Stimulus Update

New Mexico's $500 Tax Rebate

Why Some Residents Are Ineligible and Others Unexpectedly Qualify?

As New Mexico's $500 tax rebates are coming to bank accounts and mailboxes, it has become evident that some people are not eligible.

Certain residents of New Mexico will not get this economic relief and some even who have left will unexpectedly get this.

This difference is due to a unique condition in the legislation of the rebate distribution. 

It states that those individuals will get this rebate who filed their 2021 personal income tax returns.

So those who are living or related to Mexico since 2022 and even have paid taxes, are not eligible for this rebate 2023.

However, those who filed their 2021 taxes and then moved to another city or state will qualify.

Moreover, the exact number of filers is still unknown.

State Officials clarify that the tax year of 2021 has helped Taxation and Revenue Department in issuing process.

In addition, it has been revealed that they have almost completed the processing of 2021 tax returns.

However, the last date for taxpayers, to submit their returns for the previous is  October.

Moreover, the department has already started mailing checks and some have already witnessed the rebates.

How Much You Will Get from Mexico's Tax Rebate?

If you are a single independent person you will get a $500 rebate. While couples and heads of households will receive $1,000.

Moreover, taxpayers need not apply as it will be distributed automatically.