Colorado Cashback Rebates Increase From $500/$1,000 to $750/$1,500
On June 23, Governor Jared Polis and the Colorado Department of Revenue (CDOR) again encouraged Coloradans to file taxes by June 30, 2022 to receive the Colorado Cashback refund this summer. He then sweetened the deal by announcing amounts increased by 50 percent. Coloradans will now receive rebates of $750 for single filers, $1,500 for joint filers this year. But to get them by late summer, you must file state taxes by June 30, 2022 to receive refunds on time.
“I urge all Coloradans to complete their state tax filing right away so you can get the Colorado Cashback rebate on time, said Gov. Polis.
Everyone who filed by June 30 will get the $750 or $1,500 rebates this summer. If you wait past June 30 or until the final extension deadline of October 17, then you won’t get your refund until next January.”
To receive the refund in August, full-year residents 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. Taxpayers who don’t file a return by June 30 can still file on extension before Oct. 17, 2022.
Those who file on extension in October can expect to receive their refund check by January 31, 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. On average, about 90 percent of filers file on time by April 15, with the remaining 10 percent filing by the extended deadline of October 15. 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. Coloradans can visit https://tax.colorado.gov/cash-back to receive up to date information about the tax rebates.
The Department of Revenue would also like to remind taxpayers to make sure they have a current and correct address on record with the Department, as the refunds will be mailed. 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 in.
Featured image: Colorado Cashback logo. Courtesy Colorado Department of Revenue