Colorado taxpayers can expect some modest tax refunds this year under the Taxpayer’s Bill of Rights due to budget surpluses, according to the Colorado Department of Revenue.
Depending on what adjusted gross income they report, single filers can expect to see TABOR refunds from $13 to $41. That lower figures is for a filer reporting $36,000 or less on Line 25 of the Colorado 104 tax form, while the higher figure is for someone reporting more than $204,000 on that line.
Joint filers can expect to get double those amounts, from $26 at the lower income range to $82 at the higher range.
The TABOR surpluses also triggered the reinstatement of the state’s earned income tax credit after a 16-year absence. That credit will offer a larger payout to those able to claim it.
Eligible taxpayers who claim that credit will receive on average $217, although low-income households with three or more children could receive up to $654, according to H&R Block.
Taxpayers need to file to get the credit. Several groups, from advocates for the poor to tax preparation firms, are trying to get the word out.
