DENVER (KDVR) — After a delay, the Colorado Department of Revenue began processing income tax returns from third-party services on Friday.
Starting Friday, the state will process all income tax returns completed through third parties like TurboTax and H&R Block. Those wishing to complete their return through the state’s free online service will be able to do so in the coming days.
The Internal Revenue Service has been accepting taxes since Jan. 27, but those filing Colorado state taxes were told to wait several weeks while the Department of Revenue completed the “necessary work to ensure taxpayers have a smooth and secure tax filing experience.”
The department previously told FOX31 that it historically begins processing income tax returns between Martin Luther King Jr. Day and early February. In 2024, Coloradans were able to file 2023 state taxes in mid-February.
How do I file my income tax return?
Now that returns are being processed, the state gave tips on how individuals can file and receive their returns.
File online
The Taxation Division encourages taxpayers to file online to cut down on processing time and the potential for any errors during transit. As of Friday, taxpayers can file with third-party vendors who offer certified electronic income tax filing products.
The state said income tax processing will be available on Revenue Online in the coming days.
File by mail
If you choose to file your taxes by mail, the state said instructions are available on your form.
New hub for tax benefits information
Along with the news that state tax returns are being processed, the state also shared information about a new resource that can help with tax benefits.
The online resource offers information on four high-impact tax groups — families and individuals, seniors and retirees, charitable contributions and climate-friendly.
The state said the webpage also offers overviews of each tax benefit, so taxpayers can determine their eligibility.
Some of the tax breaks include:
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
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 filing deadline for the 2024 tax year is April 15. However, Colorado offers a six-month extension as long as payment obligations are satisfied.
