When Could You Receive Up to $1,142? Possible Date and Eligibility Explained

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TABOR refund: Colorado taxpayers can anticipate a TABOR refund when the state collects more tax revenue than permitted under the Taxpayer’s Bill of Rights (TABOR). In 2024, the refund amounted to $800 for single filers and $1,600 for joint filers.

These refunds are based on revenue collected above the TABOR limit, ensuring that any excess revenue is returned to taxpayers when state or local government collections exceed the prescribed threshold for the year.

Social Security Disability payment: Who will receive it this Wednesday?

TABOR refund: What date is the next TABOR payment due?

The TABOR program in Colorado redistributes surplus state monies to taxpayers. Auditors said there will be three ways to return surpluses the next year.

In the spring of 2025, Colorado taxpayers will receive almost $1.4 million in excess state income tax refunds from fiscal year 2024, which are anticipated to fall below adjusted gross income in the following amounts, according to a Post Independent report:

  • Maximum income of $53,000: $181 individual – $362 joint
  • $53,001 to $107,000: $241 individual – $482 joint
  • $107,001 to $172,000: $277 individual – $554 joint
  • $172,001 to $243,000: $330 individual – $660 joint
  • $243,001 to $320,000: $355 individual – $710 sets
  • $320,001 or more: $571 individual – $1,142 joint

How to Claim the $725 Payment for California Residents: Steps You Need to Follow

How to submit a TABOR program application

To apply for the Colorado TABOR refund, go to the Colorado Department of Revenue website, fill out the form, attach the needed paperwork, and make sure all the information is correct before submitting.

Individuals must apply for a personal tax credit before April 15, 2025, or file a Colorado tax return in 2024 in order to be eligible for the 2025 TABOR refund.

They must be 18 years of age or older on January 1, 2025, and have resided in Colorado for at least half of the 2024 tax year.

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