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Thursday, December 8, 2022

Stimulus Check Update- Another State Has Been Issuing A Payment Of $1,500

It is reported that the residents of Colorado will be receiving a new stimulus check payment as soon as the next week.

The residents are all set to receive a one-time tax rebate check worth a sum of $750 for individuals as well as a sum of $1,500 for joint filers as soon as the next week. Under the tax rebate scheme that falls under the Colorado Cashback program, the residents who have already gone ahead and filed their latest state tax return should definitely be expecting to receive the payments anywhere from next week, up until the 30th of September this year. For those who end up qualifying for the rebate and will also be waiting to file their tax return for 2021, the tax rebate will be used by the 31st of January, 2023. 

Colorado To Issue Stimulus Check Payments

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Jared Polis, the Governor of Colorado, went on to announce this new round of stimulus check payments on the 21st of June. The Governor stated that the rebates would be declared available in the latter half of August, which would courtesy of a clause within the Colorado Taxpayer Bill of Rights, which has also been called the TABOR- one that would be granting the authority to the state legislature to refund the taxpayers with excess in tax revenue. At the time, Polis also went on to praise the plan- while expressing his pride in the state of the state and the national economy.

The Governor further mentioned that the period was quite weird, considering that despite the economy doing so well, everyone was still feeling the pressure of the increased prices. And since the state has been able to do so well, they have been given the provision to increase the amount of the refund. 

In order to qualify for the stimulus check rebate, residents should be at least 18 years of age on the 31st of December, 2021. The recipients who have been eligible should also be full-year residents of the state of Colorado. 

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