Is a New Mexico Managed Audit amnesty?
Once upon a time in New Mexico there was an amnesty program. New Mexico's Tax Amnesty law expired September 30, 2010, but now there is what amounts to another one with a different name.
Don't despair. here is still an opportunity to avoid penalties & interest if you qualify. It's called a Managed Audit. It is available for:
Returns that not have been filed.
Returns have been filed but need to be amended.
All major taxes administered by the N.M. Taxation & Revenue Dept. such as income tax, gross receipts tax and withholding tax.
No interest if tax paid within 180 days of billing notice.
If the tax is not paid on time, you may be eligible for a payment plan of up to 72 months.