{"id":6515,"date":"2007-04-12T11:42:34","date_gmt":"2007-04-12T17:42:34","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=6515"},"modified":"2026-04-11T13:33:33","modified_gmt":"2026-04-11T19:33:33","slug":"margaret-palumbo","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2007\/04\/12\/margaret-palumbo\/","title":{"rendered":"Margaret Palumbo"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_row _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_column _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; type=&#8221;4_4&#8243;][et_pb_text _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<div class=\"blogDateTitleContainer\">\n<div class=\"blogDateTitle\">04\/12\/2007<\/div>\n<\/div>\n<div class=\"blogItem\">\n<p><a href=\"https:\/\/realfile.tax.newmexico.gov\/07-04__margaret_palumbo.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">07-04<\/a><\/p>\n<p>The Taxpayer filed timely 2002 federal and New Mexico personal income tax returns. \u00a0Her federal return was subsequently adjusted by the IRS, resulting in additional tax liability. \u00a0The Taxpayer failed to file an amended New Mexico income tax return within 90 days as required by statute. \u00a0In 2005, the Taxpayer received a notice from the Department concerning additional tax due as a result of an error on her 2001 income tax return. \u00a0The Taxpayer then notified the Department that the same error occurred on her 2002 return and asked for information concerning the forms needed to amend her return, as well as payment options. \u00a0The Department did not reply to these inquiries. \u00a0In January 2006, the Taxpayer filed an amended 2002 return reporting the additional tax due for that year. \u00a0The Department assessed her for penalty and interest on her late payment, and the Taxpayer protested, arguing that penalty and interest should be waived beginning with the date she first notified the Department of her underpayment and asked for assistance in filing an amended return. \u00a0Held: \u00a0The Department\u2019s failure to respond to the Taxpayer did not affect the accrual of penalty, which reached its maximum of ten percent long before the Taxpayer notified the Department of the error on her 2002 return. \u00a0Interest is due because the Taxpayer, rather than the state, had the use of her underreported tax funds during the period at issue. \u00a0Protest denied. \u00a0\u00a0<\/p>\n<\/div>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.6.6&#8243; _module_preset=&#8221;default&#8221;]<\/p>\n<p><a href=\"\/all-nm-taxes\/tax-decisions-orders\/\">Back to Tax Decisions &amp; Orders<\/a><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>04\/12\/2007 07-04 The Taxpayer filed timely 2002 federal and New Mexico personal income tax returns. \u00a0Her federal return was subsequently adjusted by the IRS, resulting in additional tax liability. \u00a0The Taxpayer failed to file an amended New Mexico income tax return within 90 days as required by statute. \u00a0In 2005, the Taxpayer received a notice [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"<!-- wp:divi\/placeholder \/-->","_et_gb_content_width":"960","footnotes":""},"categories":[43],"tags":[],"class_list":["post-6515","post","type-post","status-publish","format-standard","hentry","category-tax-decisions-orders"],"yoast_head":"<!-- This site is optimized with the 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