Every Colorado taxpayer will receive a tax rebate of  $750 for individuals and $1,500 for joint filers this summer. You will automatically get your refund in the mail this summer if you’ve already filed your 2021 taxes, as over 90% of our fellow Coloradans have. If you requested an extension or haven’t yet filed, to receive your refund in August you must either file a Colorado individual income tax return for the 2021 tax year or apply for the 2021 Property Tax/Rent/Heat Rebate Credit (PTC) by June 30, 2022. If you request an extension past June and file by the final deadline in October, you won’t get your refund until next year.

We are providing real relief when Coloradans need it most. Everyone in our state is feeling the impact of rising costs, and I refuse to let the government sit on taxpayers’ money when it could be used to make life just a little bit easier for the people of our state. I am thrilled that Coloradans will be receiving nearly double what we initially hoped, with $750 for individuals and $1,500 for joint filers, thanks to Colorado’s strong economy.

COLORADO CASHBACK - HOW TO GET YOUR REBATE

Today I joined Lieutenant Governor Dianne Primavera, Treasurer Dave Young, and the Colorado Department of Revenue (DOR) to announce that Colorado taxpayers will get more of their hard-earned money back with $750 going back to individuals and $1,500 to joint filers this summer. Coloradans have until June 30, 2022 to file their taxes to receive the tax rebate this summer. These tax rebates are money already owed to Coloradans and are getting back to them quicker thanks to a bipartisan law I signed last month.

In April, I announced that Colorado taxpayers would receive the tax rebate this summer, estimated at $400 for individuals and $800 for joint filers. Colorado’s extremely strong economic performance, with a 3.6% unemployment rate, and a job participation rate above the national average, means that Coloradans will now receive $750 for individuals and $1,500 for joint filers in tax rebates.

The Colorado Cashback tax rebate is one of over 100 steps the my administration is taking to save Coloradans money and put money back into the pockets of hardworking Coloradans. 

I urge taxpayers to file taxes by June 30, 2022 to receive the tax rebates this summer. Taxpayers who file on extension by October 17, 2022 will receive the tax rebates in January 2023. 

Every full-year Colorado resident who was at least 18 years old on December 31, 2021 should file a Colorado return to claim the Colorado Cashback Rebate even if they did not have taxable income. Those who filed by April 15th do not need to take any additional action and will receive their refund later this summer. The Department of Revenue provides community resources to assist Coloradans with tax filing and provides up to date information about tax rebates. Tax rebates will be mailed to taxpayers. If you need to update your address you can either do so by logging into or creating an account at www.colorado.gov/revenueonline or by filling out the Address/Name Change Form and mailing it to the Department of Revenue.

FREQUENTLY ASKED QUESTIONS

What is Colorado Cashback? 

The Taxpayer Bill of Rights (TABOR) in the Colorado Constitution limits the amount of revenue the state may retain and spend in each state fiscal year. Any revenue collected that exceeds this limit must be refunded to taxpayers unless voters authorize the state to retain it. The check Coloradans will receive  later this year, or early in 2023, is a refund (also known as Colorado Cashback) of excess state revenues collected in state fiscal year 2021-22 paid using a new, temporary refund process.

Senate Bill 22-233 directs the Department of Revenue (DOR) to refund at least $500+ to each qualified individual (joint filers will receive a joint payment of at least $1,000+). This refund will be paid based on the tax return or Property Tax/Rent/Heat Credit (PTC) Rebate application filed for 2021.

How much money can I expect from Colorado Cashback? 

At least $500+ for individual filers and $1,000+ for joint filers. This $500+ estimated amount per person is based on actual state revenues through April 2022, and could be revised upwards in mid-June based on actual state revenues through May 2022.

Who qualifies for Colorado Cashback? 

An individual who: 

was at least 18 years old on December 31, 2021; 

was a full-year resident of the state of Colorado in 2021; and either 

files a state income tax return for the 2021 tax year on or before June 30, 2022 (or on extension by October 17, 2022); or

applies for qualifies for the Property Tax/Rent/Heat Credit (PTC) Rebate for the 2021 grant year by June 30, 2022. 

When should I expect my Colorado Cashback?

If you qualify and file by June 30, 2022, then the refund will be issued by September 30, 2022.  If you qualify and file a state income tax return by the October 17, 2022, extension deadline, the refund will be issued by January 31, 2023.

Is Colorado Cashback the same as the Great Colorado Payback? 

Colorado Cashback is different from the Great Colorado Payback. Colorado Cashback is a one-time refund of state revenue that exceeded the TABOR limit for state fiscal year 2021-22. 

The Great Colorado Payback is an ongoing program from the Department of the Treasury to help Coloradans locate their unclaimed property. For more information about the Great Colorado Payback, visit the Treasurer’s Unclaimed Property website.

When do I need to file my state tax return?

Coloradans have until June 30, 2022 to file an income tax return or a PTC application to receive this special TABOR refund by September 30, 2022. Extension filers, who have a deadline of October 17, 2022 to file their income tax return, will not receive the refund until after they file. The deadline to send that refund is January 31, 2023.

If someone has recently moved to Colorado this year are they eligible for Colorado Cashback?

To receive Colorado Cashback, an individual must meet the following criteria:

Be at least 18 years of age on or before December 31, 2021;

Be a Colorado resident for the entire 2021 income tax year;

And file a state income tax return for the 2021 income tax year or apply for a Property Tax/Rent/Heat Credit (PTC) Rebate. 

Anyone moving to Colorado in 2022 is not eligible for this refund mechanism.

What happens if you file taxes for 2021 then move? 

If you were a full year resident in 2021, and filed your state income tax return, (or, if applicable, your Property Tax/Rent/Heat Credit (PTC) Rebate application) by June 30, 2022, you'll still be eligible for Colorado Cashback.

What is the best way to change my address if there has been a recent address change?

You can change your mailing address in two ways: If you have a Revenue Online account, you can do so online. If not, you may change your address by filing out and returning this form:

          https://tax.colorado.gov/sites/tax/files/documents/DR1102_2022.pdf

I have divorced since I filed my joint 2021 tax return. How will Colorado Cashback be sent?  Is it possible to have my portion sent to just me?

Colorado Cashback will be sent to the last known address on the 2021 tax return and payable to both individuals jointly.  The Department of Revenue cannot split the refund.

I don’t file a state tax return.  How do I get my Colorado Cashback? 

The only way to obtain the Colorado Cashback payment is to file a 2021 state income tax return, or apply for the Property Tax/Rent/Heat Credit (PTC) Rebate, by the statutory deadlines in order to receive this refund. 

I do not file a Federal Return.  Where do I get help with filing my Colorado tax return?    

A 2021 state income tax return must be filed to receive Colorado Cashback. This filing requirement is the same requirement for the existing TABOR refund of state sales tax. Many community groups, nonprofit organizations, and volunteer programs offer income tax filing assistance at low or no cost for individuals and families. For more information, visit: https://tax.colorado.gov/community-tax-help

I filed an extension with the IRS.  Will I still get Colorado Cashback if I file my state return by October 17?  If so, when will I expect to receive it? 

Yes, a qualified taxpayer in this situation is eligible for the refund, if that individual meets other requirements.  The Colorado Cashback refund will be paid to extension filers by January 31, 2023.

When will the refunds be sent out and how can I track it?

Refunds will start being mailed out August 1, 2022. Until that time, DOR will be updating systems and testing to ensure that all of the refunds can be mailed out successfully. We are actively working to see if we can offer an online tracking mechanism through your RevenueOnline account, but recommend Coloradans wait until at least September 15 to allow time for processing and mailing before checking on their payment status.

Can I have Colorado Cashback refunded by direct deposit instead of by check?

No, to prevent fraud, all checks will be mailed to the last known address as identified on the 2021 tax return. You can change your address in two ways:

If you have a Revenue Online account, the change of address can be done online.  

If not, you may change the address by filing out and returning this form: https://tax.colorado.gov/sites/tax/files/documents/DR1102_2022.pdf

Will I get Colorado Cashback if I owe back taxes or other state or federal debts?

DOR will deduct any back taxes, debts owed to other state agencies, and any IRS levies from the refund.  Once that deduction occurs, the balance, if any, will be refunded to the taxpayer.

Where can I get more information? 

This web page (Tax.Colorado.gov/cash-back) will be updated through the summer with more information and additional details. Check back frequently for the most up-to-date information. You can also find more information about TABOR refunds at Tax.Colorado.gov/TABOR. 

I am a Colorado resident but going to school in another state and did not file a 2021 tax return.  Am I eligible for Colorado Cashback?

In order to qualify a person must:

be at least 18 years old by December 31, 2021; 

be a full-year resident of the state of Colorado in 2021; and either:

file a state income tax return for the 2021 tax year on or before June 30, 2022 (or on extension by October 17, 2022)

OR apply for the Property Tax/Rent/Heat Credit (PTC) Rebate for the 2021 grant year by June 30, 2022

In general, an individual is a Colorado resident if either:

the individual is domiciled in Colorado; or

the individual maintains a permanent place of abode in Colorado and spends, in aggregate, more than six months of the tax year in Colorado.

Tax rule 39-22-103(8)(a) provides additional information and guidance about residency and domicile and how those rules apply for students, particularly subparagraph (2)(e) of this rule.

If you are a resident individual, you still must file a state income tax return for the 2021 tax year on or before June 30, 2022 (or on extension by October 17, 2022) to receive the benefit. 

SIGN UP FOR REGULAR UPDATES!

This summer, I will be traveling to every corner of Colorado to hear from communities, visit small businesses, and celebrate our great state. Sign up for my newsletter to receive regular updates from me.