Filing taxes might not be your favorite way to spend time, especially when you’d rather be enjoying the beautiful landscapes of New Mexico. Speaking of time, while we can’t tell you the exact clock time in New Mexico right now, we can definitely save you time and hassle when it comes to managing your state income taxes. The New Mexico Taxation and Revenue Department strongly encourages all taxpayers and tax practitioners to embrace the convenience of electronic filing. Discover how e-filing in New Mexico is not only safer and faster but also significantly more convenient, giving you more time back to explore what New Mexico truly offers.
Embrace Electronic Filing for New Mexico Income Taxes
For a streamlined tax season, consider filing your New Mexico income tax returns through the department’s user-friendly Taxpayer Access Point (TAP), utilize IRS Direct File if eligible, or opt for accepted tax software. Choosing to both file and pay your income tax electronically comes with a bonus – an extended filing deadline until April 30th. Should April 30th fall on a weekend or a holiday, rest assured, the deadline extends to the next business day, providing you with a little extra breathing room.
Discover the New Mexico Taxpayer Access Point (TAP)
The Taxpayer Access Point (TAP) website, accessible at https://tap.state.nm.us, serves as your secure online portal for hassle-free tax filing. This free resource allows you to electronically submit your return with ease.
Before you begin your New Mexico TAP return, it’s essential to complete your federal income tax return for filing with the IRS. The information from your federal return will be necessary when filling out your New Mexico state income tax return.
TAP offers a suite of convenient features, including:
- Easy access to information regarding your return, payments, and refunds.
- Secure online payment of existing tax liabilities.
- Real-time checking of your refund status.
- Simple updates to your contact information.
- Business registration capabilities.
Utilizing IRS Direct File for New Mexico Tax Returns
For the 2024 tax year, New Mexico is collaborating with the IRS on the IRS Direct File Program (https://directfile.irs.gov/). This partnership offers eligible taxpayers a direct route to electronically file their federal tax return for free, straight to the IRS. While IRS Direct File doesn’t directly file your state return, it significantly simplifies the process by allowing you to import data from your federal return into New Mexico’s Taxpayer Access Point (TAP). This integration can save you considerable time by eliminating redundant data entry.
To determine if you qualify for Direct File, please review the eligibility criteria available at IRS Direct File | Internal Revenue Service.
IRS Direct File might be an excellent choice if you:
– Are comfortable with electronic filing for both federal and state returns.
– Were a New Mexico resident for the entirety of 2024.
– Earned all of your income within New Mexico during 2024.
– Intend to use the same filing status for both your federal and state returns.
– Plan to claim the standard deduction.
– Meet the specific income type and threshold requirements set by the IRS.
Please note that amended returns cannot be processed through the IRS Direct File Program. However, you can file amended New Mexico personal income tax returns using TAP. IRS Direct File will be available from January 27, 2025, through October 15, 2025.
For a visual guide and further assistance in navigating the New Mexico Taxpayer Access Point (TAP), consider watching this helpful video on our YouTube channel.
Modernized e-File Options for New Mexico Taxes
The Department maintains an updated list of accepted software for all income tax programs, including Personal Income Tax (PIT). This comprehensive list details supported tax software by vendor and product name, specifying all approved income tax programs for each product.
Refer to the accepted software list to confirm if your chosen software is approved for processing individual income tax returns for the current tax year. This list is typically updated and published by the first week of February each tax year, following the vendor validation process.
It is important to note that New Mexico’s approval of tax software is solely for transmission capability and does not constitute an endorsement of the software’s quality or the vendor’s service. Acceptance into the New Mexico program signifies that the software has met the state’s requirements for electronic data transmission in an acceptable format.
Filing a Paper Tax Return: An Alternative Approach
While electronic filing is highly recommended, taxpayers still have the option to file a paper return. However, it’s important to be aware that paper returns are more susceptible to errors, such as calculation mistakes or omissions, and typically take significantly longer to process compared to electronic submissions.
To avoid potential delays and errors, electronic filing is strongly encouraged for a smoother and faster tax process. This not only enhances accuracy but also expedites your refund.
If you lack computer access or prefer in-person assistance, various organizations offer tax preparation services for seniors and low-income taxpayers. A directory of these organizations can be found here.
For more detailed information, please consult the forms and publications section.
Paying Your New Mexico Tax Return Online
You can conveniently pay your tax due online through the TAP website. Payments made via electronic check are free of charge. An electronic check allows the Department to debit your specified checking account for the exact amount on the designated date. Credit card payments are also accepted, although a convenience fee will be applied to cover the fees charged by credit card companies to the State of New Mexico. This fee is calculated as a percentage of your transaction amount.
If you are sending a payment by mail with your paper return, please mail your return, payment, and voucher to:
NM Taxation and Revenue Dept.
P.O. Box 8390
Santa Fe, NM 87504-8390.
By choosing electronic filing and payment options, you save valuable time and contribute to a more efficient tax process in New Mexico, leaving you with more time to enjoy the enchanting beauty of the state.
