The New Mexico $600 rebate to working, low-income families has not been signed into law yet so final details on how the credit will work have not be finalized.
If it is eventually included as part of the 2020 income tax return, then you can file an amended state return.
I think our governor just signed the law today I'm pretty sure i get it i made 26000 last year i already received my state refund so what can I do if I do amended return will it alow me to claim it
That's exactly what I want to know! Anyone have an answer? Please 🙏
The new bill signed today will not be a refund on 2020 state income taxes. Stimulus checks are normally sent to the eligible tax payers. They do not have to file a state amended return to claim the stimulus. The federal stimulus checks were a refund on 2020 income taxes and if payments were not received in 2020 and early 2021, then taxpayers claimed the payments as part of their 2020 refund.
So your saying I will just get it and I don't have to do anything?
That is correct. If you already filed, New Mexico has your information and you do not need to do anything.
New Mexico is urging everyone to file their New Mexico tax return as soon as possible so that they will know where you are an have your bank information available to deposit stimulus payments. If you have already filed New Mexico, you don't have to do anything. They have your information.
Just wanted to know I was reading this letter on the new Mexico tax and revenue website and I'm confused do I need to claim the new Mexico working family's tax credit to get the 600 dollar rebate if so i don't believe I did so what should I do
From what I've read, you don't need to do anything. If you are eligible, the $600 credit will be sent to you.
“One of the new measures will provide a $600 personal income tax rebate to frontline and low-wage workers.
People who are eligible to receive the $600 income tax rebate just need to fill out their taxes. People who already completed their taxes will also receive their rebate, according to the state.
“To be eligible to receive the $600 rebate, the taxpayer needs to be eligible for and claim the Working Families Tax Credit, which about 200,000 New Mexico tax filers claim each year," said New Mexico Taxation and Revenue Sec. Stephanie Schardin. "And they also need to have income under a certain threshold. It's about $31,200 income for a single filer and I believe it's $39,000 for married, filing jointly or head of household. “
This was signed on tonight so how will I know if I qualify for the credit
Do you get the working families credit? If yes, then check your income and filing status at New Mexico to Issue $600 One-Time Tax Rebates Amid for full details.
I filed my taxes early before the rebate went into effect what do I do now? Do I have to do an amendment?
No, you do not file an amended return. The state will mail you the rebate if you qualify.
Do you get the working families credit? If yes, then check your income and filing status at New Mexico to Issue $600 One-Time Tax Rebates Amid for full details.
Hi! If we already filed our taxes and paid state taxes at a given date and from account then later received New Mexico state rebate with the amount that was already paid taken out, will we be reimbursed for over payment?
I did my taxes and already received my refunds over a month ago, after receiving it is when I found out about the $600 working families credit in which I do qualify for but havent got it yet, I know a few people who did get it automatically to there acct they used for there direct deposit, they did not need to amend. So I shouldnt have to amend neither right?
You don't need to do anything since you already filed your tax return. The $600 rebate is for taxpayers that earned less than $39,000 if married and $31,200 if a single filer. The payment will be sent to you automatically if you qualify.
So I do qualify I guess I just have to be patient...
I just read the bill from the governor it’s a little confusing it says if you have already filed and didn’t claim the rebate that you will have to amend. But it also says if you already filed you don’t have to do anything. Just wondering if you can look into this since it does say to amend.
You don't need to amend your return.
Taxpayers who have already filed their 2020 New Mexico Personal Income Tax returns and are eligible for the $600 rebate do not need to take further action. The $600 rebate will be mailed to them or delivered by direct deposit if they selected that option when they filed their 2020 tax return. Taxation & Revenue New Mexico
If you already filed you do not need to amend, I have a few family members & friends who received it without amending. I did some research on this thw other day because I was a bit confused as to why I had not received mine, and in my case I made less then the amount stated for a single filer BUT I made more then what qualifies a single person for the earned income credit so since I didn't get the EIC I will not get the working families $600. So check your 1040 to see if you got the EIC if you did not then you will not get the $600 which was a big bummer when I finally figured it all out!
No, the NM $600 stimulus was not sent automatically. Google search turns up the instructions, it will issue when you file your 2020 tax return, if you already qualify for the Working Families credit.
If you filed early and don't see that $600 refunded soon, maybe end of May, file an amended return. For ordinary tax refunds, the state of NM is lightning fast. So early filers should not have to wait long for the state to amend their return to credit the $600.