New Mexico Tax: New Mexico tax amnesty program off to big start
One month into the tax amnesty program, and with three months to go, over 2,000 people have already looked into using New Mexico tax amnesty program, reported the Associated Press yesterday. The program was approved by the state Legislature this year, as a way to spur people to self-report and pay back taxes without having to pay penalties or interest. State officials have projected that ultimately the program will bring in about $7 million.
Billed as a "limited time offer," the agency is promoting the program as an antidote to a common ailment.
"Only New Mexico Tax Relief can give you freedom from the countless symptoms caused by unreported or under-reported state taxes," the website states.
Once a taxpayer has applied for the program, the agency does an investigation and let's them know how much they owe, as if they were paying before the original deadline. The taxpayer then has 180 days to pay the tax.
