Tax refund up to $1,044 on October 15: Which state gives it and who can receive it?
The state of Colorado continues to send tax refunds of up to $1,044 to some residents. Find out who are qualified to receive this amount on October 15.
The state of Colorado continues to send property tax/income/heat credit (PTC) rebates which amount to up to $1,044 to some of its residents. Find out who are eligible to receive the payment on October 15.
Tax refund up to $1,044 on October 15: Who will receive it?
According to the official Colorado government portal, the 2022 PTC refund is available to qualified residents who lived in Colorado from January 1 to December 31, 2022.
Individuals whose total income from all sources was less than $16,925 for single filers and $22,858 for married filers filing jointly are eligible.
Additionally, as of December 31, 2022, you must have met one of the following criteria:
- Be 65 years old or older.
- Be a surviving spouse, aged 58 or older. If you got divorced before your spouse died, you are not considered a surviving spouse.
- Be a disabled person of any age who is unable to engage in any substantial gainful activity for medical reasons.
- Paid property taxes, rent, or heating bills during this period.
- Not claimed as a dependent on another person's federal income tax return.
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How to apply for property tax/income/heat credit (PTC) rebate
Anyone who has requested a refund within the last two years can submit the refund request for free electronically through the Revenue Online service.
All you have to do is click on ‘File a Return or PTC Form’. Supporting documentation must be submitted as electronic attachments when the application is submitted to Revenue Online.
Applications for the 2022 Colorado PTC refund must be submitted by December 31, 2024.
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These residents will receive their PTC refund on October 15
The refund amount can be up to $1,044 a year for applicants and if you apply in 2023, you could receive a refundable tax credit of up to $1,000.
The next payment date is October 15 for those whose application was received, approved and processed before September 10 and chose to receive their refund via postal mail in a paper check.
Those whose application was received, approved and processed before December 10, will receive their payment via direct deposit on January 5, 2024, and January 15, 2024 if they chose to receive their refund in a check.
Finally, if the request was received, approved and processed before December 31, the refund will be sent by deposit 10 weeks after receipt of your claim and 12 weeks later via postal mail.
For more information and details, visit the property tax rebate/income/heat credit (PTC) web portal.