How to File a Colorado Income Tax Extension

A Colorado income tax extension offers individuals an additional six months to submit their state tax returns, pushing the filing deadline from April 15 to October 15. This is an extension of time to file the necessary paperwork, not an extension of time to pay any taxes owed. Failing to pay by the original due date can result in penalties and interest charges, even if a filing extension is in place. The extension provides more time to gather documents and complete the Colorado Income Tax Return.

Understanding the Automatic Extension

Colorado grants an automatic six-month filing extension, which means there is no state-specific form to submit to receive the extra time. The primary condition for a valid extension is the payment of your estimated tax liability by the original April deadline. You are not required to file a federal extension to receive the Colorado extension.

Making a Payment with an Extension

Even with an automatic extension to file, the deadline to pay your taxes remains April 15. To avoid penalties, you must pay at least 90% of your total Colorado tax liability by this original due date. Any remaining balance paid after April 15 will be subject to interest charges, but meeting the 90% threshold protects you from late-payment penalties. This requires estimating your income and tax obligation for the year before the filing deadline.

To make a payment with an extension, use the Colorado Payment Voucher for Tax Year, Form DR 0158-I. This form is not an extension request but is the document that must accompany your payment if you are mailing a check or money order. You can download Form DR 0158-I from the Colorado Department of Revenue’s website. The voucher requires you to provide your name, address, and Social Security number, along with the amount of your estimated tax payment. This figure should be based on a careful estimate of your total income, deductions, and credits to ensure you meet the 90% payment requirement.

How to Submit Your Extension Payment

The first method is to mail your payment. You must send a check or money order, payable to the “Colorado Department of Revenue,” along with the completed Form DR 0158-I. Write your Social Security number and “2024 DR 0158-I” on the memo line of the check to ensure proper credit to your account.

You can also make your payment electronically through the state’s Revenue Online portal. This system allows you to make a direct payment without needing to mail Form DR 0158-I. On the portal, navigate to the payment options and select the choice for making an extension payment. You will need to provide your personal information and bank account details to authorize an electronic funds transfer.