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How can I file a New Mexico extension?

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Question
How can I file a New Mexico extension?

Answer

New Mexico recognizes and accepts an Internal Revenue Service automatic extension of time to file. If you have obtained the federal six-month automatic extension by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, you have six months (through October 15th) to file your New Mexico return. Beyond the six months, you are required to obtain an additional extension through the IRS or the state.

If you expect to file your federal return by the original due date or by the six month automatic extension of time to file allowed by the IRS, but need additional time to file your New Mexico return, ask for an extension of time by filing New Mexico Form RPD-41096, Extension of Time to File. File Form RPD-41096 on or before the April 15 due date. You do not need to attach an approved state extension to your return.

Special instructions and backup are required if you are granted a federal extension or state extension for military personnel deployed in a combat zone. See Publication FYI-311, Military Extensions for New Mexico Personal Income Tax, for details. Mark in red at the top of the return the type of extension for which you qualify. Mark the extension checkbox on line 3 of Form PIT-1 and enter the date the extension expires. The state extension requires you to attach Form DD 214.

If you qualify for a special federal extension, you should refer to the Department web page to determine whether New Mexico offers a similar extension and how you may take the extension.

To make an extension payment by mail or delivery, you will need to complete Form PIT-EXT, Extension Payment Voucher.

An extension of time to file your return does NOT extend the time to pay. If tax is due, interest continues to accrue. Therefore, if you expect to owe more tax when you file your return, the best policy is to make a payment using Form PIT-EXT payment voucher and avoid the accrual of interest on that amount.

Please make sure you put the correct tax year on both the PIT-EXT Personal Income Tax Extension Payment Voucher and your check or money order. This minimizes the chance that your payment will be credited to the incorrect tax period. Report the amount of any payment(s) made towards the tax due when an extension has been filed, on line 25 of Form PIT-1 when the return is actually filed.


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Article Details
Views: 232 Created on: Jun 15, 2013
Date updated: Aug 31, 2015
Posted in: STATES, New Mexico

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