Colorado taxpayers can expect some modest tax refunds this year under the Taxpayer’s Bill of Rights due to budget surpluses, according to the .
Depending on what adjusted gross income they report, single filers can expect to see TABOR refunds from $13 to $41. That lower figures is for a filer reporting $36,000 or less on Line 25 of the Colorado 104 tax form, while the higher figure is for someone reporting more than $204,000 on that line.
Joint filers can expect to get double those amounts, from $26 at the lower income range to $82 at the higher range.
The TABOR surpluses also triggered the reinstatement of the state’s earned income tax credit after a . That credit will offer a larger payout to those able to claim it.
Eligible taxpayers who claim that credit will receive on average $217, although low-income households with three or more children could receive up to $654, according to H&R Block.
Taxpayers need to file to get the credit. Several groups, from advocates for the poor to tax preparation firms, are trying to get the word out.
