$750 checks are heading to taxpayer mailboxes in August

The Colorado Department of Revenue will be sending 2.4 million checks in early August to Coloradans who have filed state tax returns and plans to have finished distribution by the middle of the month.

These checks are mainly thanks to the Colorado Taxpayer Bill of Rights (TABOR). Every time the state has a tax surplus and brings in more taxes than it plans to spend, that money is refunded.

Gov. Jared Polis signed a bill that tweaks this year’s TABOR refund, which creates an even amount for every taxpayer instead of a proportional refund, and sends that refund out earlier than the spring of 2023.

Individual filers can expect checks worth $750 and joint filers should receive $1,500 checks. To be eligible for the checks you must have been 18 years old on Dec. 31, 2021, and filed a state income tax return for the 2021 tax year before the deadline.

The Department of Revenue says it will start mailing checks on Aug. 1 and will continue mailing out the 2.4 million payments through the middle of the month.

“By law, we have to start transmitting the data on August 1, and then it’ll take a few days and some time to print and get through the mail,” said Executive Director of the Colorado Department of Revenue Mark Ferrandino.

The department is giving a window that all checks should be received by Sept. 30, knowing that some people may have forwarding addresses and the process may take a little longer through the U.S. Postal Service.

Coloradans should be able to use USPS’s informed delivery service to track the checks and the time when they should be hitting mailboxes. They will not be direct deposited into accounts.

More Details and Full Story Here

Sponsored Content

Sponsored Content