Tax Preparer'S Guide For Income Tax Returns - 2015 Page 16
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Be signed by the taxpayer
To obtain authorization, the taxpayer must complete Form ACD-31102, Tax
Information Authorization, or provide a similar document that contains the required
elements just listed. If presented with proper authorization from the representative,
the Secretary of TRD or a TRD employee may reveal information about a return to
the authorized person.
If the Secretary or employee has reason to question the continued validity of the
authorization to represent the taxpayer, the Secretary or employee may ask the
taxpayer whether the authorization remains valid.
Refund Anticipation Loans
A Refund Anticipation Loan (RAL) allows a taxpayer to borrow money with an
anticipated income tax refund as security. TRD is not a party to RALs. RALs are
contracts between taxpayers and lenders.
The TRD acknowledgement that a taxpayer’s return is accepted for processing is
not a guarantee to either the taxpayer or the lender that the taxpayer will receive a
refund or that TRD guarantees the amount of the refund. TRD does not guarantee a
specific date of refund issuance or the issuance of the anticipated refund amount,
and does not accept inquiries from financial institutions concerning the issuance or
amount of refunds. TRD is not liable for any loss suffered by the taxpayer, the ERO,
or the financial institution as a result of an RAL.
Any entity providing RALs must explain to taxpayers applying for RALs that an RAL
is an interest-bearing loan, not a faster way to receive income tax refunds.
Responsibilities of Tax Practitioners
All tax preparers, EROs, and Fed/State transmitters accept specific responsibilities
regarding filing New Mexico personal income tax returns.
Tax practitioners must do the following:
Comply with the requirements set forth in this guide and with the requirements
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and procedures set by the IRS.
Maintain a high degree of integrity, compliance, and accuracy.
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Examine two forms of taxpayer identification before preparing returns or
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accepting returns for electronic transmission.
Be alert to suspicious electronic filing transactions and report them to the local
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New Mexico TRD district office.
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