A State is About to Provide Up to $1600 Stimulus Payment in the Near Future

$1600 Stimulus Payment: In 2024, qualifying Colorado taxpayers will get $800, and couples filing jointly $1,600 in TABOR refunds. This refund is calculated using revenue exceeding the taxpayer’s TABOR limit.

Nevertheless, as the tax season approaches its conclusion, a significant number of residents have yet to claim their refunds, despite the substantial refunds that are available.

Colorado taxpayers who are eligible and file their taxes can anticipate receiving a refund check when the state collects more tax revenue than TABOR permits.

Married couples who file jointly will receive $1,600, while individuals who have resided in Colorado for more than a year and pay taxes will receive $800.

To be eligible for the 2024 TABOR refund, individuals must submit a 2023 DR 0104 form by April 15, 2024, if they were at least 18 years old at the beginning of the tax year and did not pay Colorado income tax.

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How to submit a TABOR refund application

Filing for the Colorado TABOR Refund is a simple process. Visit the Colorado Department of Revenue’s website, fill out the form, attach any required papers, and verify all data before submitting. April 15, 2024, is the filing deadline.

To get the 2024 TABOR refund, taxpayers must file a Colorado individual income tax return in 2023 or petition for a Personal Tax Credit by April 15, 2024.

They must be 18 or older by January 1, 2024, and have lived in Colorado for half of the 2023 tax year.

The Department of Human Services must not commit them or they must not spend 180 days or more in detention during the state fiscal year from July 1, 2023, to June 30, 2024. They must also have no outstanding Colorado income tax balances or a desire to withhold earnings.

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