SANTA FE, N.M. (KRQE) – There’s less than a month left to file income tax returns in New Mexico. The deadline to file state income taxes is April 18, 2023.
This year, New Mexico taxpayers have two new exemptions available this year. That includes a new Social Security exemption available for those with adjusted gross incomes under $100,000 (for single filers).
For married couples filing jointly, heads of households, and surviving spouses, the state’s new Social Security exemption is available for those with adjusted gross incomes under $150,000, according to the Taxation and Revenue Department.
There’s also a new exemption for military pension incomes. And full-time hospital nurses can also receive a refundable tax credit this year
Once you file your tax returns, it can take up to 12 weeks to process, according to the Taxation and Revenue Department. The fastest way to get returns processed is via electronic filing.
Paper returns generally take longer to process than electronic returns. Instructions and forms are available online at tax.newmexico.gov. Forms are also available in many libraries throughout the state.
Low-income individuals can get help filing taxes from AARP or from Tax Help New Mexico (505-224-5997). Some senior centers also offer tax help.
If you’ve already sent in your return, you can check on the status at the Taxpayer Access Point. The Taxation and Revenue Department says that if the account notes your return is “pending,” it means they’re processing the return and you should not send a duplicate.