The U.S. Treasury Department estimates that 507,000 New Mexicans will get a tax refund this Summer, totaling $212 million.
Congresswoman Heather Wilson voted last month for historic tax relief that will let you keep more of your money. And, you may be eligible for a tax refund payment this Summer. The U.S. Treasury Department will soon send out checks.
WILL YOU GET SOME CASH?
Single taxpayers will receive a $300 refund check, heads of households will receive $500 and married couples will get $600 of their money back.
A Heritage Foundation study dated May 11, 2001 found that more than 200,000 New Mexico children and their families, about 66,000 of them in Heather`s district, will benefit from an increase in the child tax credit. More than 140,000 married couples will be freed from the so-called marriage penalty that costs couples an average of $1,400 a year. Close to 52,000 of those couples live in New Mexico’s first congressional district.
The first checks will be sent out the week of July 23rd, with most payments completed by the last week of September.
WANT TO KNOW WHEN YOU GET YOUR CHECK?
| | Enter the last two digits of your Social Security number and press "Go". | | | Privacy note - This form does not collect or store any personal information. The information you provide is only used to calculate when you will receive your check. |
|
HOW MUCH MONEY WILL I GET?
| IF your filing status on your 2000 return is… | AND the taxable income on your 2000 return is*… | THEN your advance refund will be as shown below, UNLESS the tax liability on your 2000 return is less than the amount on the table**… | | Single or Married filing Separately | less than $6,000_____________
$6,000 or more | 5% (.05) of your taxable income
______________
$300 | | Head of household | less than $10,000 ______________
$10,000 or more | 5% (.05) of your taxable income
______________
$500 | | Married filing jointly or Qualifying widow(er) | less than $12,000 ______________
$12,000 or more | 5% (.05) of your taxable income
______________
$600 |
* Taxable income is the amount shown on the 2000 Form 1040, line 39; Form 1040A, line 25; Form 1040EZ, line 6; or on the TeleFile Tax Record, line K. ** If you filed Form 1040 or Form 1040A, your advance credit payment is limited to your tax liability which is the amount shown on your 2000 Form 1040, line 51, or Form 1040A, line 33. ***The amount of your advance refund may be reduced by past due debts you owe for federal or state taxes or other federal debts. |