Claim Up to $1,044 From PTC Rebates Before It’s Too Late! Here’s How

Time is running out for eligible Americans to seize the opportunity to receive cash worth up to $1,044 from the PTC rebate program.

The deadline for application submission is rapidly approaching. If you want to take advantage of this PTC rebate program, act now before it’s too late! (Photo: US SUN)

Claim Up to $1,044 in PTC Rebates

Colorado is set to distribute relief through its annual Property Tax, Rent, and Heat Credit Rebate or commonly called PTC Rebate.

Earlier this year, Colorado already disbursed the first batch of payments to applicants whose submissions were processed and approved before March 10, the U.S. Sun reported. The state has allocated a staggering $7 million to provide relief to eligible residents through the PTC rebate program in 2023.

However, a new deadline looms, and time is of the essence.

PTC Rebate Eligibility

To ensure your eligibility for the PTC rebate, you must submit your application and have it processed by Saturday, June 10.

Those who complete these steps within the stipulated timeframe will receive their rebates on either July 5 or July 15, depending on their preferred payment method.

It’s important to note that even if you file before the deadline, there’s no guarantee that your application will be processed in time. However, fear not, as you can still receive your benefit at a later date.

To increase your chances of securing the rebate, it is advisable to fill out the application as soon as possible.

Before applying, familiarize yourself with the eligibility requirements. For single filers, the total income must not exceed $16,925, while for married couples filing jointly, the limit is $22,858.

Additionally, you must meet one of the following criteria:

1. Age 65 or older.
2. A surviving spouse, age 58 or older (please note that if you were divorced before your spouse passed away, you do not qualify for this category).
3. Disabled person of any age who was unable to engage in any substantial gainful activity due to medical reasons.
4. Paid property tax, rent, or heating bills during the PTC period.
5. Not claimed as a dependent on someone else’s federal income tax return.

If you meet these eligibility criteria and haven’t yet applied, you can submit your application online through the Colorado Department of Revenue.

However, please be aware that the service will be temporarily unavailable for maintenance until Sunday at 11 p.m. Therefore, make sure to file your application afterward.

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PTC Rebate Payment Schedule

To provide clarity on payment scheduling and the PTC rebate process, here is a breakdown of the remaining schedule for the year based on your payment method and the timing of your processed application:

• Applications processed before September 10:
  • Direct deposit date: October 5
  • Paper check date: October 15
• Applications processed before December 10:
  • Direct deposit date: January 5
  • Paper check date: January 15
• Applications processed before December 31:
  • Direct deposit date: 10 weeks after receipt
  • Paper check date: 12 weeks after receipt

Furthermore, it’s important to understand that the PTC rebate is paid out in installments. For instance, if your application gets approved by June 10 and you are entitled to the maximum amount of $1,044, your first benefit installment in July would amount to $348.

Submit your application before the deadline to maximize your chances of receiving the PTC rebate.

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