Stimulus update: Direct payments worth up to $1,500 getting sent to Colorado taxpayers in eight days
Misty Severi
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Residents in Colorado only have eight more days before they receive a tax rebate of up to $1,500, given that their 2021 taxes have been filed.
The payment, scheduled for Jan. 31, will be for state residents who filed for an extension of their 2021 taxes. Any residents who filed taxes by Oct. 17 will get $750 from the Colorado Cash Back program. Eligible couples will get $1,500, according to the state’s Department of Revenue.
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Gov. Jared Polis (D-CO) signed a law for the funds in May that would return money to taxpayers. The amount was intended to be $400 for individual filers and $800 for couples. However, because of additional state revenue, the rebate amount increased, the department said.
The first round of funds was disbursed by Sept. 30 of last year, which was for recipients who had filed their 2021 taxes by June 30.
The Colorado Cash Back program is a one-time refund of state revenue and is different from the Great Colorado Payback program, which is a program from the Department of the Treasury to help state residents locate their unclaimed property.
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To be eligible for the cash-back payment, Colorado residents must have been 18 years old by or on Dec. 31, 2021, been residents of Colorado for the entire 2021 income tax year, and filed a state income tax return for 2021 or applied for a Property Tax/Rent/Heat Credit Rebate.
Additional information regarding the cash-back payment can be found on the Colorado Department of Revenue’s website.