Los Alamos Reporter

State Personal Income Tax Forms For 2020 Now Available: Taxpayers Are Encouraged To File Electronically

TAX AND REVENUE DEPARTMENT NEWS

New Mexico Taxation and Revenue Department is encouraging taxpayers to file their 2020 Personal Income Tax returns electronically to expedite processing and any refunds they may be due.

The New Mexico Personal Income Tax forms and instructions for the 2020 tax year are available on the Department’s website.  The forms and instructions can be accessed through this link: http://realfile.tax.newmexico.gov/PITbook2020.pdf or by navigating to the Forms & Publications page at tax.newmexico.gov, opening the Income Tax folder and then the Personal Income Tax – Current Year folder.

Taxpayers are encouraged to file electronically, either through a commercial service or directly on the Department’s website through the Taxpayer Access Point (TAP). Filing electronically minimizes delays in processing and results in faster refunds. In 2020, it took an average of just under seven days to process electronic returns and generate a refund, compared with nearly 18 days on average for paper returns. 

The Department is now accepting returns through TAP and will begin accepting other electronic returns when federal income tax filing opens on Feb. 12.

Paper returns are being accepted, but taxpayers are advised that they will need information from their federal returns to complete their state returns.

Electronic returns are being accepted for Corporate Income Tax and other business-related income tax programs.

The deadline to file Personal Income Tax returns is April 15, 2021.

District tax offices are currently closed to limit the spread of COVID -19. Taxpayers with questions can contact the Department by calling 1-866-285-2996 or by mail at P.O. Box 25122, Santa Fe, NM 87504-5122.

Tax preparation help for low-income New Mexicans is available through the AARP and Tax Help New Mexico, along with some senior citizen centers and social service agencies. More information is available from the AARP and at  TaxHelpNM.org.

Paper forms are available in many libraries throughout the state and may be ordered by calling 1-866-285-2996.