Stimulus Check Update: New Mexico Sends $500 Tax Rebates

Stimulus check update: New Mexico gets $500 tax refunds next month – It looks like more and more states are getting back into the “stimulus check” game, and it looks like New Mexico is joining the club. Millions of New Mexico residents are expected to receive tax refund checks of up to $500 as early as next week after lawmakers approve Bill 163.

Governor Michelle Lujan Grisham said in a press release that hundreds of millions of dollars will be returned to New Mexico taxpayers to protect their paychecks and help them “deal with rising prices for gas, groceries, and other household expenses.”

The first round of discounts sent to New Mexicans was published in May and June. Residents of the state received $250 by direct deposit, with no strings attached. In mid-May, lawmakers announced that taxpayers would receive refunds by direct deposit and an additional 200,000 taxpayers would receive paper checks.

New Are you eligible?

This second round of payments comes with income caps, which means not everyone is entitled to the same amount. All single filers must have earned less than $75,000 on their 2021 tax returns to qualify for the $250 rebate. Married couples filing their state taxes jointly and earning less than $150,000 in 2021 will be eligible for a check for $500.

The checks are already in preparation for delivery, with the New Mexico Department of Taxes and Revenue revealing this week that paper checks will be processed and mailed as early as next week. However, since a limited number of checks can be printed and issued each day, taxpayers are advised to be patient and wait for their checks to be delivered during the month of July.

Delivering all checks to every taxpayer, as well as making all direct deposit payments, could take the whole month.

“We can only print about 14,000 checks a day, so it will take all month to mail them out,” spokesperson for the New Mexico Department of Taxes and Revenue. Charlie Moore said. “We are asking people to be patient and not to call to request their refund until we have had the full month [of July] to distribute them.

How to get the refund

You have nothing to do. All eligible taxpayers who have or will file their 2021 income taxes by May 1, 2023 will receive their refunds.

Rebates can be received by direct deposit or check, depending on how you receive your refunds or how you make your payment. As long as you meet the criteria and file your taxes, you will automatically receive the refund.

New Mexico residents who owe back taxes will also be still be eligible to receive the refund, although the funds can be used to offset any liabilities beginning with the 2021 tax year. If the liabilities are less than the money the taxpayer owes, the remaining funds will be issued as normal.

Department of Tax and Revenue spokesman Charlie Moore also said anyone who does not already have direct deposit banking information registered with the state will automatically receive checks.

Jack Buckby is a British author, counter-extremism researcher and journalist based in New York. Reporting from the UK, Europe and the US, it strives to analyze and understand left and right radicalisation, and reports on Western government approaches to pressing issues of today. His books and research papers explore these themes and offer pragmatic solutions to our increasingly polarized society.