TAX NEWS - January 2010
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Colorado: Income Tax Refunds
How soon can taxpayers receive their refund? It depends on how and when they file their return.
Most Electronic filers can expect their refunds in about seven to 14 business days because the data is transmitted directly to the Department of Revenue computer system. Electronic filing is secure and highly recommended.
Paper filers have a longer wait depending on when they file. Last year, the state issued more than 1.5 million refunds from the more than 2.1 million individual income tax returns filed. Each year almost half of state taxpayers wait until April to file. As the volume of mail coming into the Department of Revenue increases toward the end of the income tax filing season, processing time of income tax returns becomes longer. In fact, in February the department receives more than 24,700 pieces of mail each day. In April, the daily average of received mail increases to more than 49,000, with the highest volume day being the April 15th filing deadline date with more than 200,000 pieces received.
The table below shows the approximate time it takes to receive a refund based on the month filers submit their paper tax return.
Paper Returns Received in Taxpayer Receives Refund Within
January 21 days
February 28 days
March 35 days
April 75 days
If the department does not send out a refund within a specified period of time, interest will be paid on taxpayers' refund checks. However, these timelines apply only if a return is complete, correct, received by the April 15th deadline, and not under a review. If it has been four months (120 days) since you submitted your return and you have not received a letter or refund, contact Colorado Department of Revenue tax department.
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