People living in New Mexico can expect to see up to $500 in their bank accounts before the week is over.
The economic relief checks from the state’s August rebate program will be available to people who either filed taxes in 2021 or applied to take part in the program. Single filers can expect to receive $250 from the state, while joint filers will receive $500 from the state, regardless of a filer’s level of income, according to KRQE.
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The payments will be given to about 825,000 people through direct deposits to their bank accounts or paper checks in the mail. Over $300 million will be delivered to taxpayers with this payment, according to the New Mexico Tax and Revenue Department.
The money sent out in August marks the third time this summer New Mexico has sent payments to state residents, with the first payment in May and June and the second one in July. The rebate program was approved in April when lawmakers and Democratic Gov. Michelle Lujan Grisham passed a bill authorizing direct cash payments to tax filers and nonfilers statewide to target high fuel costs and the rising costs of goods and services.
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Only people who either filed taxes in 2021 or applied to take part in the rebate program before June 10 will receive the August payment. However, nonfilers who missed the deadline for applying for the program can still file a 2021 personal income tax return to qualify for the summer rebates that went out this summer. They will have until May 31, 2023, to file the return, according to the state.
