The state’s Taxation and Revenue Department has announced that single filers will receive $500 rebate checks, while couples filing jointly will receive $1000 rebate checks.
Tax rebate checks approved during the 2023 legislative session are set to be disbursed on June 16, 2023
Eligibility for the rebates is automatic for all New Mexico residents who filed a 2021 state income tax return and were not claimed as dependents. Residents who filed their 2021 tax return and received a refund via direct deposit can expect the rebate to be directly deposited into the same bank account listed on their tax return. Other eligible recipients will receive their rebate in the form of a check.
Individuals who have changed their banking information since filing their tax return will receive the rebate by mail. Similarly, those who have moved to a different address can update their address by submitting a form to the Taxation and Revenue Department or through the department’s website.
The department emphasizes the importance of updating addresses, especially for individuals receiving a paper check
Direct deposits will be processed first, with funds appearing in bank accounts starting on June 16. Paper checks are expected to be issued later in June. To be eligible for the tax rebate checks, New Mexico residents must file their 2021 tax return by May 31, 2024. However, residents who are not required to file income taxes due to their income levels will have the option to apply for the rebate, and applications will be processed on a first-come, first-served basis. The New Mexico Human Services Department will announce the opening of the application process.
It is important to note that approximately 15,000 rebate checks were returned as undeliverable last year. Residents who did not receive their last rebate check are urged to ensure that their address on file with the Taxation and Revenue Department is correct. Undeliverable checks will be transferred to the department’s Unclaimed Property Division after 13 months, and the same will apply to unclaimed 2022 checks in the near future.