Early tax filers in Colorado can expect to get a rebate check providing them with some extra money as the United States faces rising inflation.
Colorado taxpayers who filed before June 30 will receive $750 rebates, while joint filers will get $1,500 before the end of September. The early return for this rebate was made possible due to a new law signed by Gov. Jared Polis in May, according to a press release from the governor.
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“Gov. Polis believes the government should not unnecessarily hold on to your money for close to a year longer rather than get it back to people as quickly as possible, which is why he and the legislature took this action,” a spokesperson for Polis told the Washington Examiner. “Coloradans know that it’s incredibly cynical and purely politically motivated to suggest that because there is an election coming up, it should be used as an excuse to further delay these refunds that are needed by people. On top of these refunds now, Coloradans are getting an income tax rate reduction for all income earned in 2022 and an additional refund next April.”
Colorado taxpayers can receive a tax rebate estimated at $400 for individuals and $800 for joint filers, Polis announced in April. However, that total has now increased due to the state’s economic performance, with its unemployment rate at 3.4% as of June.
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Extended filers who missed out on the June 30 deadline have until Oct. 17 to file their taxes and will receive their refund by Jan. 31, 2023.
Filers are asked to list their most recent addresses on record with the Department of Revenue because the checks will be mailed to the filer’s last known address.
