Colorado Income Tax Update

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Presentation transcript:

Colorado Income Tax Update New for Tax Year 2018 Steve Asbell Colorado Department of Revenue

Subtractions From Income No new subtractions for TY2018 on Form 104AD.

Credits The low income child care credit is back for 2018. Twenty-five percent of qualified amounts up to $500 for one child or $1000 for two or more children.

Issues Refunds may be switched over from direct deposit to paper checks. Fraud prevention measures. Taxslayer supports the DR 1366 for TY2018. Federal changes did not result in Colorado changes to offset.

Property Tax Credit The PTC income limits for TY 2018 are $14,074 for single and $18,972 for joint. Cannot be filed through tax software, but can be filed online through Revenue Online.

Contact Information Steve Asbell Taxpayer Service Division Ph: 303-866-3889 Email: stephen.asbell@state.co.us Efile reject questions Refund inquiries: 303-238-7378 or Revenue Online