{"id":29742,"date":"2024-01-10T09:00:00","date_gmt":"2024-01-10T16:00:00","guid":{"rendered":"https:\/\/dh.durangoherald.com\/tj\/tabor-refunds-will-remain-tax-free-this-filing-season\/"},"modified":"2024-01-10T16:00:00","modified_gmt":"2024-01-10T16:00:00","slug":"tabor-refunds-will-remain-tax-free-this-filing-season","status":"publish","type":"post","link":"https:\/\/dh.durangoherald.com\/tj\/tabor-refunds-will-remain-tax-free-this-filing-season\/","title":{"rendered":"TABOR refunds will remain tax-free this filing season"},"content":{"rendered":"<figure class=\"wp-block-image naviga-inline-image\"><img decoding=\"async\" src=\"https:\/\/imengine.public.prod.dur.navigacloud.com\/?uuid=1260b621-1cca-555f-8c2c-820297088b7e&amp;function=cover&amp;type=preview&amp;source=false&amp;width=2000\" width=\"2000\" height=\"1333\" alt=\"A sign outside the Internal Revenue Service building is seen on May 4, 2021, in Washington. The IRS has announced Jan. 29 as the official start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax deadline. (AP Photo\/Patrick Semansky, File)\" class=\"naviga-image\" loading=\"lazy\"><figcaption><span class=\"caption\">A sign outside the Internal Revenue Service building is seen on May 4, 2021, in Washington. The IRS has announced Jan. 29 as the official start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax deadline. (AP Photo\/Patrick Semansky, File)<\/span><span class=\"credit\">Patrick Semansky<\/span><\/figcaption><\/figure>\n<p>Sen. Michael Bennet confirmed in a meeting with the IRS and Gov. Jared Polis that TABOR refunds will remain tax-free this filing season, a Bennet spokesperson said.<\/p>\n<p>The IRS put out guidance in late August that would have essentially considered TABOR refunds taxable income. While the state gets revenues from different sources, the state constitution sets a limit on how much the state can keep. Funding above that amount is given back to the public.<\/p>\n<p>Colorado\u2019s elected officials were critical of the move, noting that there had been a 30-year precedent not to tax TABOR refunds.<\/p>\n<p>Polis called it absurd saying, \u201cthe IRS would cost Coloradans money and confuse people.\u201d<\/p>\n<p>A bipartisan group of congressional lawmakers, led by Rep. Joe Neguse and Bennet, wrote to IRS commissioner Daniel Werfel on Aug. 31, urging the IRS \u201cnot to abandon 30 years of precedent.\u201d<\/p>\n<p>\u201cThe IRS has never treated TABOR refunds as income subject to tax,\u201d Neguse, Bennet, Reps. Brittany Pettersen, Diana DeGette, Yadira Caraveo, Doug Lamborn, Ken Buck, and Jason Crow, and Sen. John Hickenlooper wrote. \u201cThe IRS should not change course now.\u201d<\/p>\n<p>GOP Rep. Lauren Boebert wrote her own letter to Werfel on Sept. 5, making the same argument.<\/p>\n<p>Congressional lawmakers also submitted public comment, urging the IRS not to tax TABOR refunds and arguing it is a repayment of excess tax by the state.<\/p>\n<p>\u201cIt is clear that TABOR refunds should not be considered includible in an individual\u2019s Federal gross income and therefore should not be subject to further taxation,\u201d wrote Neguse, Bennet, Hickenlooper, DeGette, Crow, Caraveo, Pettersen, Boebert and Lamborn.<\/p>\n<p>In February 2023, state lawmakers were able to avert taxation of TABOR, when the IRS said then that it may consider TABOR as federal taxable income.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A sign outside the Internal Revenue Service building is seen on May 4, 2021, in Washington. The IRS has announced Jan. 29 as the official start date of the 2024 tax season, and expects more than 128.7 million tax returns to be filed by the April 15 tax deadline. (AP Photo\/Patrick Semansky, File)Patrick Semansky Sen. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[120,28,1160],"naviga_topic":[],"class_list":["post-29742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-colorado","tag-headlines","tag-taxation"],"acf":[],"author_name":"dh_admin","_links":{"self":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/29742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/comments?post=29742"}],"version-history":[{"count":0,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/29742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media\/29743"}],"wp:attachment":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media?parent=29742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/categories?post=29742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/tags?post=29742"},{"taxonomy":"naviga_topic","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/naviga_topic?post=29742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}