Tax Preparer'S Guide For Income Tax Returns - 2015 Page 20
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45in the 2D barcode. It is important to go back into the software product, make the
changes, and then reprint the form so the 2D barcode contains the changes.
Check with tax preparation software developers to determine whether they support
printing of the 2D barcode for the 2015 PIT-1. You may also visit
and click Tax Professionals, then Software
Developers, and then click, Approved Software for Reproducing New Mexico
Tax Forms.
ABOUT ELECTRONIC FILING
This section covers information about electronic filing, including the benefits, how to
qualify, backup documentation, receipt acknowledgements, and return rejects and
their error codes.
Benefits of Filing Electronically
Electronic filing is fast, safe, and secure. It minimizes errors and delays associated
with manual handling and data entry of tax forms. It saves tax dollars. And the
electronically transmitted return cannot be lost in the mail. Electronic returns also
have a much higher accuracy rate because the software alerts the preparer to
obvious errors. Consequently, returns are processed quicker, resulting in the fastest
possible refund. Caution: Submitting returns electronically is not the same as
preparing, printing, and filing them in paper format. When you submit a paper
income tax return, you must also attach your W-2s and other supporting
documentation required by instruction.
Additionally, taxpayers who both file and pay electronically receive an extension
of their filing deadline to May 2, 2016. If a return is filed electronically and any
taxes due are also paid electronically before May 2nd, no penalty and interest is
due. The filing deadline for all 2015 Personal Income Tax returns and payments is
April 18, 2016.
Generally for a paper return received at TRD early in the tax season, it takes four to
six weeks before the taxpayer receives a refund. If a paper return is filed after
March 15, 2016, the taxpayer may not receive a refund for up to 12 weeks. As part
of the TRD commitment to provide high quality customer service and minimize
processing costs, TRD has set a goal to process error-free, electronically-filed
personal income tax returns within 4 weeks of receipt. This means TRD would issue
a refund within 4 weeks of receipt of an error-free return that shows a refund
due.
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