This year, Colorado tax filers will receive a $800 stimulus check – Thanks to the Taxpayer Bill of Rights, Colorado residents could receive a $800 check in the mail by late summer (TABOR). State legislators announced the plan in late April.
Governor Jared Polis announced that the check will be distributed to all tax filers in the state, with single filers receiving $400 and joint filers receiving $800.
Who is eligible for the Stimulus Check Refund?
Every taxpayer in the state will receive a stimulus check refund, but this does not guarantee that citizens will receive one each year. The checks are only issued when the state has a budget surplus and there are no other viable options for spending the funds to improve public services.
Colorado has a larger-than-normal surplus this year. Senate Bill 233, which was passed in late April, authorized a refund check to state residents.
There are no income thresholds that determine who receives a check and who does not, nor is there a sliding scale that changes the value of the check based on income.
Recipients must also be full-time Colorado residents.
A Deal of Compromise
Democratic Governor Jared Polis reportedly pushed for the refund stimulus check to be distributed to all residents, while progressive state legislators from his party pushed for the refund to be distributed to the state’s lowest earners.
“We found a good compromise to ensure that we’re getting people the money they need much faster than we would have before,” Democratic Denver state Rep. Emily Sirota said.
During a press conference, Governor Polis stated that the plan will assist residents in paying for food, gas, and consumer goods as inflation continues to wreak havoc on Americans’ wallets.
“We understand that the last year has been difficult,” he said. “Rising prices, $4 a gallon gas, more expensive groceries… Instead of sitting on this money, we know $400 will help people right now.”
How Will Residents Get Their Stimulus Money?
There is no need to apply for the check because every resident is eligible. Every eligible person receives a check in the mail.
Residents should make certain that they have filed their 2021 tax returns in order to receive the check.
TABOR refunds will be issued six to nine months earlier this year than in previous years.