NEW MEXICO (KRQE) – The IRS has made an announcement about rebates and relief payments. They said New Mexicans who received those payments from the state will not have to pay federal taxes on that income.
“This is great news. Now, taxpayers and preparers can move forward with filing their 2022 income tax returns,” said Taxation and Revenue Secretary Stephanie Schardin Clarke.
While the state’s Taxation and Revenue Department had already said that those payments were not subject to state tax, they advised New Mexicans to wait to file their taxes until the IRS made its decision.
Now, the state’s Tax Department is telling New Mexicans to file as early as possible to get potential refunds and to avoid fraud.