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

December 12, 2018 Jesse Rooney

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.”

About the Author

Jesse Rooney is a Regulatory Analysis Counsel at Sovos. His research focuses on AEOI, ACA, information return, and sales tax issues. Mr. Rooney 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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