Colorado residents who filed their 2021 taxes will receive some extra money in a little more than three weeks.
The Colorado Cash Back program will give taxpayers who filed their 2021 taxes by Oct. 17, $750 by Jan. 31. Eligible couples will get $1,500. Colorado Gov. Jared Polis signed the law in May to return money to taxpayers and originally intended for the payment to be $400 for individual filers and $800 for couples, but due to excess state revenue, the amount that recipients will receive has been increased, according to the state’s Department of Revenue.
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To be eligible for this payment, Colorado residents must have been 18 years old by or on Dec. 31, 2021, have been 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 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 and was paid to residents by Sept. 30.
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The amount that a recipient receives from this rebate will go down if the recipient owes money to a government agency, such as child support or unpaid parking tickets.
Additional information regarding this payment can be found on the Colorado Department of Revenue’s website.
