Colorado Income Tax Extension

How to file a Colorado Tax Extension. Points to consider when to prepare extensions.

Extension Situation
Extension Suggestion
Colorado Tax Refund

Option 1: If you do not owe Colorado income taxes or expect a CO tax refund by the tax deadline, you do not have to prepare and file a CO tax extension. In case you expect a CO tax refund, you will need to file or e-File your CO tax return in order to receive your tax refund money.

Option 2: eFiled a Federal Extension? If you do not owe Colorado income taxes or expect a tax refund by the tax deadline, your accepted federal extension will be honored as a state extension, and you do not have to mail in Form DR0158-I.

Owe Colorado Taxes

Option 1: Pay all or some of your Colorado income taxes online via: Colorado Revenue Online.

Option 2: If you owe CO income taxes, you will either have to submit a CO tax return or extension by the tax deadline in order to avoid late filing penalties. You can only eFile and IRS tax extension, but not a Colorado extension. The tax extension will only avoid late filing penalties until the October deadline.
Note: Unless you pay all your Taxes or eFile your tax return by the October deadline, the late filing penalties will start again after that deadline.

Option 3: Complete Form DR0158-I, include a Check or Money Order, and mail both to the address on Form DR0158-I. Important: Even if you filed an extension, you will still need to file your CO tax return either via eFile or by paper by the October deadline.

Colorado Income Tax Calculator
Colorado Tax Deadlines
Tax Penalties
Important: If you owe Colorado and/or IRS income taxes and do not file an IRS and Colorado tax return or extension by the Tax Due Date, you will be subject to IRS and CO late filing penalties. Estimate IRS late filing, payment penalties. In addition, if you do not pay your taxes by the Tax deadline, you will be subject to late tax payment penalties. Filing an extension on time will ONLY eliminate the late filing penalties but not the late tax payment penalties. Late filing penalties are generally higher than late payment penalties, thus file something on time even if you can't pay anything on time!
Discuss your extension questions and goals with a Taxpert for free and we will guide you through the process.