If your expected refund is $2400 and you only received $70, generally, this means that the refund has been adjusted. Please see:
"There are 3 types of notices the Department may send to you regarding a refund.
The first is a Tax Return Adjustment Notice when a return contains an error and a correction is made. This notice advises of adjustments if there are calculation errors or an incorrect figure such as tax rate. If the adjustment results in an overpayment or an underpayment, either an overpayment notice or an assessment notice follows.
We send a Refund Denial notice when a refund is denied. The notice gives you the reason and includes information on any amount of tax that may be due.
A Notice of Overpayment advises that we have found an overpayment with your tax return or assessment. Complete form RPD-41071, Application for Tax Refund to request a refund. If it appears that the notice is not correct and an overpayment has not been made, or the amount of the overpayment in the notice is not correct, you should follow the instructions on the notice to make the correction."
If you received the $70 and have not received any letter or communication via mail, then the next step would be to contact them directly via phone to speak to an agent:
https://www.tax.newmexico.gov/contact-us/
Before you contact them, have a copy of your New Mexico tax return ready as they may ask you questions about the return to verify your identity prior to discussing the return with you.
