Eligible Older Adults May Receive Hundreds Of Dollars In Refunds, Rebates
By Eileen Doherty, MS ~
Denver, Colo. – The cost of housing, taxes and utilities has Coloradoans concerned, especially older adults on fixed incomes. Older Coloradoans may qualify for hundreds of dollars in refunds and rebates depending on income.
Colorado taxpayers are eligible to receive another Tabor Refund, similar to the Colorado Cash Back. However, individuals need to apply again to receive the 2023 refund. Low income individuals earning less than $25,000 annually will receive $153 by filing the Colorado Income Tax Form DR0104.
Coloradoans over 65 can receive the $1000 Affordable Housing Income Tax Credit if they have less than $25,000 annual income. To claim the Tax Credit, if you do not have any taxable wages, file both the Colorado Income Tax Form DR0104 and DR0104CR.
Individuals earning up to $75,000 are eligible for the Affordable Housing Income Tax Credit, if they do not receive the Senior Property Tax Exemption. Individuals who make more than $25,000 per year will need to file a Federal Income Tax Form 1040, a Colorado Income Tax Form DR0104 and a DR0104CR. Individuals whose annual income is between $25,000 and $75,000 will receive a prorated income tax credit depending on adjusted gross income.
Low income individuals who make less than $16,925 per year ($22,858 for a couple) and who paid rent, heat or property taxes, can qualify a refund. To apply, you must be age 65 or disabled and file the PTC104.
Utility assistance is available through LEAP for individuals whose income is less $2880 per month ($3,766 for a couple). Individuals must pay for heat as part of the rent or to a utility company. Applications are due by April 30, 2023.
If you need forms or instructions, call 303-333-3482 or 1-855-293-6911 (toll free) or 1-866-880-4777 (Spanish) or visit www.senioranswers.org.
Eileen Doherty, MS is the Executive Director of the Colorado Gerontological Society.
This is such valuable info! Thank you very much.