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Data and ReportsDepartment of Revenue - Colorado

Data and ReportsDepartment of Revenue - Colorado 2025

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The document provides instructions for calculating penalties due to underpayment of Colorado corporate estimated tax for the tax year ending. It outlines the conditions under which a penalty is assessed, the required annual payment amounts based on current and previous tax liabilities, and details on how to compute the penalty. Additionally, it includes provisions for large corporations and options for taxpayers with uneven income through an annualized installment method.

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Begin with Part 1 by entering your current year tax liability on line 1. Ensure you include any credit recapture after reducing for all credits except estimated tax and withholding payments.
Proceed to Part 2, where you will calculate the required annual payment. Enter the current year tax liability on line 4, then calculate and enter 70% of that amount on line 5.
For line 6, input the previous year's Colorado tax liability. If you did not file a return last year, use the amount from line 5.
In Part 3, compute the penalty by filling out lines 10 through 22. Start by entering each quarterly payment due date in column one of line 10.
Complete the annualized installment method schedule in Part 4 if applicable, ensuring to follow the instructions for calculating annualized taxable income and installment payments.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Why am I getting a letter from the state of Colorado Department of revenue?

While the Department is required by law to send the Notice of Deficiency or Rejection of Refund Claim letter, the main purpose of this letter is to provide you with the following information: Any adjustment made to the return you filed and the detail of that adjustment. The outstanding balance for a specified tax year.

What would I get in the mail from the Department of Revenue?

We may send you a notice or letter if: You have a balance due. Your refund has changed. We have a question about your return.

Is Colorado revenue online legit?

Revenue Online(opens in new window) is the fastest, safest and most secure means to upload requested documents. The Department may ask for the following documentation to verify your identity.

How do I contact the Colorado Department of Revenue?

Call the Taxpayer Helpline - (303) 238-7378 Taxpayer Service Representatives are available Monday through Friday, 8:00 a.m. to 4:30 p.m. MT (except on state holidays(opens in new window)). Language translation service is available over the phone.

What does it mean when you get a letter from the Department of Revenue?

A notice may reference changes to a taxpayers account, taxes owed, a payment request or a specific issue on a tax return. Taking prompt action could minimize additional interest and penalty charges. Review the information.

Is a letter from the Department of Revenue bad?

Once tax season has come and gone, the IRS starts sending out letters and notices to taxpayers. If youve received mail from the IRS, dont panic. Typically, theres no need to worry. They may just be reminding you of the balance due or asking for more information.

Is Colorado getting rid of income tax?

The bill makes the 4.25% tax rate permanent beginning with the income tax year commencing on January 1, 2025, makes any additional temporarily reduced income tax rate permanent for subsequent income tax years, and eliminates the state income tax on individuals, estates, and trusts for income tax years commencing on or

Data and ReportsDepartment of Revenue - Colorado 2025

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