Tax Rebates 2023: Colorado taxpayers getting up to $1,500 next month

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FILE – In this June 15, 2018 file photo, twenty dollar bills are counted in North Andover, Mass. (AP Photo/Elise Amendola, File) Elise Amendola/AP

Tax Rebates 2023: Colorado taxpayers getting up to $1,500 next month

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Residents of Colorado can expect to start the new year off strong thanks to a payment they will receive at the end of January 2023.

The Colorado Cash Back program will give taxpayers who filed their 2021 taxes by Oct. 17 a payment of $750 by Jan. 31 of next year, with eligible couples getting $1,500. Colorado Gov. Jared Polis (D) signed the law on May 23 of this year to return money to taxpayers, with the intent for the payment to be $400 for individuals 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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The payment will be for state residents who filed 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.

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.

Anyone who was a resident of Colorado for the entirety of 2021 and has since moved away can still receive this payment so long as they filed their taxes before June 30. To ensure that one’s address is updated, one can do so by creating an account on Revenue Online or by submitting a completed Address Change Form (DR 1102).

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If a taxpayer eligible to receive this payment still owes money to a government agency, such as child support or unpaid parking tickets, the amount they receive from this payment will be decreased.

Additional information regarding this payment can be found at coloradocashback.com.

© 2022 Washington Examiner

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