The Democrat-controlled House approved a $25 billion budget Thursday that includes funding increases for education, transportation, and money earmarked for surplus tax refunds – a sign of the state’s continuing economic gains.
Colorado residents will benefit from the growing state economy with special tax refunds next year, but exactly how much is a question lawmakers will wrestle with over the coming months.
Concerns about fraud have led to what the Colorado Department of Revenue called a major undertaking to change the way it issues some tax refunds this year.
Colorado lawmakers are preparing to debate tax refunds during what’s expected to be a packed legislative session where resolving complicated issues will be more challenging with each major party controlling a chamber of the Statehouse.
Colorado residents will get tax refunds because the state’s improving economy means government is collecting more revenue than it is allowed to keep under the voter-approved Taxpayer Bill of Rights.
Colorado’s growing economy means tax refunds are on the horizon for residents.
Some tax filers are finding identity theft is getting in the way of their refunds.
The Internal Revenue Service has a message for taxpayers eager to learn the status of their tax refund: Please don’t check the IRS website every five minutes — once a day is enough.
Millions of people are getting a jump on filing their tax returns now that they have received their W-2s and 1099 forms. And for most, the incentive to get moving is to get that tax refund in their bank account as soon as possible.