Tax Preparer'S Guide For Income Tax Returns - 2015 Page 3
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45Introduction
On January 1, 2016, the New Mexico Taxation and Revenue Department (TRD)
begins the 2015 income tax filing season. This guide addresses issues specific to
those who prepare New Mexico income tax returns. The advice in this guide is
intended to help new and returning tax return preparers, Electronic Return
Originators (EROs), and Fed/State transmitters file their clients’ returns in the most
efficient, cost-effective way possible.
What’s New
This section summarizes the latest information about new initiatives, E-Filing
through Fed/State, Taxpayer Access Point (TAP) and recent legislation.
Message From the Secretary
The state of New Mexico is requesting additional information this filing season in an
effort to combat stolen-identity tax fraud and ensure that your hard-earned tax
refund goes to the correct person. The Department will ask that taxpayer’s provide
the requested information from your driver's license or state-issued identification
card. However, if the information is not provided, there could be significant delays
in processing your return.
NEW MEXICO EXPANDS ONLINE FILING OPTIONS TO INCLUDE BUSINESS
INCOME TAXES
New Mexico’s Taxation and Revenue Department (NM TRD) began working with a
limited set of third party tax preparation software developers to develop online
filing for 2014 business income tax returns through the Federal/State filing
program. You may now, file the following 2015 New Mexico business income tax
forms online through third party tax software:
·
Corporate Income and Franchise Tax,
·
Sub-Chapter S Corporate Income and Franchise Tax,
·
Pass-Through Entity Information Report, and
·
Form RPD-41367, Annual Withholding of Net Income from a Pass-
Through Entity Detail Report (PTW).
Processing the electronically filed business income tax returns is proceeding well,
driving improved processing efficiency and reduced return handling time. NM TRD
expects to expand the number of third-party software solutions certified for these
new e-File programs in future tax years, as more and more taxpayers and tax
practitioners enjoy the benefits of online filing.
Online filing for 2015 business income tax returns is not only available through third
party software solutions, but also available on NM TRD’s website, using Taxpayer
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