The tax refund is an issue that matters a lot to all citizens of the United States. Many of these inhabitants of the country of America wait for this tax refund in order to have a little extra money. This happens during peak spending times, such as Christmas, Thanksgiving and New Year’s Day.
Although most of the tax refunds have already been returned, there are still many to be sent. New Mexicans still have time to send in their 2021 tax returns and get their money back.
However, not all New Mexicans are eligible to receive this tax refund. In order to receive direct checks from the IRS, there are certain financial requirements that must be met. But those are basically the two requirements for eligibility. So if you file your income tax return on time and don’t exceed a threshold you could soon receive one of these checks.
Until when can I file my tax return and receive the refund?
The deadline to file your New Mexico income tax return and receive a refund is May 31, 2023. As for the year of the return, we are talking about the return pertaining to the year 2021. Therefore, we still have plenty of time to be able to declare the money earned and receive a tax refund.
This refund will come through the bank account or Direct Deposit. However, there is a third option, although only in exceptional cases. The money could arrive through a physical check printed to the mailbox at home. This occurs in the case where the user’s bank account has changed since the return was filed.
Who is eligible for this refund?
There are 2 different New Mexico refunds. It is not possible to receive both types of tax refunds. These are the two refunds that will be sent out by the IRS in 2023:
- Married couples filing jointly, head of household or surviving spouse with income less than $150,000 per year – They receive $500.
- Single and married filers with separate tax returns and income less than $75,000 – Receive $250.
Now you know what the conditions are for getting a tax refund in New Mexico. Do you meet them?