DENVER (KDVR) — Gov. Jared Polis signed a bill Monday that will issue tax refunds to most Colorado taxpayers this summer instead of having residents wait until next year when they file their taxes.

According to Polis, every Coloradan who files taxes by June 30 or by their approved extension date should get an estimated $500. Those who file jointly should get an estimated $1,000.

“People are paying more for everyday items like gas, groceries, and rent through no fault of their own. Instead of the government sitting on money that Coloradans earned, we want to give everyone cashback as quick“We are providing immediate relief for hardworking Coloradans by sending rebate checks back quickly because there’s no reason the government should hold onto your hard-earned money any longer than it has to. We are helping Coloradans deal with inflation by getting people back their hard earned money this summer – at least $500 for individuals and $1000 for joint filers – to help pay for everyday items and support themselves and their families,” Polis said in an emailed release.

  1. Every full-time Colorado resident and taxpayer who files by June 30, 2022, is eligible
  2. Individuals will receive an estimated $500, and joint filers will get an estimated $1,000
  3. The check will come in the mail by Sept. 30
  4. The governor said this money will be a tax refund that residents get by Sept. 15 instead of spring 2023
  5. About 3.1 million residents will receive the payment

When the bill was initially announced, estimates were refunds of $400 for individuals and $800 for couples, they’ve already been adjusted up once and in a release announcing the bill the governor’s office said they could be increased again.

You can watch a replay of the bill signing in the FOX31 NOW player above.