Tax rebates 2023: 16 days till Colorado taxpayers receive payment of up to $1,500

Colorado residents who filed their 2021 taxes have a little bit greater than two weeks earlier than they obtain a tax rebate.

Taxpayers who filed their 2021 taxes by Oct. 17 will get $750 from the Colorado Money Again program by Jan. 31.
Eligible {couples} will get $1,500.

HOUSING, CRIME AMONG TOP PRIORITIES DURING GOV. POLIS’S INAUGURATION SPEECH

Gov. Jared Polis (D-CO) signed a legislation in Might to return cash to taxpayers and initially supposed for the cost to be $400 for particular person filers and $800 for {couples}, however on account of further state income, the quantity recipients will obtain has been elevated, in response to the state’s Division of Income.

The cost scheduled for Jan. 31 shall be for state residents who filed for an extension. The primary spherical of funds was for individuals who had filed their 2021 taxes by June 30 and was paid to residents by Sept. 30.

To be eligible for this cost, Colorado residents will need to have been 18 years outdated by or on Dec. 31, 2021, have been residents of Colorado for all the 2021 earnings tax 12 months, and have filed a state earnings tax return for 2021 or utilized for a Property Tax/Lease/Warmth Credit score Rebate, in response to the Division of Income.

This cost is completely different from the Nice Colorado Payback program, which is a program from the Division of the Treasury to assist state residents find their unclaimed property. The Colorado Money Again program is a one-time refund of state income.

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The quantity {that a} recipient receives from this rebate will go down if the recipient owes cash, equivalent to for baby assist or unpaid parking tickets, to a authorities company.

Extra info concerning this cost may be discovered on the Colorado Division of Income’s web site.