$500 rebates to go out in mid-June

The State of New Mexico will begin sending out the newest round of rebates in mid-June, “putting more than $673 million back into the pockets of New Mexicans,” Gov. Michelle Lujan Grisham said in a news release.

The state Taxation and Revenue Department (TRD) will send rebates of $500 to single filers and $1,000 to married taxpayers filing jointly, heads of household and surviving spouses, the governor said. Any New Mexico resident who filed a 2021 New Mexico personal income tax return (PIT) and who was not declared as a dependent on another taxpayer’s return will receive the rebates automatically. There is no application to receive the rebates, the news release said.

“Prices for basic necessities continue to be high across the nation,” Lujan Grisham said. “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.”  

Taxpayers who received a refund by direct deposit on their 2021 return will receive the rebate by direct deposit, the governor’s office said. All others will receive a check in the mail. Direct deposits will be distributed first, and checks will be mailed over the following weeks, beginning in mid-June.

Eligible New Mexico residents have until May 31, 2024 to file a 2021 New Mexico PIT return and still qualify for the rebates.

Taxpayers who have moved to a different address since filing their 2021 return can update their addresses using the taxpayer access point self-service portal or by submitting Form RPD-41260, PIT change of address, to the state Taxation and Revenue Department (TRD) as soon as possible. Taxpayers whose banking information has changed since they submitted their 2021 returns will receive the rebate by mail.

New Mexico residents who are not required to file income taxes because of their income level will have the option of applying for relief payments on a first-come, first-serve basis through the state Human Services Department, the governor’s office said. Applications are not yet available, and a public announcement will be made before the application process opens. Funds are limited to a total of $15 million as appropriated by the legislature. Relief payments to non-filers will be sent in July. However, TRD urges non-filers are urged to consider filing a New Mexico income tax return even if they are not required to, the governor’s office said.