Happy fall! Avoid late filing penalties!

The final deadline for filing 2021 individual taxes when your due date was extended past April 15 is coming up.  You can avoid late filing penalties by getting your personal return filed by October 15 (Monday October 17 is the official last day to file this year).  These penalties are especially onerous to those who owe taxes as 5% per month can add to balances due plus the interest charges.  It is best if you can get the taxes paid as well to limit further penalties and interest.

Colorado has added additional incentive with the $750 per taxpayer TABOR refund of excess taxes collected by the state being sent out this year.  You must file 2021 income taxes by early October, be age 18 or more and a full year Colorado resident in 2021.  Many taxpayers are not required to file, but should try to meet this deadline just to get this refund this year.