Colorado will mail $750 to $1,500 Cash Back check until January 2023 to eligible residents under the program called Colorado Cash Back.
$750 to $1,500 Cash Back check will be mailed to residents in Colorado. (Photo: CNBC)
$750 to $1,500 Cash Back Check in Colorado
The state of Colorado will be mailing an amount between $750 for single filers and $1,500 for married couples under the program the Centennial State called Colorado Cash Back. This will be mailed to the residents in the states who filed their taxes.
Sarah Barnes, director of family economic prosperity initiatives for nonpartisan advocacy group Colorado Children’s Campaign, said “Many Colorado families are still feeling the economic impacts of the pandemic, combined with the rising cost of living in the state.”
Moreover, most of the eligible residents in the states have already received Cash Back checks. These are taxpayers who filed their Colorado state income tax return or applied for a property tax, rent or heat credit rebate by June 30. However, if you got an extension on Oct. 17, 2022, you will receive your Cash Back sometime on January 2023, according to an article published in FORBES ADVISOR.
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How To Become Eligible?
The state amended the Taxpayer’s Bill of Rights (TABOR) which made it possible to have Cash Back payments. This now requires the Colorado government to return excess state revenues.
It was expected that each taxpayer will receive $400 but it was increased and boosted because of the strong economy of the state. Single filers will receive $750 while married couples jointly filing together will receive $1,500 cash back payments.
The following are the criteria to receive the Colorado Cash Back check:
- Was at least 18 years old as of December 31, 2021
- Was a Colorado resident for all of 2021
- Filed a 2021 Colorado state income tax return or applied for a Property Tax/Rent/Heat Credit (PTC) Rebate
Furthermore, if you filed your 2021 Colorado tax return but moved out to other states in 2022, you are still eligible to receive Cash Back check.
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