Colorado taxpayers are in for a financial boost, thanks to the Taxpayer’s Bill of Rights (TABOR) refund. Eligible residents could receive up to $1,600 in tax refunds, a welcome relief for many families. If you live in Colorado, you might be entitled to this payout—but you have to act fast and file your taxes on time.
What Is the TABOR Refund?
The TABOR refund is a result of Colorado’s unique tax law, which requires the state to return excess revenue to taxpayers when it collects more than the legal limit. This year, Colorado has a surplus, and that money is being sent back to eligible residents in the form of tax refunds.
Who Is Eligible for the TABOR Refund?
To qualify for the refund, you must meet the following requirements:
- Be at least 18 years old as of January 1, 2023
- Have been a full-year Colorado resident in 2023
- File a 2023 Colorado state income tax return or submit a Property Tax/Rent/Heat Credit (PTC) Rebate application
How Much Will You Get?
The refund amount depends on your filing status:
- Single filers: Up to $800
- Joint filers: Up to $1,600
These refunds are designed to give back to taxpayers and help them with everyday expenses.
How to Claim Your Refund
Claiming your TABOR refund is easy, but you need to follow these steps:
- File Your 2023 Colorado State Tax Return – Use Form DR0104 to submit your return. If you don’t normally file taxes but still want to claim the refund, submit a PTC Rebate application instead.
- Meet the Deadline – The deadline to file is April 15, 2024. If you need an extension, you have until October 15, 2024, but don’t wait too long!
- Check the TABOR Refund Box – Make sure you select the refund option when filing.
- Use the Right Identification – If you don’t have a Social Security Number, you can use an Individual Taxpayer Identification Number (ITIN) to file.
How to Make Sure You Get Your Refund on Time
To avoid delays, follow these simple tips:
File electronically – This speeds up processing and reduces errors.
Double-check your personal details – Make sure your name, SSN/ITIN, and address are correct.
Track your refund – Use the Colorado Department of Revenue’s “Check My Refund Status” tool online.
Final Thoughts
This TABOR refund is essentially free money for eligible taxpayers in Colorado. If you qualify, don’t miss out—file your tax return before the deadline and claim your refund!
For more information, visit the Colorado Department of Revenue’s website and make sure you get the money you deserve.
