income Tax return and are not declared as dependents by someone else.
Those who haven’t yet filed their 2021 return have until May 31, 2024 to file a 2021 New Mexico Personal Income Tax return, and in turn, qualify for the rebate.
Direct Deposit Or Paper Check: Who Will Get What?
Taxpayers who received their 2021 refund by direct deposit will get the rebate by direct deposit, while others will get a check in the mail. As expected, direct deposits will be distributed first, while paper checks will be mailed beginning in mid-June.
Thus, it is important that taxpayers expecting a paper check have shared their correct mailing address with the tax authorities. Those who have moved to a new address since filing their 2021 return need to update their address.
Taxpayers can update their address by visiting the Taxpayer Access Point self-service portal, or by submitting Form RPD-41260 (Personal Income Tax Change of Address Form).
It must be noted that taxpayers whose banking information has changed since they submitted their 2021 return, will get the rebate via paper check.
New Mexico residents who are not required to file income taxes because of their income level, could also qualify for the relief payment, but for that, they need to apply separately. Moreover, the relief payment available for non-filers is on a first-come, first-serve basis, and the funds are limited to a total of $15 million.
Applications for non-filers are not yet open. The state Human Services Department will make a public announcement before the application process starts. Relief payments to non-filers will start to go out in July.
The state Taxation and Revenue Department (TRD), however, urges non-filers to “consider filing a New Mexico income tax return.”
This article originally appeared on ValueWalk
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