What is the New Mexico amnesty I've heard about?

Once upon a time in New Mexico there was an amnesty program. It's gone, but now there is what amounts to another one. New Mexico's Tax Amnesty law expired September 30, 2010.

 

Don't despair. here is still an opportunity to avoid penalties & interest if you qualify. It's called a Managed Audit.

Eligibility. The main criteria are:

  • Returns that not have been filed.

  • Returns have been filed but need to be amended.

  • All major tax programs administered by the N.M. Taxation & Revenue Dept. including income tax, gross receipts tax and withholding tax.

 

When the audit is completed you must pay in full all taxes due on delinquent tax returns within 180 days of the date of the state's billing notice.

N.M. Taxation & Revenue Department Publication FYI-404 describes managed audits.