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Up to $1,044 worth of Property Tax, Rent, and Heat (PTC) rebates will be rolling out in Colorado. Read and find out in this article if you’re eligible for these rebates!
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Tax Rebates [Photo: Money | HowStuffWorks]
According to Xie, the application form for the PTC Rebate can be downloaded from the state’s Department of Revenue website. After filling out the form, it must then be mailed to Colorado DOR. An applicant can file online for free if they have filed for the PTC Rebate in the last two years. The tax rebates will be issued depending on when the application has been processed.
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Who is eligible for these PTC tax rebates?
An article on the Colorado Department of Revenue website says that to be eligible, an applicant must have lived in the state from January 1 to December 31 last year. A single filer’s total income must also not exceed $16,925, while joint filers must not exceed $22,858. In addition, an applicant must meet one of the following criteria. They must be 65 or older or age 58 or older if they are a surviving spouse. Regardless of age, they must be a disabled person. They must also have paid property tax, rent, or heating expenses during the PTC period. Lastly, they must not be claimed as a dependent on a federal income tax return.
Applications that are processed before March 10 will receive the tax rebates by April. Those who opted for direct deposits will receive them on April 5, while those who opted for paper checks will receive them by April 15. On the other hand, applications processed before June 10 will receive the tax rebates by July. Those who opted for direct deposits will receive them on July 5, while those who opted for paper checks will receive them by July 15. Lastly, applications that are processed before September 10 will receive the tax rebates by October. Those who opted for direct deposits will receive them on October 5, while those who opted for paper checks will receive them by October 15.
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