Tips for Tax Season

Dear Friend,

With the 2023 tax filing season underway, I wanted to provide some helpful information and answer some common questions. Filing taxes can be daunting, but I hope these resources will help make the process a little more manageable.

Frequently Asked Questions

How can I get my return as soon as possible?

The IRS recommends filing electronically as early as you are able and to opt for direct deposit if you are receiving a refund. This helps avoid processing delays.

Do I qualify for the Earned Income Tax Credit (EITC)?

Many moderate- and low-income New Mexicans qualify for the Earned Income Tax Credit, which reduces the amount of taxes you owe. This tool on the IRS website can help you find out if you qualify. You can learn more about other credits and deductions that you might be eligible for by visiting the Credits and Deductions page on the IRS website. Note that many of these credits, including the Child and Dependent Care Credit, are returning to 2019 levels. So you may receive a smaller refund than the last tax year.

Do I qualify for the Premium Tax Credit?

Taxpayers may still qualify this year for the temporarily expanded eligibility for the Premium Tax Credit, which is a refundable credit that helps individuals and families cover the premiums for their health insurance purchases in the Affordable Care Act’s Health Insurance Marketplace.

I purchased an electric vehicle or installed rooftop solar on my home. Can I receive any rebates or tax credits to help me cover the costs?

Yes, you may qualify for new rebates and tax credits from the Inflation Reduction Act, the landmark law that Democrats in Congress passed last year to lower health care and energy costs for families and accelerate our development and adoption of clean energy technologies. New tax credits and rebates will make it easier to purchase an electric vehicle, weatherize and electrify your home, install solar panels, and more.

You can see which new tax opportunities and savings you might qualify for using this Inflation Reduction Act Savings Calculator from the nonprofit organization Rewiring America.

Additional Tax Filing Resources

In-person:

Make a free in-person appointment with the following organizations.

• AARP Foundation Tax Aide. Call 888-227-7669 or visit info/TaxAideLocator to schedule.
• Tax Help New Mexico. Call 505-750-3885 or visit TaxHelpNM.org to schedule.
• UNM Center for Financial Capability. Schedule an appointment by visiting: https://cfc.unm.edu/services/tax-help.html.
• United Way of New Mexico. Schedule an appointment by visiting: https://www.cnm.edu/depts/taxhelp.
• Lutheran Family Services. Refugees can call 505-933-7032 for help filing taxes.

Online or Phone:

Visit www.GetYourRefund.org - If your income is $66,000 or less, you can use this resource to get connected to IRS volunteers around the country to have your tax returns (2019-2022) prepared online or over the phone.

Online:

• Visit MyFreeTaxes.com - If your income is $73,000 or less, you can use this to prepare your own returns with help from IRS certified volunteers if you need help. If your income $60,000 or below, there is even more help available.
• Visit irs.gov/filing/free-file-do-your-federal-taxes-for-free. -- To find other free tax preparation sites near you, you can visit irs.treasury.gov/freetaxprep. The IRS’s Interactive Tax Assistant can answer more of your questions, helping you find out how much your standard deduction is, determine whether or not you can claim dependents, discover what tax credits you may qualify for, and more.
• For State of New Mexico tax issues, you can contact the New Mexico Taxpayer Advocate by visiting https://www.tax.newmexico.gov/businesses/businesses/taxpayer-advocate/.

Enrolled Agents: If you are unable to find a free tax preparer, you can also consider hiring an Enrolled Agent by calling the New Mexico Society of Enrolled Agents (NMSEA) at 505-877-1598, or by visiting https://nmsea.net/or https://taxexperts.naea.org.

The Constituent Service Representatives in my office can also help New Mexicans contact the IRS and navigate difficulties with Medicare, Social Security, immigration issues, Veterans benefits, passport issues, and other federal programs. Whether you or a family member is having trouble with a federal agency, please don’t hesitate to contact my office by calling (505) 346-6601 or by visiting the Helping You section on my website.