Tax rebates 2023: Colorado taxpayers getting up to $1,500 this month
Asher Notheis
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Colorado residents who have filed their 2021 taxes can expect to receive some extra money before the end of January.
The Colorado Cash Back program will give taxpayers who filed their 2021 taxes by Oct. 17 a payment of $750 by Jan. 31, with eligible couples getting $1,500. Gov. Jared Polis (D-CO) signed the law on May 23, 2022, to return money to taxpayers, with the intent for the payment to be $400 for individual filers and $800 for couples. However, the amount was increased due to excess state revenue, according to Colorado’s Department of Revenue.
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To be eligible for this payment, residents of the Centennial State must have been 18 years old by or on Dec. 31, 2021, be residents of Colorado for the entire 2021 income tax year, and have filed a state income tax return for 2021 or applied for a Property Tax/Rent/Heat Credit Rebate, according to the Department of Revenue.
This payment arriving by the end of the month will be for state residents who filed for an extension. The first round of payments was for people who had filed their 2021 taxes by June 30, which were paid to residents by Sept. 30.
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If a taxpayer who is eligible to receive this payment owes money to a government agency, such as child support or unpaid parking tickets, the rebate amount will decrease.
Additional information regarding this payment can be found at coloradocashback.com.