New Mexico Taxation & Revenue recently published a bulletin describing withholding tax relief due to the COVID-19 pandemic. For withholding taxes due to be reported and paid between March 25, 2020 and July 25, 2020, taxpayers may report or pay without penalty no later than July 25, 2020. This includes those withholding payments and reports submitted using the combined reporting system (CRS).
Please note that Taxation & Revenue does not have the authority to waive interest on payments due, so payments made after their due date but within the deferment period will continue to accrue interest until paid.
To review this bulletin in its entirety, please click here to download the PDF.
