Frequently Asked Questions
If I have an automatic extension of time to file with the IRS, do I need to file an extension with New Mexico?
No, New Mexico honors your federal automatic extension of time to file. You do not need to request a separate state extension if you already have a federal automatic extension. If you need more time than that granted at the federal level, you must file a New Mexico...
When is my Fiduciary return due?
For fiduciaries that file on a calendar-year basis, the New Mexico FID-1, New Mexico Fiduciary Income Tax Return is due on or before April 15 with the payment of taxes due.
Do you accept electronic fund transfers for fiduciary returns?
No. Please enclose your check or money order with Form FID-PV, with your return.
If I am a grantor trust, do I need to file a fiduciary return?
Generally, grantor trusts are not required to file Form FID-1, New MexicoFiduciary Income Tax Return . However, if a grantor trust has become irrevocable upon the grantor's death, the grantor trust must file a FID-1. If the grantor trust, including a living trust,...
What is tax fraud?
Fraud is a deception deliberately practiced for unfair or unlawful gain. As it relates to taxes, it is simply “cheating” by intentionally paying less tax than is legally due. The main difference between an honest mistake and tax fraud is the element of criminal...
How does tax fraud affect me?
Since dishonest people are not paying their fair share, there is no “level playing field” for businesses or consumers. This can sometimes lead to higher prices, possible tax increases, and inadequately funded school systems, government infrastructure and other...
Which programs are affected by tax fraud?
The New Mexico Taxation and Revenue Department (TRD) administers several tax programs, all of which may be affected. These include: Personal Income Tax Gross Receipts Tax, also known as CRS (Combined Reporting System) Corporate Income Tax Oil and Gas Tax Cigarette...
Who reports tax fraud?
The taxpaying public, private industry and other government agencies including federal, state and local law enforcement are some of the eyes and ears that report suspected tax fraud to the Tax Fraud Investigations Division (TFID).
May I remain anonymous if I call to report someone for tax fraud?
Yes, you may remain anonymous; you do not have to provide your name, phone number or any identifying information.
How do I report someone whom I believe is committing tax fraud?
There are three ways to report tax fraud: Call the 24-Hour New Mexico Tax Fraud Hot Line: 1-866-457-6789.Send an e-mail to tax.fraud@tax.nm.govDownload the Fraud Information Report Form mail or fax it to:New Mexico Taxation and Revenue DepartmentTax Fraud...