How Do I Get My TABOR Refund? Steps to Claim Your Money

Colorado residents may be entitled to a TABOR refund, a reimbursement mandated by the Taxpayer’s Bill of Rights (TABOR) amendment. This amendment limits state revenue growth and requires refunds when revenues exceed set limits. Understanding how to claim your TABOR refund ensures you receive any funds owed.

Eligibility Factors

To qualify for a TABOR refund, you must have been a full-year Colorado resident during the tax year in question. Partial-year residents and non-residents generally do not qualify, as the refund is intended for those who contribute to the state’s revenue system.

Filing your state income tax return on time is crucial. For the 2024 tax year, the deadline is April 15, 2025. Late filings may result in disqualification. Ensure your return is accurate, as errors or discrepancies can lead to delays or denials. Double-check all entries to avoid issues.

Refund amounts are distributed on a tiered basis, often tied to your adjusted gross income (AGI). This system aims to distribute the surplus equitably based on financial contributions.

Necessary Forms

To claim your refund, use the Colorado Individual Income Tax Return, Form DR 0104. Ensure you use the latest version for the 2024 tax year. Attach any relevant schedules or forms, such as DR 0104AD for income subtractions or DR 0104CR for tax credits.

Electronic filing is recommended for accuracy and efficiency. The Colorado Department of Revenue’s e-file service reduces errors and speeds up processing. Retain digital copies of your submitted forms for your records.

Filing Steps

Prepare your financial documents, including W-2s and 1099s, and ensure all information is accurate. Stay informed about any tax law changes for the 2024 tax year that could affect your calculations or refund amount.

Use tax software or professional services to complete Form DR 0104. These tools can simplify complex scenarios, like reporting capital gains or retirement income, which may require additional forms. Electronic filing options often include error checks and automatic updates to tax codes.

Double-check your entries to prevent common mistakes, such as incorrect Social Security numbers or bank account details for direct deposit. Even small errors can delay your refund. Set reminders to ensure timely filing.

Receiving the Refund

After filing, refund processing times can vary from a few weeks to several months. Opting for direct deposit can expedite the process. Provide accurate bank details to avoid delays.

Outstanding obligations, such as back taxes or unpaid state debts, may reduce your refund amount. Review your financial obligations with the state to manage expectations.

Checking Refund Status

Track your refund through the “Revenue Online” portal provided by the Colorado Department of Revenue. You’ll need your Social Security number, filing status, and the exact refund amount claimed on your return.

The portal shows refund processing stages, such as receipt, review, or approval. If discrepancies are flagged, your return may be delayed. Respond promptly to any requests for additional documentation. For those who prefer not to use the online system, a phone inquiry service is also available.

Amending Your Filing

If you discover an error after submitting your return, file an amended return using Form DR 0104X. This allows you to correct mistakes like misreported income or missed deductions.

Clearly explain the changes and include supporting documentation. File the amended return within four years of the original deadline to claim additional refunds or resolve issues. Amended returns take longer to process, so patience is required. Use the Revenue Online portal to track its progress.