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$1,600 Refunds Coming for Coloradans—Check If You’re Eligible

Many Colorado residents are in for a pleasant surprise this year as the state prepares to issue Taxpayer’s Bill of Rights (TABOR) refunds. Thanks to surplus revenue collected by the state, individual taxpayers can receive $800, while joint filers are eligible for $1,600. The refunds aim to help Coloradans by returning extra money from the state’s budget back into their pockets.

What Is the TABOR Refund?

Under the TABOR amendment, any time the state collects more revenue than legally allowed, it’s required to return the excess to taxpayers. For 2023, Colorado exceeded its revenue cap, meaning a refund is on the way for qualifying residents.

To claim the refund, you’ll need to file a 2023 Colorado state income tax return or submit a Property Tax/Rent/Heat (PTC) Rebate application. Even if you don’t normally file a state return, you should file this year to receive the money.

Who Qualifies for the $1,600 Refund?

You’re eligible for the refund if:

  • You’re 18 or older by December 31, 2023.
  • You lived in Colorado for the entire 2023 tax year.
  • You file a tax return or PTC Rebate application.

People with lower incomes or those who typically don’t owe taxes—such as retirees living on Social Security—can benefit by filing the simplified DR0104EZ tax form. This form is designed to make the refund process easy for individuals with little to no taxable income.

When Do You Need to File?

There are two key deadlines to keep in mind:

  • April 15, 2024: This is the deadline for individuals without a Colorado tax liability or those not claiming a refund of withheld wages.
  • October 15, 2024: This applies to those with taxable income or anyone claiming a refund of wage withholdings.

If you miss these deadlines, you may lose your chance to receive the refund.

Why This Refund Matters

The refunds come at a time when many families could use a financial boost. Whether you need extra money for rent, groceries, or medical expenses, the $1,600 refund could provide much-needed relief. Colorado officials hope the refunds will help ease the financial burden for many residents during tough economic times.

How to Claim Your Refund

Here’s a step-by-step guide to making sure you get your refund:

  1. Download the Forms: Visit the Colorado Department of Revenue’s website to access the necessary forms, including the DR0104EZ form or the PTC Rebate application.
  2. Complete the Form: Make sure to fill out all required information accurately to avoid delays.
  3. Submit on Time: File your form before the relevant deadline to guarantee your refund.
  4. Seek Help If Needed: If you’re unsure how to file, organizations like the Colorado Gerontological Society offer assistance. You can contact them at 303-333-3482 or 1-855-293-6911 for support.

Final Thoughts

Colorado’s $1,600 refund is more than just extra cash—it’s a lifeline for many households. Make sure you don’t miss out by filing your forms on time and sharing this information with friends and family who could benefit as well.

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