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    TAXPAYERS around the US are set to receive rebates of up to $13,284 in the next two weeks as states continue sending relief. The direct payments and rebate checks are a way for states to help offset the impact of inflation. 1States across the US have been offering payments as costs rise The latest Consumer Price Index rose to 8.3 percent in August with shelter, gasoline, and food contributing to the highest price increases - and Americans are feeling it. However, there's been some relief despite no fourth federal stimulus check. Over the past few months, lawmakers have had to get creative when offering payments to its residents. Some states provided funds through tax rebates, budget surpluses, and incentives. Read More on Direct PaymentsMO' MONEY Direct payments of up to $3,284 for thousands will hit accounts todayACT NOW Deadline for payments up to $300 exactly one month away - see who's eligible Below are the four states offering financial aid to residents in the coming weeks. 1. Alaska - $3,284 Governor Mike Dunleavy recently announced that eligible Alaskans will...
    MILLIONS of American taxpayers are set to receive direct payments worth $1,500 - here is the exact date. Several states have passed relief payments for residents amid inflation- with Colorado already having sent over 2.4million tax rebate checks this month. 1Over 2.4 million checks have been sent out in ColoradoCredit: Getty States are hoping to offset the financial impact of inflation through rebates or direct payments. Below we've rounded up the three payment deadlines on September 30, as well as a state giving out checks by the same date. 1. Colorado - $1,500 In Colorado, taxpayers will get back up to $1,500 back into their accounts in two weeks. The Colorado Cash Back program allots checks of either $750 for single taxpayers or $1,500 for married couples. Read more about rebatesMONEY MOVES Rebates of up to $1,200 already going out to millions BONUS MONEY Direct payments worth up to $325 could go out to millions of Americans You’re eligible if the following applies to you: 18 years old as of December 31, 2021 Was a Colorado resident for all of 2021...
    MILLIONS of Americans are in line to receive direct payments in two weeks - but there are important deadlines to be aware of. As inflation continues and no plans emerge of a fourth stimulus check, states and cities have passed relief payments for residents across the country. 1September 30 is the deadline for several direct paymentsCredit: Getty States are hoping to offset the financial impact of inflation through rebates or direct payments. Below we've rounded up the three payment deadlines on September 30, as well as a state giving out checks by the same date. 1. Colorado - $1,500 In Colorado, taxpayers will get back up to $1,500 back into their accounts in two weeks. The Colorado Cash Back program allots checks of either $750 for single taxpayers and $1,500 for married couples. Read more about rebatesOUTGOING CHECKS Millions receiving refunds of up to $300 NOW – see if you're eligibleBONUS MONEY Direct payments worth up to $325 could go out to millions of Americans You’re eligible if the following applies to you: 18 years old as of December...
    MILLIONS of direct payments worth up to $1,500 each have gone out to Colorado households - and more can be expected this month. The state has been sending tax rebate checks to eligible Colorado residents for the past month. 1Colorado Gov. Jared Polis is helping put money back into the hands of his residentsCredit: AP To receive the money this summer, Colorado residents had to file their state income tax return by June 30, 2022. Individual tax filers can receive a check for $750, while joint filers get $1,500. Residents who met the June deadline can expect to see their checks by September 30, 2022. However, if they filed for an extension they have until October 17, 2022, to file their state income tax return. Read More on Tax RebatesMORE MONEY New rebate payment worth up to $750 to help families 'catch up on bills'pay back Thousands of Americans to get brand new $300 checks - see official release date Residents filing their taxes with an extension will receive their checks by January 31, 2023. The Colorado Department of...
    Though he will now caucus with the Democrats, Priola asserted he will not change how he votes on legislation and that his positions on abortion, gun rights, and school choice "run counter to the Democratic Party platform." Even so, with one fewer lawmaker in their conference, Colorado Republicans face an uphill battle to recapture the state Senate majority, which Democrats now hold by four seats. Priola said he will campaign for Democrats to retain control of the state legislature this November. "Even if there will continue to be issues that I disagree with the Democratic Party on, there is too much at stake right now for Republicans to be in charge," Priola said. "Coloradans cannot afford their leaders to give credence to election conspiracies and climate denialism. Simply put, we need Democrats in charge because our planet and our democracy depend on it." Though Democrats had sought to defeat Priola in 2020, he was welcomed into their fold on Monday. "We are a broad tent party, always seeking good ideas from the left and right to...
    MILLIONS of Americans are in line to receive payments next month. With no signs of a fourth stimulus check, states and cities have passed legislation for relief including tax holidays, direct payments, and other types of stimulus. 1Millions of Americans have been receiving inflation relief this past year The cash will come in the form of rebates or direct payments as many states try to offset the financial impact of inflation. The most recent inflation rate of 8.5% in the year to July was announced by the US Bureau of Labor Statistics on Wednesday. The cost of shelter has risen 5.7% over the past year. Food prices have increased by 8.5% during the year. Read More on Direct PaymentsCASH OUT Important details for August & September as states give relief cash to millionsstim win Millions to get $200 in relief checks - exact date to check your account However, there was some relief at the pump as gas prices started to fall. According to AAA, the national price for an average gallon of gas stood at $4.01 as of August...
    (CNN)Buying diapers and feminine hygiene products is about to get just a little bit easier for Coloradans.HB22-1055, also known as the Sales Tax Exemption Essential Hygiene Products Act, went into effect on Wednesday."From now on in Colorado, there will no longer be state sales tax on diapers and feminine hygiene products," said Gov. Jared Polis in a news release. "This new bi-partisan law finally ends the sales tax on diapers and feminine hygiene products permanently and starts saving people money on these necessary products."This Texas teacher is helping make her students menstrual cycles a little easierLauren Casteel, CEO of the Women's Foundation of Colorado, praised the legislation in the release."Every Coloradan deserves to live with dignity," said Casteel. "For far too many essential products like diapers, incontinence products, and period products are out of reach."Read More"The passage of HB22-1055," she said, "which exempts sales tax for these essential products will allow for Colorado women and their families to go to work, child care, and school while saving their family money." The law comes as part of a bundle of measures...
    Colorado has become the latest state to ditch sales tax on diapers and tampons thanks to a new law that came into force on Wednesday. Adult and baby diapers, tampons, pads, menstrual cups, sponges, sanitary napkins, and panty liners are all now tax-free in the state. The new law will save Coloradans a combined $9.1million annually, the state said. 'This new bi-partisan law finally ends the sales tax on diapers and feminine hygiene products permanently and starts saving people money on these necessary products,' Gov. Jared Polis aid in news release on Monday. The table lists the 23 out of 50 states that have granted tax breaks for diapers or tampons. Source: Fortune Individuals spend about $15 per month on period products, according to the Women's Foundation of Colorado. Diapers cost even more, with families paying around $75 a month per child. 'Eliminating the sale taxes on diapers, period, and incontinence products will help improve the affordability of these essential items in a time where inflated prices are hitting working families hard,' said state Rep. Susan Lontine, who sponsored the bill,...
    "Our law also paves the way towards destigmatizing hygiene products that millions of people rely on every day,” she added. According to the Denver Post, women and families had been using makeshift products such as grocery bags and toilet paper to avoid having to purchase more feminine items and diapers, a manifestation of what some have dubbed "period poverty." "This is actually one of the bills that’s been most requested by my constituents,” said Sen. Faith Winter of Westminster. “Especially young women across my district are seeing this as an equity piece and as a really important way to reduce stigma.” The bill is expected to save Coloradans $9.1 million a year and deny the state about $4.3 million in tax revenue. The Colorado bill does not preclude municipal taxes on feminine and incontinence products, although the cities of Denver and Aurora have already eliminated those taxes.
    (CNN)As Democrats scramble to clinch a deal on their tax and climate package, a last-minute demand is coming from key vote Sen. Kyrsten Sinema of Arizona: $5 billion to help the Southwest deal with its multi-year drought.Sen. Brian Schatz, a Democrat from Hawaii, confirmed to CNN that Sinema is seeking $5 billion worth of drought resilience funding. Sen. Alex Padilla, a California Democrat, said he's "aware of the request." Sinema raises concerns about proposed tax in Democrats bill as lobbying intensifies for her vote"I'm looking forward to details, I do welcome the additional resources for drought resilience," Padilla told CNN. A senior Democratic source told CNN they believe Democratic leaders will accommodate Sinema's concerns, as well as her request to drop a $14 billion carried interest tax provision from the bill.Sinema's office did not respond to CNN's questions about the drought request. Read MoreMore funding for drought resilience was also written into the Bipartisan Infrastructure Law, which Biden signed in November and Sinema played a key role in crafting. The bipartisan bill included $8.3 billion for water infrastructure programs and...
    MILLIONS of households will receive direct payments of up to $1,500 this summer - and most are landing in the coming weeks. Though technically not stimulus checks, plenty of states are distributing extra cash to Americans this summer. 1Colorado Governor Jared Polis looks forward to the people of his state receiving some necessary cashCredit: Getty Images - Getty In Colorado, residents can expect tax rebates of $750 per person in the mail, provided they've filed their 2021 taxes. The Colorado rebate checks will be funded by taxes collected by the state that went over the cap set by the Taxpayer Bill of Rights, also known as TABOR. The law means the state can't spend more taxpayer money than it generates, so the surplus goes back to residents. During a Wednesday press conference, Colorado governor Jared Polis estimated the “vast majority” of Coloradans will get a check by the end of next week or the week after, reports The Denver Post. Read More on Stimulus ChecksTAKE NOTE Unsure if you’re owed stimulus payments? How to find outCASH IN Time is running...
    MILLIONS of residents in Colorado will be getting back up to $1,500 in days thanks to tax laws in the state. The Colorado Department of Revenue will start sending out 2.4million checks on August 1. 1Colorado residents will get up to $1,500 in a tax rebate Individual taxpayers will get $750 while joint filers will get $1,500. The Taxpayer Bill Of Rights in the state says Colorado can't spend more taxpayer money than it generates, so the surplus goes back to residents. Governor Jared Polis signed a bill earlier this year that gives an even amount to each taxpayer rather than a proportional refund. This bill also requires the state to start sending out checks on August 1, rather than in the spring of 2023. Read more on ColoradoCHILD SUPPORT The 13 states offering direct payments to parents worth up to $1,000CRUCIAL EVIDENCE Chilling potential murder weapon that JonBenét's family want DNA tested State officials believe all the payments will be received by September 30. Who is eligible? To get the payment, residents must have been 18 years old on...
    DENVER (CBS4) – Most Colorado voters chose Heidi Ganahl over Greg Lopez to face Democratic incumbent Gov. Jared Polis in the November general election. Ganahl secured more than 53% of the vote. Ganahl recently sat down with CBS4 Political Specialist Shaun Boyd. She said she plans to reign in spending and – not just lower taxes – but eliminate the state income tax altogether. It comprises 68% of General Fund revenue a third of the budget. LINK: Colorado Primary Results (credit: CBS) Ganahl also plans to cut the gas tax in half, and move transportation dollars from climate projects to road projects. While she believes humans contribute to climate change, she says, “I think we’re going too far too fast on green energy policies. A lot of legislation and regulation is killing the ability of our industries to flourish and families to pay for gas.”
    DENVER (CBS4)– Knocking doors in 90-degree heat, Heidi Ganahl is leaving it all on the field in her bid to become the Republican nominee for governor. Those who know her, she says, know better than to underestimate her. (credit: CBS) “I’ve been told all my life can’t do things whether building Camp Bow after losing my husband in a plane crash or… surviving a brain tumor just under 2 years ago, I’m always told too big, too hard, can’t do this. I was told that in the regent race in 2016.” Today, Ganahl is the only Republican in Colorado to win a statewide race in six years. As governor, she says she’ll reign in spending and – not just lower taxes – but eliminate the state income tax altogether. It comprises 68% of General Fund revenue a third of the budget. “It’s doable,” Ganahl says of her plan. “Nine other states have gone to zero income tax. I plan to take Colorado there too.” She says she’ll cut fraud, waste, and abuse and attract new business to make up the...
    By Kerry O’Connor (CBS4)– President Joe Biden is calling on Congress to suspend federal gasoline and diesel taxes for three months. It is in the hope to save people money at the pump as gas prices continue to hit daily record highs. (credit: CBS) A CBS News article states the president is also urging states to suspend their own gas taxes that add an average 30 cents on the gallon. As of June 22, Colorado’s average price at the pump is $4.91 while the national average is $4.95. Gov. Jared Polis says he commends the President’s action to provide relief and save people money. Polis has already signed off on a landmark transportation funding bill that slightly cuts taxes on gas in Colorado and saves people roughly two cents per gallon of gas. Polis said in a statement regarding the federal gas tax holiday, “This should fly through Congress and I would dare anyone to oppose suspending a 22-cent tax for three months that will provide some immediately relief at the pump.”
    DENVER (CBS4)– The Colorado Cashback Plan that gives Colorado taxpayers a little relief will give them even more. That bill was signed into law by Gov. Jared Polis last month. (credit: CBS) The checks that will be distributed later this year are a little larger than first expected. Under the plan, individuals will receive $750 each and couples will get $1,500. That was initially supposed to be $400 and $800 respectively. That rebate is larger than first anticipated because Colorado’s economy grew during the month of May. The unemployment rate continued to fall in Colorado to 3.5% in May, mostly led by gains in the food and accommodation sectors. (credit: CBS) Anyone who filed taxes for 2021 will receive a rebate. “Today’s forecast shows that our economy is making a bold recovery with unemployment rates falling to pre-pandemic levels, nearly all sectors thriving, and Colorado’s employment gains outpacing the nation,” said JBC Chair Rep. Julie McCluskie, D-Dillon in a statement. “I’m proud of the fiscally responsible decisions we made to power the Colorado comeback and position our state to compete....
    DENVER (CBS4) – The average price of gas in Colorado increased 78 cents in just the past month. AAA reports the current average in Colorado is almost $4.92 per gallon. It’s a record-breaking high. “When we look at what’s causing these high prices, we’ve got a lot of structural problems related to supply and then we’ve also got high demand,” said Skyler McKinley, AAA Regional Director of Public Affairs. (credit: CBS) According to GasBuddy.com the cheapest gas in the Denver metro area right now is $4.56 per gallon. “You have a ton of pent up demand from years of the pandemic. Folks finally believing it’s now safe to travel,” said McKinley. “Despite paying $5 a gallon, and many drivers saying they we’re going to change behavior, they’re not. They’re still taking road trips. They’re still getting on airplanes and cruise ships.” President Joe Biden told reporters Monday that he’s still considering a pause on the federal gas. This could save Americans about 18 cents per gallon. He also said a gas rebate card for Americans is still a possibility. The...
    COLORADO taxpayers have just two weeks left to receive up to $1,000 stimulus checks. Colorado Governor Jared Polis reminded residents earlier this week to file their state taxes by June 30, in order to receive the refunds on time. 1Colorado residents who file before June 30th will get over $500 or $1000Credit: Getty The payments come in the form of tax rebates as a way to help neutralize the impact of inflation.   “I urge all Coloradans to complete their state tax filing right away so you can get the Colorado Cashback Rebate on time this summer," said Mr Polis. "If you wait past June 30th or until the final extension deadline of mid-October, then you probably won’t get your refund until next January,” he added. The deadline to claim was originally May 31 but was extended by the state legislator. How to claim The Colorado Cashback will provide single filers with $500 checks and joint filers can get up to $1,000. To receive the refund in August, full-year residents must either file a Colorado individual income tax return for the 2021 tax year....
    DENVER (AP) – A Colorado state audit has found that regulators failed to perform exhaustive background checks on 35 sports betting operators currently operating under temporary licenses. It also found discrepancies between some operators’ reports of wagers and their tax filings on those wagers, possibly costing the state tax revenue. (credit: CBS) The audit released this week covers the first full year of legalized sports betting in Colorado, which was approved by voters in 2019. Auditors recommended that regulators complete a regulatory framework for their investigations of operators and improve monitoring of the industry’s reported income and tax payments. The division agreed to all the recommendations. (© Copyright 2022 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
    MILLIONS of Americans in two states have less than a week to claim stimulus checks worth up to $800. Colorado families who file their state tax returns by May 31 will receive payments worth $400 for individuals and $800 for joint filers.  The cash back, which comes through a tax rebate, will help about 3.1million residents, Governor Jared Polis announced on April 25. The rebates aim to offset inflation, which has taken a toll on Americans' wallets.  Another tax rebate worth up to $500 will hit the bank accounts of New Mexico residents in July as a one-time tax credit from the state's economic aid packages. The package will give single or married individuals filing separately a $250 tax rebate if they make less than $75,000 a year, while married individuals are eligible for a $500 rebate if they make less than $150,000 a year. Governor Michelle Lujan Grisham announced that payments from the state's tax rebate program started going out last week to over 550,000 New Mexicans. Read our Tax Rebate live blog for the latest news and updates...
    Colorado residents who file their taxes early can expect to receive their 2023 rebate surprisingly early. The Colorado Cashback Plan, signed by Gov. Jared Polis on Monday, will give individuals within the state $500 each and couples $1,000 if they file their taxes before May 31. The expected refund is higher than the initial $400 and $800 refunds for individuals and couples that were previously announced, according to CBS Denver. “This is really important because costs have gone up," Polis said. "And we want to make sure Coloradans can hold on to more of their hard-earned money. Whether it’s gas, whether it’s groceries, this is a really important lifeline for Coloradans that will make a big difference for every Colorado family.” COLORADO GOP GUBERNATORIAL CANDIDATE CALLS FOR STATE-LEVEL ELECTORAL COLLEGE The rebate could go up even higher depending on how Colorado’s economy does in May, and anyone who filed taxes for 2021 will also receive a refund. Colorado residents will receive their checks in either August or September, with about 3.1 million people receiving...
    THERE are deadlines for cash assistance programs coming up soon that you’ll want to mark down on your calendars. One payment type is through universal basic income. 1Most of the payments are in form of UBI The other is a one-time payment, which will also require action. The upcoming deadlines come as the deadline to apply has passed for two UBI programs in Chicago and Baltimore. So it'll be important to act as soon as you can. See upcoming cash assistance initiatives with exact deadlines below and find out whether or not you qualify for them. READ MORE ON PAYMENTSPAYDAY TIME Exact dates Social Security, SSI, and SSDI are paid in May TAXING TIMES Americans still waiting on their refunds could get an extra $121 Georgia - $850 The quickest approaching deadline is in Georgia. In fact, it's tomorrow, May 17. Under the In Her Hands program, more than 650 women in the state will get $850 monthly payments for two years. You must live in Old Fourth Ward, or parts of Sweet Auburn, according to the details of the program. The rest...
    DENVER (CBS4)– A proposal would help Coloradans save money on rising property taxes in the midst of the hot housing market. That plan was unveiled Monday by Gov. Jared Polis. It would be immediate relief that would save the average Colorado homeowner $274 on property taxes. For small business owners, it would be closer to $1,200 in savings. (credit: CBS) State lawmakers are proposing this $700 million relief package to address rising home prices and give homeowners a little relief. Polis said there is more work to do, “It provides the immediate tax cuts that people need to stay in their homes and certainly allows for a discussion among all the stakeholders about what we need to do in the long term to protect Coloradans from higher property taxes because of the higher values of their homes.” This is a two-year relief package proposal that would last through 2024.
    AURORA, Colo. (CBS4) – Diapers and menstrual products will soon be sales tax free in Aurora, a first for a city in Colorado. The Aurora City Council gave final approval to the ordinance. (credit: CBS) “I am thrilled for the residents of Aurora that a majority of my colleagues supported this important tax cut for Aurora families,” Councilman Curtis Gardner said in a statement. “After passing a sales tax exemption on menstrual products last year, I think this was an important companion ordinance to recognize that dignity products like tampons and diapers are medically necessary and shouldn’t be subject to sales tax collection. Families in Aurora continue to face significant affordability challenges in light of significant increases in inflation and these exemptions are ways we can make life more affordable for our residents.” (credit: Getty Images) The ordinance takes effect June 1 and includes both infant diapers and adult incontinence products.
    AURORA, Colo. (CBS4) – Diapers could soon be tax free in Aurora, a first for a city in Colorado. There’s currently a bill making its way through the legislature that would make feminine hygiene products and diapers tax exempt state-wide, but cities will have the option to opt out if they choose. Councilmembers voted 6-4 Monday night to amend a city code, exempting diapers from sales and use tax. Councilman Curtis Gardner sponsored the ordinance, saying this could benefit the youngest and oldest residents in the city. (credit: CBS) “This is really about helping working families in our community. Not jsut families with young kids. If you read the definition of diapers in the ordinance, this would also apply to incontinence products. It will help families with young and old, which I think is really important to point out. It’s not just targeting families with babies,” said Gardner. Councilmembers in support went on to say tax-free diapers would also help residents with certain disabilities, who are often living on fixed incomes. WeeCycle, a Colorado nonprofit that helps families in need,...
    IN the early days of the pandemic, the USDA approved universal free meals at schools. Now, two years later, that federal program is set to expire on June 30. 1Approximately 90% of American schools used the USDA program to serve free lunch In Colorado, lawmakers are considering what they will do, if anything, when universal free school meals come to an end. According to The Denver Post, Colorado schools were serving an additional 1.3million lunches a month under the program. Right now, there is a push among state lawmakers to extend the universal lunch program if the USDA allows it to expire, but its future is uncertain. The estimated cost to Colorado will be about $119million a year. Read More in MoneySTAMP IT OUT Food stamp claimants are unknowingly overpaid - and they have to pay it backBIG BOOST New $350 monthly ‘family stimulus checks’ could be deposited into accounts What was the universal free lunch program? The first Covid package signed by former President Trump allowed the USDA to waive certain regulations. One result was that schools...
    On Friday’s broadcast of the Fox News Channel’s “America’s Newsroom,” Colorado Gov. Jared Polis (D) said that the federal government has to pay for spending and “We can’t keep borrowing and borrowing and borrowing. That adds inflationary pressure over time.” Polis said, “The federal government can and should do big things. States need to do the little things we can do. So, the federal government, fiscal responsibility, get rid of tariffs. I’m excited about a bill by Sen. Kelly (D-AZ) and Sen. Hassan (D-NH) to suspend the gas tax. That saves everybody 18 cents through January of next year. We are doing similar things in Colorado, reducing vehicle registration fees $11.50, avoiding payroll tax increases, reducing a fee on our gas of about 2 cents a gallon. So, these are the kinds of things that we need to do to save people money, really to help people hold on to more of their hard-earned money.” He added, “It’s a matter of fiscal responsibility. So, the key thing is, if you’re going to spend money, you’ve got to pay for it....
    DENVER (CBS4)– The shortage of child care options for parents is growing worse but a bill at the state Capitol could help thousands of Colorado families. Analysis by The Bipartisan Policy Center found up to 90,000 kids in Colorado are on waitlists for child care. (credit: CBS) State Representatives Kevin Van Winkle and Dylan Roberts have a bill that they argue could significantly reduce that number by making a simple change in the tax code. It would make non-profit child care centers exempt from property taxes regardless of whether the child care owner rents or owns the facility’s building. Right now, only non-profit child cares where providers the property get the tax break. When Katie McDonald opened Meadows Early Learning Center in Parker 6 years ago, she obtained non-profit status. She thought it would mean lower taxes that would allow for higher wages. “We wanted to make sure that the money was actually paying teachers a living wage, to take care of our teachers because if we take care of our teachers then they take care of our children,”...
    A Colorado state legislator tired of losing packages to so-called porch pirates has proposed a measure that would give residents a tax break if they install anti-theft devices at their homes. The bill, sponsored by state Rep. Alex Valdez (D), would give residents who have had packages stolen from their homes or businesses a $75 tax credit if they install a lock box or some other device meant to deter theft. Package delivery companies would also qualify for a tax break if they donate anti-theft devices to residents. Those seeking the tax credit will have to show proof that they filed a report of the theft with local law enforcement.  “What we want to do is deploy the solution where it’s needed. If you live in a remote part of the state, your likelihood of porch piracy is probably a lot lower. What we want to do is target this incentive towards areas that have seen the most incidents of porch piracy,” Valdez told The Hill. “People see that we need to do better at prevention.”  Valdez’s bill appears to...
    THOUSANDS of people affected by the Colorado wildfires are getting a bit of relief from the Internal Revenue Service (IRS). The IRS extended the 2021 tax-filing deadline for individuals and businesses affected by the fire. 1Eligible residents will have an extra month to file tax returns Fire destroyed nearly 1,000 homes in the suburbs between Denver and Boulder on December 30, 2021. Search crews are still looking for two people, while investigators are working to find what started the massive blaze which burned about 6,000 acres. Important adjusted dates Affected individuals and businesses will have until May 16, 2022 to file returns and pay any taxes. The tax relief postpones various tax filing and payment deadlines that occurred starting on December 30, 2021. This includes 2021 individual income tax returns due on April 18, as well as various 2021 business returns normally due on March 15 and April 18. It also means that affected taxpayers will have until May 16 to make 2021 IRA contributions. Most read in moneyDOOR MATT Damon Crypto ad mocked as Bitcoin, Ethereum and Shiba...
    (CBS4) – Colorado voters are deciding on three statewide measures in the off-year election, including one to raise the tax rate on reactional pot to fund afterschool programs for low-income kids. It would increase that sales tax from 15% to 20% over the next three years, ultimately generating about $138 million a year. As of 8 p.m., 54% are voting it down. (credit: CBS) That money would be combined with $20 million from the state land trust money already designated for public schools to general $158 million a year to fund those programs. There would be a new state agency with a board appointed by the governor to oversee who the money is distributed. The agency would certify tutors and programs eligible for funding.  Low-income kids would get first access to the fund to spend on tutoring, career and technical training, mental health services or enrichment programs like arts or sports. Political Specialist Shaun Boyd points to an analysis by Common Sense Institue that shows for $1,500 a year per student, the program could provide two and a half hours...
    (CBS4) – Colorado voters are deciding three statewide issues in the off-year election. Proposition 120 would lower property tax rates in the state. It was written to drop the residential property tax rate to 6.5% and the commercial rate to 26.4%. As of 8 p.m., 57% of voters are rejecting it. (credit: CBS) Some state lawmakers did not the changes and re-wrote the tax code in such a way the ballot measure only applies to multi-family homes like apartment buildings and lodging properties like hotels and bed and breakfasts. That’s why the wording on the ballot is different from the analysis in the blue book. Homeowners and commercial property owners would get smaller, temporary tax reductions for two years. Supporters say if the measure passes they will sue to make sure the ballot language is upheld. Political Specialist Shaun Boyd says legal precedent is on their side. LINKS: Denver Election Results | Colorado Secretary of State Election Results
    (CBS4) – On Nov. 2, voters across Colorado will consider local questions and candidates. 125 municipal ballot questions are being considered in 88 cities and towns according to the Colorado Municipal League. CBS4 has reported on the struggle for some people to find affordable housing in the high country. And there are several cities with housing-related questions. For instance, Avon has a question about whether excise tax on the leasing of short-term rental unites should fund community housing. Basalt has a question about an $18 million in debt authority to fund affordable housing, infrastructure improvements and green projects, to be paid for with the extension of previously approved property taxes. Proponents in Crested Butte want $8.985 million in debt authority, to be paid for with an increase of the excise tax on vacation rentals. Crested Butte has a separate question for $24 million in debt authority, to be paid for with two taxes: a sales and use tax and a Community Housing tax on undeveloped residential land and on residential units that are not a primary residence and are not...
    DENVER (CBS4)– Off-year elections tend to be sleepers. Not Colorado’s 2021 election. There are three statewide measures and more than 125 local ballot questions. One of the local initiatives is being challenged in court before the election even happens. (credit: CBS) Denver’s City Attorney has filed an eleventh-hour challenge to a question on the November ballot. Initiated Ordinance 303 would require the City to clean up homeless encampments within 72 hours. The City Attorney says because the City allocates resources among many competing priorities, it has control over the timing and manner in which it responds to citizen complaints. The City wants the Court to void the 72-hour requirement and has asked for an expedited hearing. One of the statewide ballot questions has also created controversy as well as confusion for some voters. If you read the ballot language to proposition 120, it asks if the residential property tax rate should be lowered from 7.15% to 6.5% and non-residential from 29% to 26.4%. But, if you read the blue book, it says the reductions only apply to multi-family and lodging...
    Water projects in Colorado are getting a $7.9 million boost from tax revenue collected during the first fiscal year of legalized sports betting in the state. The Colorado Limited Gaming Control Commission (CLGCC) gave its approval for $8.56 million in tax revenue to be distributed to beneficiaries, which includes the Colorado Water Plan , the Department of Revenue’s Division of Gaming said in a news release on Thursday. The distribution of funds to beneficiaries was detailed in the 2019 law that asked voters to legalize sports betting for taxation and use most of the funds for the state's water projects. Voters also approved Proposition DD in November 2020. Sports betting went into effect on May 1, 2020. Since then, sports bettors in the state have wagered over $3 billion, according to state data. Other beneficiaries of the tax revenue include the Hold Harmless Fund ($488,782), which is for entities that might see lessened revenue as a result of sports betting, the Office of Behavioral Health ($130,000), a state gambling hotline ($30,000), and problem gambling services ($100,000),...
    DENVER (CBS4)– Gov. Jared Polis and Sen. Michael Bennet are teaming up to get all eligible Colorado families signed up for the expanded child tax credit. They’re promoting a mobile app that allows families to direct file a 2020 simplified tax return in order to receive the benefits. (Photo by PHILIPPE HUGUEN/AFP/Getty Images) The tax credit went into effect in July. Parents can expect to receive $3,600 for children under the age of six and $3,000 for children 6-17. Half of the money will be paid out over six months and the other half will be a claim made on tax returns. In addition to the child tax credit, Polis signed legislation that adds a refundable state child tax credit of up to $1,080 per child. Eligible residents may claim it when filing 2022 taxes in 2023.
    AURORA, Colo. (CBS4) – If you have a kid under age 17, chances are you are eligible for the new child tax credit. Starting Thursday, parents will receive up to $300 a month for each child under the age of 6 and $250 for kids 6 to 17 every month. The exact amount depends on your household income and family size. It’s expected to cut childhood poverty in half because, unlike the previous child tax credit, it will benefit the poorest families – those who don’t make enough to file a tax return. READ MORE: New Return-To-Terminal Route Opens At Denver International Airport (credit: CBS) Right now, they don’t qualify for a tax credit. There are 350,000 kids in Colorado whose parents don’t file returns. In all, a million Colorado kids will benefit from the new child tax credit or 96% of all families here. While critics say it will de-incentivize parents to work, supporters say it will do the opposite by making childcare more affordable. At Creative Learning Academy in Aurora, 80% of families qualify for state childcare subsidies,...
    DENVER (CBS4) – Colorado’s U.S. Sen. Michael Bennet answered some questions about the newly-expanded Child Tax Credit. Bennet was behind the legislation which is part of the American Rescue Plan Ace. He says 90% of Colorado children will benefit. READ MORE: Ronald Troyke, Arvada Police Shooting Suspect, Ambushed Officer Gordon Beesley (credit: CBS) Single parents with incomes of up to $75,500 and married couples with incomes of up to $150,000 will receive a $3,600 tax credit per child for children under age 6 and a $3,000 tax credit for children 6 to 18 years old. The money will be paid out monthly and is expected to lift 57,000 kids in Colorado out of poverty and cut the national child poverty rate by nearly 50%. READ MORE: FBI Searches Platte River In Connection With Littleton Bowling Alley Triple Murder From 2002 “This means direct monthly help to cover groceries, for a college fund, maybe even a summer camp, and we want to make sure everyone eligible for the monthly benefits receives them,” said Bennet. Critics say the money will disincentive work. MORE...
    DENVER (CBS4) – Coloradans could see tax cuts and a refund next year as the state’s economy continues to rebound from the COVID-19 pandemic. The Office of State Planning and Budgeting released its June economic outlook on Friday showing stronger-than-expected growth. (credit: CBS) Analysts say consumer spending is up as more Coloradans get vaccinated against COVID-19. The Colorado General Fund revenue is projected to increase by 12.1% in Fiscal Year 2020-2021, according to the report. If the results continue through June, Gov. Jared Polis said every Coloradan will get a tax cut next year and the income tax will be reduced from 4.58% to 4.5%. In addition, Polis said every Coloradan could get a tax refund, most likely between $30-$120. “While some Coloradans are still facing challenges created by the global pandemic, today’s figures show that the Colorado comeback is well underway,” said Polis. “I look forward to formally announcing the expected tax cut and tax refunds this Fall.” Economic projections released Wednesday by the Federal Reserve show GDP and inflation rising higher than expected in 2021. Analysts in Colorado...
    Bills passed during Colorado’s 2021 legislative session could result in up to a $617 million a year increase in taxes and fees depending on revenue estimates, according to a think tank analysis. The libertarian-leaning Independence Institute noted that the increases come without voter consent under the state’s Taxpayer’s Bill of Rights (TABOR), which requires voter approval for all tax increases. Ben Murrey, the think tank’s fiscal policy director, calculated that the taxes and fees result in a $430 average increase in expenses each year for a four-person family in the state. While not all the bills have been signed into law yet, the General Assembly passed 83 bills that will increase the state’s revenue before concluding its session last week, according to the analysis, with 45 of the bills including revenue projections. “Total new revenue raised under these bills, if signed into law, would amount to between $579 million and $617.3 million in FY2022-23,” Murrey wrote. Murrey said lawmakers evaded TABOR with legislation raising the state’s revenue. Republican lawmakers and conservative taxpayer watchdogs have long argued that Democrats have avoided...
    DENVER (CBS4)– The state Legislature has wrapped up the 2021 session and the Colorado comeback from the pandemic was a top priority for lawmakers. They approved nearly $126 million in loans, grants and sales tax relief for small businesses, $136 million in workforce development and student scholarships, $150 million to increase childcare, and $500 million for affordable housing. (credit: iStock/Getty Images) The legislature passed more major pieces of legislation this year than any in recent memory, making sweeping changes that will impact everyone in the state in some way. READ MORE: Caught On Camera: Suspect Accused Of Stealing $3,000 Worth Of Tools In Golden With control of both chambers, Democrats pushed through a bold agenda. On health care, they created a state-controlled insurance plan to lower premiums 15%, and a board to review and cap prescription drug costs. On the environment, they banned plastic bags and assessed a fee on greenhouse gas emissions. And on immigration, they gave non-citizens access to public benefits. Among the most controversial bills was a $5.4 billion transportation funding measure that creates fees on everything...
    Colorado’s Senate passed legislation on Monday that would reduce residential and commercial property taxes. Senate Bill 21-293, which was introduced just last week, would lower property taxes for single-family and multifamily housing units, renewable energy properties, and agricultural land over the next two years. If passed, the bill would drop assessment rates for single-family and multifamily homes to 6.95% from 7.15%. Commercial properties would be taxed at a 26.4% rate rather than a 29% rate as well. It would also expand the state’s property tax deferment system. This provision would allow property owners to defer up to $10,000 of property taxes incurred within the next two tax years until they sell their home. The bill’s sponsors say that the legislation will help hardworking families who may be surprised by huge property tax bills because of Colorado’s rapidly increasing home values. “Property values are rising across Colorado, and it’s imperative that we act this session to mitigate the impact for hardworking families,” Sen. Chris Hansen, D-Denver, said in a statement. “This bill will reduce certain property tax rates over the next...
    Colorado lawmakers on Tuesday passed a bill that would ban the use of styrofoam and tax single-use plastics in most cases, sending the bill to the desk of Democratic Gov. Jared PolisJared Schutz PolisColorado to offer ,000 scholarships for young people to get vaccinated Supreme Court justice denies Colorado churches' challenge to lockdown authority Colorado governor signs law banning state-supported colleges from considering legacies in admissions MORE, The Colorado Sun reports. House Bill 1162 will generally prohibit the use of single-use plastic bags, except in certain situations, when each bag will cost the consumer a minimum of 10 cents. Businesses allowed to continue using such products include restaurants that prepare or serve food in individual portions or stores that have just three or fewer locations in Colorado.  Once the ban goes into effect, businesses are permitted to use their remaining stock for a few months without penalty. Businesses may keep 40 percent of proceeds from the bag tax, and are required to relinquish the other 60 percent to the municipality or county they're located in. The bill also bans styrofoam products from...
    A bipartisan group of Colorado lawmakers are making a last-ditch effort to lower residential property tax assessment rates and help Coloradans ward off larger tax hikes this year. If enacted, Senate Bill 21-293 would allow property owners to defer paying additional taxes under limited circumstances. It would also lump multi-family properties in with single-family properties under the state’s assessment rates to help moderate increasing rent prices. The bill was introduced on Wednesday and has the bipartisan support of Sens. Chris Hansen, D-Denver, and Bob Rankin, R-Carbondale, and Rep. Daneya Esgar, D-Pueblo. “Since income doesn’t go up automatically with home value, without action these increased taxes could force some people out of their long term homes,” Gov. Jared Polis said in a statement on Facebook. Under the proposal, any person who receives a property tax assessment that is above the state’s tax-growth cap beginning in January 2023 could defer the portion of that exceeds the cap until the home is sold. Homeowners who wish to defer would have to file a claim in the county in...
    Colorado’s Supreme Court ruled on Monday that local school districts may recover the millions of dollars in lost revenue they suffered because of the COVID-19 pandemic. The ruling is a direct response to House Bill 21-1164, which would correct guidance from the state education department to reduce property tax mill levies that support public schools. It also corrects this guidance to restore the levies to their voter-approved levels. HB21-1162 is sponsored by Sens. Rachel Zenzinger, D-Arvada, and Stephen Fenberg, D-Boulder, and Reps. Daneya Esgar, D-Pueblo, and Alec Garnett, D-Denver. “I’m thrilled to see that the Supreme Court has affirmed the legislature’s fix to our unequal, unfair school funding structure,” Majority Leader Fenberg said in a statement. “Today’s decision will have profound impacts on our education system, finally giving Colorado the opportunity to build an equitable revenue system that can provide adequate funding for all students – no matter where they live.” Public and charter K-12 schools in Colorado are constitutionally required to be funded by the state Legislature. However, additional provisions in the Taxpayer Bill of Rights (TABOR) place limits...
    DENVER (CBS4) – State senators passed a $5.2 billion infrastructure bill on Monday. It now heads to the House of Representatives. Under the bill, the state would increase its efforts electric vehicle charging infrastructure and expand multi-modal and transit options. The goals would be to reduce congestion and improve air quality. READ MORE: Coloradans Over 60 Will Outnumber Those Under 18 in 2 Years, Bill Aims To Increase Number Of Geriatricians The measure calls for fees to be placed on a variety of deliveries, from online retailers to pizza. Fees will also be added to gas. File photo of traffic in Colorado’s high country. (credit: CBS) Opponents are working on a ballot measure which would essentially void those fees. READ MORE: Denver Police: Cedric Vick Was Shot And Killed After Carjacking, Chase And Crash “It’s like a feeding frenzy down here with all the dollars going around, and we can’t find money for transportation,” said Sen. Barb Kirkmeyer who opposes the bill. “We have to go out and ask for a tax or fee whichever you want to call it?” She...
    DENVER (CBS4) – Opponents of a $5.3 billion transportation funding bill are taking their fight to the ballot. The bill includes $1.5 billion in general fund and stimulus dollars and $3.8 billion in new fees. (credit: CBS) The fees would index each year to inflation. The enterprises that oversee the fees could also raise them at any point. They include a fee on gas, which starts at 2 cents in 2024 and increases to 8 cents over the next decade. There’s a 30-cent fee on ride share services, like Uber and Lyft, a 27-cent fee on deliveries, including food and Amazon purchases, a car rental fee, and a fee on electric vehicles. Most of the money generated by the bill goes to roads and bridges. There’s also a sizeable investment in electric vehicles, with subsidies for electric cars, trucks, buses and charging stations. The remainder of the money goes to multimodal projects, air pollution mitigation, and front range rail service. (credit: CBS) Opponents say the bill is as much about climate change as it is about transportation. Jesse Mallory with...
    (CBS4) – Sen. Michael Bennet hosted a virtual town hall on Friday to discuss the Child Tax Credit expansion included in the American Rescue Plan signed by President Joe Biden. The tax credits are approved for one year, but Bennet hopes Congress will see the benefit and make them permanent. “This is a historic step forward, and it’s going to make a massive difference in the lives of kids and families here in Colorado and across the country. Our job now is to make the changes permanent,” Bennet explained. Sen. Michael Bennet (credit: CBS) Single parents with incomes of up to $75,500 and married couples with incomes of up to $150,000 will receive a $3,600 tax credit per child for children under age 6 and a $3,000 tax credit for children 6 to 18 years old. The money will be paid out monthly and is expected to lift 57,000 kids in Colorado out of poverty and cut the national child poverty rate by nearly 50%. While critics say the money will disincentive work, Bennet believes it will do the opposite...
    (CBS4) – Starting this summer, almost every family in Colorado will receive monthly checks of at least $250 for a year. You can thank Sen. Michael Bennet. A child tax credit bill Colorado’s senior senator introduced 5 years ago was included in the American Recovery Act that President Biden just signed into law. Sen. Michael Bennet (credit: CBS) Single parents with incomes of up to $75,500 and married couples with incomes of up to $150,000 will receive a $3,600 tax credit per child for children under age 6 and a $3,000 tax credit for children 6 to 18 years old. The money will be paid out monthly and is expected to lift 57,000 kids in Colorado out of poverty and cut the national child poverty rate by nearly 50%. READ MORE: DA: Denver Broncos Melvin Gordons DUI Blood Test Obtained On False Premise Kelly Shanley is among those who will benefit most. She’s a single mom with two kids who struggles to make ends meet. “I want my kids to be able to have things as little as, you know,...
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