As early as next week, the second round of tax refunds will begin to arrive in bank accounts. As part of the state’s effort to lessen the effects of rising U.S. prices, residents of New Mexico will begin getting their most recent batch of tax rebate stimulus checks as early as next week. According to the New Mexico Taxation and Revenue Department, this year’s round of refunds and economic help was approved by the state’s Legislature and Governor Michelle Lujan Grisham.
Are You Eligible For The New Stimulus Check?
The 2022 regular legislative session saw the passage of House Bill 163, which would provide many New Mexicans with tax refunds. The refund payments will start to arrive the next week for those who filed their taxes and selected direct deposit. Checks that were requested to be mailed might be anticipated to arrive throughout the month.
There are income restrictions on this current batch of payments that are due in July. To be eligible for a $250 refund payment, single filers must have had a revenue of $75,000 or even less on their 2021 tax return. To be eligible for a $500 refund payment, married couples filing together must have earned less than $150,000 in income on their 2021 tax return.
The processing and mailing of paper checks will also start the following week, according to the New Mexico Taxation and Revenue Department. The department advises you to be patient in obtaining your reimbursement because they have a limited capacity for the number of stimulus checks they can produce each day. The entire procedure can take a month to finish. Payments will start to be handled for non-filers who requested rebates through the Human Services Department in July as well.
This check-writing spree comes after a June batch of stimulus checks. In August, a last batch of payments is expected to be made.