DENVER — The Colorado Department of Revenue today announced that the state has started processing income tax returns from third-party services and shared a new, online tax benefits hub to help taxpayers save potentially thousands of dollars.
Found at Tax.Colorado.gov/SaveMoney, the new online resource offers tax benefits information in an easy-to-understand format and is organized into four high-impact tax groups:
- Families and individuals
- Seniors and retirees
- Charitable contributions
- Climate-friendly
These four groups house dozens of tax credits and subtractions available to eligible taxpayers. Many of these credits are refundable and can benefit qualifying individuals and businesses, even if they have little or no state tax liability.
“The Department of Revenue is constantly working to serve our customers and ensure that they can access our resources as effectively as possible,” said Heidi Humphreys, Executive Director, Department of Revenue. “We’re proud to offer this new resource.”
The webpages also have a high-level overview of each tax benefit so taxpayers can easily determine their potential eligibility.
The potential savings for families and individuals for tax year 2024 are substantial and include dozens of tax breaks that can save thousands of dollars, such as:
- Colorado Earned Income Tax Credit - As an example, a couple filing jointly with two kids and an adjusted gross income of $50,000 would receive $1,334;
- Colorado Child Tax Credit - Up to $1,200 per child (for children under 6);
- Family Affordability Tax Credit - Up to $3,200 per child under 6-years-old and up to $2,400 per child between the ages of 6 and 16;
- Innovative Motor Vehicle Tax Credit - Up to $7,500; and
- Colorado Promise Higher Education Tax Credit - varies depending on school; provides eligible students with tuition and fees for their first two years of college.
The tax credits hub is just one part of an effort to spread awareness about savings in the form of tax credits, subtractions, and rebates.
Coloradans can also find out information through www.GetAheadColorado.org. Get Ahead Colorado helps connect more Coloradans to essential tax credits, such as the Earned Income Tax Credit and the Child Tax Credit. These tax credits play a pivotal role in improving economic mobility, health, and educational outcomes for Coloradans and their families.
INDIVIDUAL INCOME TAX RETURNS
How to file
- Online - The Taxation Division encourages Taxpayers to file electronically to cut down on processing time and the potential for errors as well as issues in transit. Taxpayers can currently file with one of the many third-party vendors who offer certified electronic income tax filing products. Income tax processing will be available on Revenue Online in the near future.
- By mail - Instructions about filing State income tax are available on each form.
The tax filing deadline for tax year 2024 is April 15, 2025; however, the state offers an automatic six-month extension for filing as long as payment obligations are satisfied by April 15.
Useful information
Up-to-date information, including the status of state income tax refunds, is at Tax.Colorado.gov — just click on the “Where’s My Refund” banner.
Taxpayers can call the Taxpayer Helpline by phone at (303) 238-7378, 8 a.m. to 4:30 p.m. Monday through Friday. Please note, translation services are available upon request. To physically visit a Service Center for help, please schedule an appointment. Taxpayers who need low or no-cost help filing state income tax returns should visit Tax.Colorado.gov/Community-Tax-Help for additional resources.