TAX NEWS - January 2010

Colorado: Getting a Refund? Get it faster with Direct Deposit

No matter which filing method you choose, you can take advantage of Direct Deposit. More than half of Colorado's individual income tax refunds issued each year are through Direct Deposit.

Direct Deposit is a fast and secure alternative to receiving a refund check. Since the money is transmitted electronically directly into the taxpayer's bank account. Worries including a check lost in the mail a special trip to the bank are eliminated.

Taxpayers provide their financial institution routing number, type of account and account number through any one of the filing methods they may use. Taxpayers should make certain to provide the correct financial institution routing and account numbers. If for some reason the refund claim cannot be deposited directly into the account specified, the department will issue a paper check through the mail to the address provided on the paper or electronic form.