SB 17-194

Senate Bill 17-194 allows the Colorado Department of Revenue more time to process income tax refunds if they suspect identity theft or other types of refund-related fraud. This means that if there's a suspicion of fraud, the department doesn't have to meet the usual deadlines for sending out refunds (14 days in January, 21 days in February, 28 days in March, and 45 days in April). The bill is now signed into law, so it will be implemented as intended. This affects taxpayers who might experience delays in receiving their refunds if fraud is suspected.

Official Summary

Current law requires the department of revenue to meet certain deadlines in sending out income tax refunds: 14 days for returns filed in January; 21 days for returns filed in February; 28 days for returns filed in March; and 45 days for returns filed in April. If these statutory deadlines are not met, a penalty and interest is added as specified in statute. Current law also identifies certain exceptions to these requirements. The bill specifies that if the department of revenue makes a determination, in good faith, that there is a suspicion of identity theft or other refund-related fraud, then the deadlines do not apply. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Votes