Form FID-1 Fiduciary Income Tax Return - New Mexico

What Is Form FID-1?

This is a legal form that was released by the New Mexico Taxation and Revenue Department - a government authority operating within New Mexico. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form FID-1?
A: Form FID-1 is the Fiduciary Income Tax Return for New Mexico.

Q: Who needs to file Form FID-1?
A: Any fiduciary, including estates and trusts, who earned income from sources within New Mexico or had a New Mexico withholding must file Form FID-1.

Q: What is the deadline to file Form FID-1?
A: The deadline to file Form FID-1 is the 15th day of the 4th month following the close of the tax year, which is generally April 15th.

Q: Are there any extensions available for filing Form FID-1?
A: Yes, a 6-month extension is available. The extension request must be filed before the original due date of the return.

Q: Is there a requirement to attach any additional documents with Form FID-1?
A: Yes, depending on the specific circumstances, certain supporting documents such as schedules, statements, and federal tax forms may need to be attached with Form FID-1.

Q: What are the consequences of failing to file Form FID-1 or filing it late?
A: Failure to file Form FID-1 or filing it late may result in penalties, interest, and loss of certain deductions or credits.

Q: Can Form FID-1 be filed electronically?
A: Yes, Form FID-1 can be filed electronically using the New Mexico Taxpayer Access Point (TAP) system.

Q: What if I have questions or need assistance with Form FID-1?
A: For questions or assistance with Form FID-1, you can contact the New Mexico Taxation and Revenue Department or consult a tax professional.