New Mexico Residents Will Receive Stimulus Checks From August 1 – State officials last week confirmed that New Mexico taxpayers will begin receiving tax rebate stimulus checks from August 1. The stimulus checks, which are distributed as traditional checks and direct bank transfers, are part of a statewide tax rebate scheme designed to provide relief from skyrocketing inflation.
1.1 million New Mexicans are eligible to receive as much as $1,500 in stimulus check tax rebates and direct aid under the scheme, which Democratic Governor Michelle Lujan Grisham pitched as a way of helping residents cope with the rising cost of food and household items.
“This summer we’ll be returning hundreds of millions of dollars in relief to families around New Mexico, protecting their paychecks and helping them cope with the rising prices of gas, groceries and other household expenses,” Lujan Grisham said in a statement.
Stimulus Checks: What Do The Measures Include?
Under the scheme, residents will be entitled to a refundable income tax rebate of $500 if they are married and file joint tax returns and earn under $150,000. Heads of households and surviving spouses earning the exact amount will also be eligible for $500 checks.
Single tax return filers and married individuals who file separately and earn under $75,000 will qualify for a tax rebate of $250.
According to the state website, an additional refundable income tax rebate for all taxpayers worth $500 will be made available for single filers, and $1,000 for joint filers. The rebates will also be sent automatically to taxpayers who file a 2021 PIT return. The final rebate from the state carries no income requirements, meaning it will be available to all legal residents of New Mexico.
Further relief payments have also been made available by the state.
“Relief payments for New Mexicans who do not file income tax returns of $1,000 for households of married couples or single individuals with one or more dependents, and $500 for households of single individuals without dependents,” New Mexico’s government website states.
Stimulus Checks: How to Qualify
Residents who filed a 2021 tax return don’t need to do anything else to receive the payments. Simply filing the tax return means that the state has all the information they need to begin distributing the payments to those who qualify for them.
Filers choose when submitting their tax returns whether to receive refunds by check or direct deposit, and this decision will determine how they receive the payment.
For those who did not file a 2021 tax return, however, it is still possible to receive the rebate through the Human Services Department. The deadline to file a 2021 tax return is May 2023, meaning there is still just under a year left for residents to get their paperwork in order.
Related Stories:
State-Specific Stimulus: Checks Arrive for Residents in One U.S. State
2022 Stimulus Checks: Is Your State Giving Out Money This Year? #stimulus
Stimulus Checks, Rebates, Other Payments to Hit Bank Accounts Next Month
2022 Stimulus Checks: Is Your State Giving Out Money This Year?
Identify Any Tax Rebates Or Stimulus Checks Your State Still Owes You
Which American state spent the most on stimulus checks?
Is Your State Giving Out Inflation Stimulus Checks in 2022?
Stimulus payment 2022: Direct $200 tax refund checks hitting bank accounts for millions now
Leave a Reply