Nearly all members of Colorado’s congressional delegation are again asking the Internal Revenue Service to reconsider a plan to tax state refunds.
Triggered by the Taxpayer’s Bill of Rights, Colorado’s tax refunds have never been subject to federal taxes in TABOR’s 30-year history. Any changes in the feds’ stance would apply to taxes due next year, when Coloradans can again expectThe congressional letter was led by U.S. Rep. Joe Neguse, of Lafayette, and U.S. Sen. Michael Bennet, both Democrats, with five other Democrats and two Republicans signing on. Their outcry echoed that of Gov.
“Similar to most Coloradans, deep frustration that the agency is yet again considering this change when, a mere seven months ago, we found ourselves at this same juncture,” Neguse said. “Clearly there is a disconnect in the agency. Our hope is we can resolve this once and for all so this does not continually come up every six months or so.”
According to the IRS, it is trying to provide states and taxpayers in Colorado and several other states with “additional certainty” regarding the federal tax consequences of payments made directly to residents. In 2022, several states issued direct payments, often as assistance in the fallout of the COVID-19 pandemic, and that drew the IRS’ attention. The refund Colorado issued in late summer 2022 was part of TABOR’s constitutional requirement to send back excess tax collections, though officials opted to send it earlier than usual.
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