cColorado residents were encouraged by Governor Jared Police to file their taxes by June 30 in order to receive a Colorado cashback this summer.
Single file owners will receive payments of more than $500, while joint file owners will receive more than $1,000 If they can file their taxes in a timely manner.
“I urge all Colorados to complete their state tax filing immediately so you can receive your Colorado Cashback Deduction on time this summer,” Governor Police.
“We’re providing instant relief, putting money back into the pockets of Coloradans who work hard to help pay for everyday items, and everyone who places an order by June 30th will have over $500 or $1,000 discounts this summer.”
“If you wait after June 30 or until the mid-October extension deadline, you probably won’t get your money back until next January.”
Who will get the Colorado Cashback Discount?
To receive the rebate in August, residents must either file a 2021 Colorado Individual Income Tax Return or apply for the 2021 Property Tax Credit/Rent/Thermal Rebate (PTC) by June 30.
The government’s statement reads: “Taxpayers who do not file a return by June 30 can still apply for an extension before October 17, 2022, but those who file an extension in October can expect to receive a refund check in January 2023.”
Every Colorado resident who is at least 18 years old on December 31, 2021 must file a return application from Colorado to claim the Colorado cashback deduction even if they have no taxable income.
On average, about 90 percent of applicants submitted on time by April 15, with the remaining 10 percent submitting by the extended October 15 deadline.
“Those who filed by April 15 do not need to take any further action and will receive a refund later this summer.”
The Colorado Department of Revenue also stressed that applicants must make sure their address is correct, as payments will be mailed.
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