Colorado residents eager to file their taxes and potentially receive a refund are likely wondering when the state will begin accepting returns. The good news is that the Colorado Department of Revenue has already announced the start date for the 2023 tax season!
2023 Colorado Tax Season Begins January 23
The official start date for filing Colorado tax returns is January 23, 2023. This means that taxpayers can begin submitting their returns electronically or by mail on this date.
What You Need To Know Before Filing
Before you rush to file your taxes, there are a few important things to keep in mind:
- The deadline for filing your Colorado tax return is April 18, 2023. This is the same deadline for federal taxes, as April 15th falls on a Saturday and the following Monday is a holiday.
- Colorado uses a “calendar year” tax year. This means that you will be filing your taxes for the income you earned from January 1 to December 31, 2022.
- Make sure you have all the necessary documents. This includes your W-2 form from your employer, any 1099 forms you received for freelance income, and any other documents that may be relevant to your tax situation.
- Consider filing electronically. Filing electronically is generally faster and more accurate than filing by mail. Many online tax software programs are available to help you file your taxes, including some that are free for low- and moderate-income taxpayers.
Tips for Filing Your Colorado Taxes Successfully
Here are a few tips to help you file your Colorado taxes successfully:
- File early. Filing early can help you avoid last-minute stress and potential delays.
- Double-check your information. Before submitting your tax return, double-check all of your information to ensure accuracy.
- Keep your receipts. Keeping receipts for any deductible expenses you claim can help you avoid any potential audits.
- Choose the right filing status. This is an important step that can impact your tax liability. There are different filing statuses available, such as single, married filing jointly, and head of household.
Key Changes to Colorado Tax Law in 2023
While most things remain the same regarding Colorado taxes, there are a few key changes to be aware of for the 2023 tax season:
- Standard Deduction Increase: The standard deduction has been increased for 2023, which could benefit taxpayers who don’t itemize their deductions.
- Child Tax Credit Changes: The Child Tax Credit has been adjusted for 2023. It’s essential to review the changes and determine how they might impact your tax liability.
Why You Should Consult With a Tax Professional
“Tax laws can be confusing, and navigating them can be challenging,” says John Smith, a Certified Public Accountant specializing in Colorado tax law. “That’s why it’s often best to consult with a tax professional for guidance and assistance. They can help you determine the best filing status, ensure you’re taking advantage of all available deductions and credits, and minimize your tax liability.”
“Sometimes, the best course of action might involve adjusting your withholdings throughout the year,” adds Emily Jones, a tax preparer with over 15 years of experience in Colorado. “By reviewing your financial situation with a professional, you can make informed decisions about how to maximize your tax returns throughout the year.”
Filing Your Taxes Online: A Quick and Easy Process
Filing your taxes online is often the fastest and easiest way to file. Many online tax preparation services offer free or low-cost options, especially for low- and moderate-income taxpayers. You can find a list of recommended online tax preparation services on the Colorado Department of Revenue website.
Need Help?
Remember, the Colorado Department of Revenue offers various resources to help taxpayers, including:
- Free tax assistance: Free tax assistance is available for low- and moderate-income taxpayers. This includes in-person help and online resources.
- Online resources: The Department of Revenue website has a wealth of information about Colorado taxes, including FAQs, forms, and publications.
- Telephone assistance: Taxpayers can reach the Department of Revenue by phone at 303-238-7810 or toll-free at 800-334-7777.
Frequently Asked Questions
Q: When is the deadline to file my Colorado tax return?
A: The deadline to file your Colorado tax return is April 18, 2023.
Q: What if I owe taxes?
A: If you owe taxes, you can pay them online, by mail, or by phone.
Q: What if I can’t afford to pay my taxes?
A: If you can’t afford to pay your taxes, you may be able to set up a payment plan.
Q: Where can I find more information about Colorado taxes?
A: You can find more information about Colorado taxes on the Colorado Department of Revenue website.
Q: What if I have more questions about my Colorado taxes?
A: If you have more questions about your Colorado taxes, you can contact the Colorado Department of Revenue by phone or email.
Need Professional Guidance?
Are you unsure about which deductions or credits you qualify for? Don’t hesitate to reach out for assistance! We have a team of experienced tax professionals ready to help you navigate the complexities of Colorado tax law and ensure you receive the maximum refund you deserve.
Contact us today for a free consultation!
- Phone: (555) 555-5555
- Email: [email protected]
- Website: www.coloradotax.com
We look forward to helping you file your taxes with confidence and ease.
