Millions of Americans will receive relief checks of up to $1,500 in DAYS

The state's tax laws will provide $1,500 to millions of Colorado residents in the near future.

On August 1, the Colorado Department of Revenue will begin sending out 2.4 million checks.

Taxpayers who file individually will receive $750, while those who file jointly will receive $1,500.

In Colorado, the Taxpayer Bill Of Rights says the state cannot spend more than it generates, so the surplus goes to residents.

A bill signed by Governor Jared Polis earlier this year gives taxpayers an even refund rather than a proportional one.

As a result of this bill, the state will begin sending out checks on August 1, rather than in the spring of 2023 as was originally planned.

All payments should be received by September 30, according to state officials.

Who is eligible?

In order to qualify for the payment, residents must be 18 years old on December 31, 2021

Eligible residents include those who applied for and qualified for a Property Tax/Rent/Heat Credit (PTC) rebate.

The program is only open to those who were full-year residents in 2021.

Jointly filed returns that have since been divorced will be mailed a check to the address on the return.

Divorced couples cannot split payments with the state.

Other payments in the state

Similar to the federal program, Colorado has introduced a new child tax credit.

Residents receive credits based on their income and filing status, which are fully refundable.

As of December 31, 2022, the Department of Revenue will offer this to taxpayers with annual incomes

Below $75,000 and married couples filing jointly with annual incomes below $85,000.

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