New Mexico residents are set to receive much-needed financial relief in the form of stimulus payments ranging from $500 to $1,000. This rebate program, approved by Governor Michelle Lujan Grisham, is part of the state’s effort to help families combat rising costs using its fiscal year surplus. These payments are designed to give back to the people of New Mexico, particularly during a time when inflation is hitting households hard.
Eligibility for the $500-$1,000 Stimulus Payment
To qualify for the direct deposit or mailed check rebate:
- Filing Status:
- Single filers or those married filing separately will receive $500.
- Married couples filing jointly, heads of households, and qualifying widows or widowers will receive $1,000.
- Tax Return Requirement: Residents must have filed a 2021 New Mexico Personal Income Tax (PIT) return to qualify. If you have not yet filed, you can still do so by May 31, 2024 to receive the rebate.
- Non-filers: If you were not required to file a tax return in 2021 due to income thresholds or non-taxable income like Social Security, you may still qualify for a relief payment, but you will need to apply separately. The application for this relief can be submitted via the New Mexico Human Services Department.
- Residency: Only New Mexico residents are eligible, and those declared as dependents on another taxpayer’s return are excluded.
Payment Distribution
Payments began in June 2023, with many direct deposits hitting bank accounts around mid-June. Eligible taxpayers who provided direct deposit information with their 2021 PIT return received the payment via direct deposit. For those who didn’t provide this information, checks were mailed.
Residents who have yet to file their 2021 tax return should file by May 31, 2024, to ensure they receive the rebate. After filing, payments will either be directly deposited or mailed, depending on the tax filing details provided.
Overview of New Mexico $500-$1,000 Stimulus Payment
| Category | Details |
|---|---|
| Payment Amount | $500 (Single Filers), $1,000 (Joint Filers, HoH, Widows/Widowers) |
| Eligibility | Filed 2021 NM Personal Income Tax Return, New Mexico Resident |
| Application Deadline | May 31, 2024 (for 2021 tax return) |
| Payment Method | Direct Deposit or Mailed Check |
| Payment Start Date | June 2023 |
How to Ensure You Receive the Payment
- Update Your Information: If your bank account or address has changed since you filed your 2021 tax return, it’s important to update this information through the New Mexico Taxpayer Access Point (TAP) to avoid delays in receiving your payment.
- File Your 2021 Tax Return: If you haven’t yet filed your 2021 tax return, you still have time to submit it by May 31, 2024, to claim your rebate.
FAQs
Residents who filed a 2021 New Mexico Personal Income Tax return and were not listed as dependents on someone else’s return qualify. Single filers get $500, and joint filers, heads of households, and widows/widowers get $1,000.
Payments started in June 2023. Direct deposits were prioritized, and checks followed soon after. If you file your 2021 return after this period, expect your payment by direct deposit or check after processing.
No, eligible residents do not need to apply. As long as you filed your 2021 tax return, the payment is sent automatically.
If you didn’t need to file a tax return, you might still qualify for a relief payment. You must apply separately through the New Mexico Human Services Department.
Update your information via the New Mexico Taxpayer Access Point (TAP) to ensure you receive your payment promptly.
These stimulus payments provide crucial financial relief to New Mexico residents, helping them cope with rising living expenses. Make sure to file your 2021 return by May 31, 2024, to benefit from this program if you haven’t already!
