New Mexico Begins Accepting Electronic Tax Returns on January 16

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AI Summary
Starting January 16, the New Mexico Taxation and Revenue Department will open its electronic filing system for state tax returns. This includes various types of returns such as Personal Income Tax, Corporate Income and Franchise Tax, and more. Taxpayers are encouraged to file early using the Taxpayer Access Point (TAP) to ensure faster processing and refunds, while also reducing the risk of identity theft through fraudulent filings. The federal tax season will commence shortly after, on January 26, making it crucial for residents to prepare their state returns in advance.
Key Details: • Electronic tax returns can be filed starting January 16, 2024. • Types of returns accepted include Personal Income Tax and Corporate Income Tax. • Taxpayers should use the Taxpayer Access Point (TAP) for filing. • Filing early can lead to faster refunds and less risk of fraud.