Stimulus update: Direct payments worth up to $1,500 being sent to Colorado taxpayers Tuesday

The payments will be for residents of the Centennial State who filed their taxes by Oct. 17. Single filers will get $750, while eligible couples will receive $1,500.“Bills. Food. Gas. Everything costs more. We’re working to return tax rebates to Coloradans faster," State Treasurer Dave Young said in a statement in May.

The rebates stem from the Colorado Cash Back program, which is a one-time refund of state revenue. The program is different from the Great Colorado Payback program, which is aimed at helping Coloradans locate unclaimed property. Residents must be at least 18 years old and have either filed their 2021 income taxes or applied for a Property Tax/Rent/Heat Credit rebate in order to qualify for the refund. Residents who moved to the state in 2022 are not eligible.

Gov. Jared Polis signed a law backing the tax relief measure in May. The program initially sought $400 for individual filers and $800 for couples, but additional funds were added after additional state revenue enabled Colorado to boost its payments.The initial round of tax relief in the program was disbursed by Sept. 30, 2022, for residents who filed their 2021 taxes by June 30, 2022. Any back taxes or outstanding debts to state or federal agencies will be deducted from the refunds.

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