Colorado Government officer Jared Polis officially signed a new bill of law last May 23 in 2022 sending the tax filers eligible for a stimulus check of up to $750 for single taxpayers and $1,500 for joint accounts under the Cashback programs organized by the state of Colorado.
Colorado Starts New Program For Affected Citizens To Receive Stimulus Check As Financial Aid
The majority of these checks should already be distributed to the recipient’s mailbox but for individuals who received an extension on their tax return up until October 17th last year, the Department of Taxation Revenue Division in Colorado has declared them to wait until January 31st of 2023 to receive their stimulus check.
The new cashback program organized by the state acts as a rebate for tax revenues received by the state above the limit of the Rights to Taxpayer Bill (TABOR). This refund entirely depends on tax return bills, property tax, heat credit refund application (PTC Rebate), or house rent filings of 2021.
Many citizens of Colorado are still suffering due to the impact of the economic crisis during the pandemic, along with the constant rise in living costs at the state, the statement was recorded by Forbes in an interview with Sarah Barnes, the director of initiatives for family economic success as the campaign for children’s residing in Colorado. Barnes commended that direct payments in the form of stimulus checks are one of the utmost impactful strategies to support these families out there.
The Colorado Revenue Department declared the list of criteria an individual needs to meet for eligibility to receive cash-back refunds from the state. The following rules are:
- Recipients must be aged 18 years or above by the time of 31st December 2021 or before.
- Must be a citizen of Colorado state for the entirety of the Income Tax season of 2021.
- Stimulus check receivers must have filled out the state’s income tax return or application for property tax/ heat credit or PTC/ rent refund that following year.
