(AUDIO) KSWV interview with Kris Winterowd May 11, 2022
Submitted by The State of New Mexico
Applications for economic relief payments for non-filers open May 2
State to deliver millions in rebates, economic aid this summer
SANTA FE – The New Mexico Taxation & Revenue Department and Human Services Department are partnering to deliver income tax rebates and economic relief payments signed into law by Gov. Michelle Lujan Grisham earlier this month. Applications for non-filers to receive the relief payment open on Monday, May 2.
“We’re delivering hundreds of millions of dollars in relief to New Mexico families,” said Gov. Lujan Grisham. “As costs for gas, groceries and household expenses have risen across the country, we are taking immediate action to protect the paychecks of New Mexicans in every corner of our state.”
During the 2022 Special Legislative Session, in addition to the millions of dollars in rebates allocated to taxpayers, tens of millions in funding was appropriated for financial relief for New Mexicans who do not file taxes, such as low-income seniors and some individuals with disabilities. New Mexicans who do not file income tax returns are eligible to apply for an economic relief payment.
Households of married couples or single individuals with one or more dependents can receive economic relief payments of $1,000, and households of single individuals without dependents can receive $500. The Legislature allocated a total of $20 million for economic relief payments to non-filers, and these funds will be available to applicants on a first-come, first-served basis.
“We all know how difficult it can be to stretch a paycheck in times like these, so we’re working to get this money back into taxpayers’ hands as quickly as possible,” said Stephanie Schardin Clarke, secretary of the New Mexico Taxation and Revenue Department.
Because funding for the economic relief payments is limited, the Taxation and Revenue Department and Human Services Department strongly encourage all New Mexicans to file state income taxes, even if they are exempt from doing so because they have little to no income. Not only do tax filers automatically receive a rebate, they may also be eligible for additional tax benefits.
“Many low-income New Mexicans will receive a greater benefit if they file a tax return,” said David R. Scrase, M.D. cabinet secretary for the New Mexico Human Services Department. “For those who do not, please file an application with us to receive economic relief.”
Individuals who do not file income tax returns will be able to apply for an economic relief payment starting at 8 a.m. Monday, May 2, 2022. Applications must be submitted online through HSD’s YES-NM website at www.yes.state.nm.us. The deadline to apply for a relief payment is 5 p.m. on May 31, 2022. However, applications may be closed before May 31 if available funds run out. Economic relief payments will be issued by July 31, 2022.
If non-filer funding does run out, a non-filer will still have the option of filing a New Mexico Personal Income Tax return to obtain a rebate as late as May 31, 2023.
Please visit https://www.tax.newmexico.gov/rebates-and-economic-relief-payments/ for more information.