Colorado Springs, CO (KKTV)-11 News is working to get answers to questions many may have about your tax return this week. As of Tuesday night, Colorado had not accepted the state's return. However, there is new information about when Colorado is beginning to accept state tax returns and why it took so long. The good news is that the Colorado Department of Revenue said it will be one day this week. Another good news is that some parents get a bigger refund than the previous year, but if a refund is scheduled, it may take some time before they get that check.
“You can process returns and send them, but when they're smacking their feet they're going to get it to him They are upset because they are hoping for that great refund that said,” Kathy Bailkas said along with your tax lady company.
Kathy Bylkas has been taxing in Colorado Springs for years. She says this year is the latest to see Colorado waiting for returns.
“We've sent hundreds of returns so far,” Bailkas said.
Part of the reason could be a new tax credit. The Colorado Department of Revenue sent this email Tuesday.
“Throughout the year, the Department of Revenue has tirelessly worked to implement 26 major changes to the tax law, including 14 new tax credits that save money for Coloradan and businesses. All of these are tax treatments. It must be programmed into the system and thoroughly tested. I would like to thank Coloradan for the patience. I know that income tax refunds are important for hardworking Coloradans. I take the lessons learned from this iteration. And I will be able to be as efficient as possible next year.”
One of these credits is called the Colorado Affordable Tax Credit.
“That credit can potentially deliver up to $3,200 per child, depending on the child's income and age. Colorado has a more supportable refundable tax credit than other states. Because they are states, adding them to the federal tax credit can have such a strong impact. Isabelle Dixon, Economic Mobility Program Manager for the Colorado Department of Public Health and Environment, said: It's there.
Colorado has not yet accepted returns, but Bylkas said they still need to file it.
The last day you will be submitting taxes as an extension is April 15th.
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