DENVER (KDVR) — Sen. Michael Bennet confirmed that the 2024 TABOR refunds will remain tax-free.

FOX31 obtained the information from a meeting Bennet had with the IRS and Gov. Jared Polis on Tuesday.

TABOR, also known as the Taxpayer Bill of Rights, is a law that limits the intake and spending of revenue by the state or local governments and refunds any amount collected over that to residents at the end of the year. This limit includes the combination of income, property and sales tax.

Previously, there was a proposal from the IRS that Colorado residents would have to pay taxes on their TABOR refunds.

In August 2023, Polis called the proposal “absurd.” He said the IRS would go back on “30 years of not treating TABOR refunds as taxable income.”

However, it has been confirmed that single filers will receive the full projected amount of $800.

When will the next TABOR check come out?

Now that it is the new year, tax season is right around the corner.

According to Daniel Carr from the Colorado Department of Revenue, when you receive your TABOR check depends on when you file state income taxes.

Once you file your tax return, your TABOR refund will be processed and mailed out.

How long it takes to get the check depends on whether you have it deposited electronically or mailed. An electronic deposit takes around two weeks, while a physical check can take longer, Carr said.

The tax filing deadline for 2024 is April 15.