The new mexico taxation and revenue department is urging eligible families to act fast: over $14.3 million in child tax credits remain unclaimed by roughly 31,000 New Mexico taxpayers for the 2023 and 2024 tax years. To address this, the Department has started a direct mailing campaign to notify individuals who may still qualify for refunds.
Reclaim Your Child Tax Credit
Recent figures show that in 2023, more than 247,000 taxpayers claimed $134.9 million in child tax credits. For 2024 so far, nearly 240,000 taxpayers have claimed about $131.9 million. Despite these numbers, thousands of families are still missing out.
The Department is now sending letters titled “Notice of Potential Tax Refund Available” to residents who appear eligible for at least $100 in refunds.
Eligibility criteria include:
- Being a New Mexico resident
- Having qualifying children (not dependents)
- Adjusted gross income under $350,000
- Families earning $25,000 or less may receive up to $600 per child
Residents can file or amend returns online using the secure Taxpayer Access Point, ensuring they can easily access their benefits.
Other Key Updates from the Department
The new mexico taxation and revenue department has also released several important updates that directly affect taxpayers this year:
- Back-to-School Tax-Free Holiday: Scheduled for July 26–27, 2025, allowing families to save money on essential back-to-school purchases.
- Filing Extensions for Flood-Affected Counties: Residents of Lincoln and Doña Ana counties impacted by flooding were granted extra time to file certain returns.
- Delinquent Property Tax Auctions: Summer auctions are scheduled, offering a way for counties to collect overdue property taxes.
Quick Overview
| Issue | Details |
|---|---|
| Unclaimed Child Tax Credits | $14.3M, ~31,000 taxpayers due refunds for 2023–2024 |
| Tax-Free Holiday | July 26–27, 2025 |
| Filing Extensions | Granted to flood-affected taxpayers in Lincoln & Doña Ana counties |
| Property Tax Auctions | Scheduled this summer to recover unpaid property taxes |
What Taxpayers Should Do
- Check your mailbox for a “Notice of Potential Tax Refund Available.”
- Use the Taxpayer Access Point (TAP) to file or amend returns quickly and securely.
- Mark your calendar for the back-to-school tax holiday in July.
- Stay alert if you have delinquent property taxes, as auctions are upcoming.
By taking these steps, taxpayers can ensure they receive all eligible benefits and avoid missing critical deadlines.
Final Thought
The new mexico taxation and revenue department is focused on helping residents secure the financial support available to them, from child tax credits to disaster relief extensions. With millions still unclaimed, now is the time to act and ensure no family misses out.
Have you received a notice, or do you have questions about your eligibility? Share your thoughts below—we’d love to hear how this impacts you.