New Mexico Releases W-2 and 1099 Filing Instructions for 2018

New Mexico has released “Income and Withholding Information Return and Filing Methods 2018,” FYI-330.  This document provides direction to payors filing annual wage and tax information reporting returns to the state.  The document details significant changes to the 1099 and W-2 filing processes. 

New Mexico will now accept 1099 and W-2 returns through its new Taxpayer Access Portal (TAP).  Previously, 1099s could only be electronically filed through the Combined Federal/State Filing Program (CFS).  Now, CFS remains a valid means of filing for all 1099s, but New Mexico’s TAP provides an alternative means of electronic reporting.  

The document also provides specifications for 1099 and W-2 reporting.  New Mexico continues to largely follow the federal specification with minor modifications; these modifications themselves have not changed from the prior year’s.

To review FYI-330, [follow this link|http://www.tax.newmexico.gov/Businesses/forms-publications.aspx], select “publications,” and then “FYIs,” “300 Series,” and then finally “FYI-330.”

Author

Jesse Rooney

Jesse Rooney is a Tax Counsel at Sovos, focusing his research on AEOI, ACA and non-wage withholding reporting. He received his B.A. from Framingham State University and his J.D. from the University of Massachusetts School of Law. He is licensed to practice in Massachusetts.
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