{"id":6645,"date":"2006-08-10T12:33:00","date_gmt":"2006-08-10T18:33:00","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=6645"},"modified":"2026-04-11T13:34:18","modified_gmt":"2026-04-11T19:34:18","slug":"v-phillip-and-peggy-j-soice","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2006\/08\/10\/v-phillip-and-peggy-j-soice\/","title":{"rendered":"V. Phillip and Peggy J. Soice"},"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\">08\/10\/2006<\/div>\n<\/div>\n<div class=\"blogItem\">\n<p><a href=\"https:\/\/realfile.tax.newmexico.gov\/06-12__phillip_and_peggy_soice.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">06-12<\/a><\/p>\n<p>The Taxpayers unintentionally filed erroneous federal and state personal income tax returns for tax years 1998-2004. \u00a0The error resulted from a misreading of the W-2 forms their CPA prepared for the Taxpayers\u2019 wholly-owned S corporation. \u00a0In 2005, the Taxpayers discovered the error and filed corrected returns, with payment of the additional tax due. \u00a0After receiving the returns, the Department assessed the Taxpayers for penalty and interest on their late payments. \u00a0The Taxpayers protested the assessments and subsequently filed a claim for refund of the tax principal paid for years that were beyon the three-year limitations period set out in NMSA 1978, \u00a7 7-1-18. \u00a0The refund was denied and the Taxpayers protested. \u00a0Held: \u00a0The limitations period in \u00a7 7-1-26 applies to assessments issued by the Department and not to the Taxpayers\u2019 own self-assessments. \u00a0Because the taxes were due and owing to the state, there is no basis for a refund. \u00a0The Taxpayers\u2019 erroneous reading of their W-2 forms and failure to consult with the CPA who prepared the forms was negligent, and penalty and interest were properly imposed. \u00a0The Taxpayers\u2019 protest is denied. \u00a0 \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>08\/10\/2006 06-12 The Taxpayers unintentionally filed erroneous federal and state personal income tax returns for tax years 1998-2004. \u00a0The error resulted from a misreading of the W-2 forms their CPA prepared for the Taxpayers\u2019 wholly-owned S corporation. \u00a0In 2005, the Taxpayers discovered the error and filed corrected returns, with payment of the additional tax due. [&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":"","_et_gb_content_width":"","footnotes":""},"categories":[43],"tags":[],"class_list":["post-6645","post","type-post","status-publish","format-standard","hentry","category-tax-decisions-orders"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>V. Phillip and Peggy J. 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