Colorado Stimulus Check: What To Know in 2024

A new Colorado stimulus check can ease the financial burden for many state residents, especially when they’re finding it difficult to make ends meet. While there are no new stimulus packages offering direct payments in the state, you may still be able to get more money back when you file your taxes through tax credits.

There are also a number of assistance programs to explore for financial help, such as unemployment insurance, food benefits, and rental assistance.

Is There a Colorado Stimulus Check in 2024?

While there’s no new Colorado stimulus check for 2024, qualifying taxpayers can have more money in their pocket when they file their income tax returns through tax credits like the Earned Income Tax Credit (EITC), Child Tax Credit, and the Taxpayer’s Bill of Rights (TABOR) refund.

While you won’t get a direct check through tax credits, they can reduce your taxable income, so you may get a larger tax refund. Taxpayers received a check in the mail for the TABOR refund in 2022, but in 2024, you’ll get the money through your tax filings in the form of higher refunds.

Colorado Stimulus Check 2024

While you won’t get a stimulus check if you qualify for TABOR or other tax credits, you may get a larger tax refund when you file your state income taxes. The Taxpayer’s Bill of Rights (TABOR) is an amendment to the Constitution of the Colorado state that limits the amount of revenue the state government can retain. The excess revenue is refunded to eligible taxpayers.

As per the legislation passed during the November 2023 special session of the General Assembly, lawmakers will issue flat refunds to everyone. Typically, TABOR rebate amounts are based on income, but they’re set to be flat for the tax year 2023.

How do Colorado Stimulus Checks Work?

TABOR limits the tax revenue the state can retain, and the surplus is refunded to eligible taxpayers. Unlike in previous years, the TABOR refunds will be equal for all eligible taxpayers in 2024.

It’s estimated that the state will refund $3.28 billion to Colorado residents. The amount you qualify for will depend on whether you’re a single filer or filing jointly. While you won’t get a Colorado stimulus check in the mail, you can expect to see a higher tax refund if you qualify.  

Who Is Eligible for Colorado’s Stimulus Checks?

You may be eligible for a TABOR refund if you meet these eligibility requirements:

• You lived in the state of Colorado for all of 2023
• You were 18 years or older for all of 2023
• You’re claiming a refund of wage withholding or owe taxes on your 2023 state income tax return

How Much Do You Receive and When

If you’re a qualifying single filer in Colorado, you can receive a TABOR refund of $800. If you’re filing jointly, you can qualify for $1,600.

You won’t get a check in the mail if you qualify. When you file your state income tax returns, the tax credit will be reflected in it. The TABOR refund will be issued as a part of your tax refund.

“Make sure when filing your taxes that you include this tax credit and that your tax preparer knows about this. It's new in 2023, so it could be missed,” says Teresa Dodson, debt expert and founder of Greenbacks Consulting.”

How To Track the Status of Colorado’s Stimulus Checks

Since there’s no direct Colorado stimulus check issued by the state government, you can’t track its status. However, you’ll see the credit reflected in your state tax return if you qualify.

Tax credits reduce your tax obligation, and if you’re eligible to get a state tax refund, you’ll receive it in your bank account through direct deposit or as a paper check. You can use the “Where’s My Refund for Individuals” online tool to check the status of your refund check on the Colorado Department of Revenue website.

How To Apply for Colorado’s Stimulus Checks

If you were a full-year Colorado resident in 2023, you can claim your TABOR refund by filing your state income tax returns.

The deadline for filing the 2023 DR 0104 was April 15, 2024, if:

• You were 18 years or older at the beginning of the tax year
• You don’t have a state income tax liability
• You aren’t claiming a refund of wage withholding
• You’re not required to file a state return because you don’t have any IRS federal filing requirements

You can file your 2023 DR 0104 before October 15, 2024, if:

• You have a state income tax liability
• You’re claiming a refund of wage withholding
• You’re required to file a state return because you’re required to file a federal return

Some residents can also file a Property Tax/Rent/Heat (PTC Rebate) for 2023 instead of filing a state income tax return.

Explore Financial Assistance Resources in Colorado

If you’re struggling with financial hardship, we recommend exploring government assistance programs for seniors and low-income families you may qualify for instead of relying on Colorado stimulus checks.

The federal government has a number of financial assistance programs in place to help support low-income Americans. You may qualify for housing assistance, unemployment benefits, food stimulus programs, and healthcare assistance.

Additionally, you may want to consider enrolling in Colorado debt relief programs like debt settlement, credit counseling, or debt management programs to pay off your existing debts.

Visit our Utah stimulus checks, Wyoming stimulus checks, and Kansas stimulus checks pages for information about other states.