DENVER (KDVR) — Gov. Jared Polis signed a bill Monday that will issue tax refunds to most Colorado taxpayers this summer instead of having residents wait until next year when they file their taxes.
According to Polis, every Coloradan who files taxes by the end of May should get a check of at least $500. Those who file jointly should get at least $1,000, up from the $400 and $800 that were initially announced.
“People are paying more for everyday items like gas, groceries, and rent through no fault of their own. Instead of the government sitting on money that Coloradans earned, we want to give everyone cashback as quickly and easily as possible to provide immediate relief and empower people to do what they want to with their money,” Polis said when the bill was first announced.
- Every full-time Colorado resident and taxpayer who files by May 31, 2022, is eligible
- Individuals will receive $500, and joint filers will get $1,000
- The check will come in the mail in either August or September
- The governor said this money will be a tax refund that residents get by Sept. 15 instead of spring 2023
- About 3.1 million residents will receive the payment
You can watch a replay of the bill signing in the player above.