If enrolled by December 31st, taxpayers can disclose tax due without paying penalty or interest.

The New Mexico Taxation and Revenue Department (TRD) has announced that if you are a small business or an individual with unreported or underreported taxes, you may qualify to have the penalties and interest forgiven if you finalize enrollment in the program by December 31st and pay within 180 days.

The New Mexico Fresh Start program will benefit taxpayers because TRD will waive the penalty and the interest if the liabilities are paid within 180 days. If taxpayers do not pay their assessment within the 180 day period, they will be assessed interest for the remaining tax due.

The Department will use the following criteria, as a guideline, to determine program eligibility:

  • the taxpayer demonstrates a willingness and ability to comply with New Mexico’s tax laws;
  • the taxpayer demonstrates a system of internal controls and business records that are acceptable to the Department (for most taxpayers, this may be income identified on the federal return);
  • the taxpayer’s resources are available to conduct the income disclosure;
  • the taxpayer has not been the subject of a criminal tax investigation;
  • the taxpayer is not already in a legal dispute with the Department over the taxability of the transactions that would be included in the program;
  • the taxpayer’s included periods are not currently under audit or already assessed;

Click here to apply for the New Mexico Fresh Start Program

Applications can be returned to: 
Taxation & Revenue Department
P.O. Box 8485
Albuquerque, NM 87198-8485
Attn:  Fresh Start Program 6th Floor
Fax: (505) 383-0199

If you have questions about this program or your eligibility, please call the Department at (505) 841-6216.

For more information click here

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