Form DR-0158-I: Extension Payment for Colorado Individual Income Tax

Form DR-0158-I, also referred to as 01580-I, is used in Colorado (CO) to submit an extension payment for your individual income tax return. While the state offers a six-month automatic extension to file your return by October 15th (instead of the typical April 15th deadline), there's no extension for tax payments themselves. This form helps you avoid penalties and interest on any estimated tax owed if you can't file your return by the original due date.

Who Should Use Form DR-0158-I?

A. Taxpayers Owing Money: This form is ideal if you expect to owe Colorado income tax and want to avoid late-payment penalties and interest by submitting an estimated payment with your extension request.

B. Need More Time to File: If you require additional time to gather tax documents or complete your return, you can file Form DR-0158-I to receive the automatic extension.

How to File Form DR-0158-I?

Step 1: Download the form: You can download the latest version of Form DR-0158-I attached below.

Step 2: Complete the form: Fill in the required information, including your name, Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN), estimated tax amount, and signature.

Step 3: Calculate your estimated tax payment: Use the worksheet provided on the form or consult a tax professional to determine the estimated tax amount you owe.

Step 4: Submit your payment: Include a check or money order made payable to "Colorado Department of Revenue" along with the completed form.

Step 5: Mail your submission: Send the completed form and payment to the address provided on the form i.e: Colorado Department of Revenue, Denver, CO 80261-0008).

Do I need to file Form DR-0158-I to get an extension?

No. Colorado automatically grants a six-month extension to file your return by October 15th. However, you only need to file Form DR-0158-I if you want to make a payment along with your extension request.

How much do I need to pay with Form DR-0158-I?

You need to pay at least 90% of your estimated tax liability by the original due date of April 15th to avoid penalties and interest. Use the worksheet provided with Form DR-0158-I or consult a tax professional to determine your estimated tax liability.

What if I can't estimate my tax liability by April 15th?

If you cannot accurately estimate your tax liability by April 15th, you can still file for an extension without making a payment using Form DR-0158-I. However, you will be responsible for any penalties and interest that accrue on any unpaid taxes by the October 15th filing deadline.

How do I submit Form DR-0158-I?

A. Mail: Complete Form DR-0158-I, include your estimated tax payment (check or money order made payable to "Colorado Department of Revenue"), and mail it to: Colorado Department of Revenue Denver, Colorado 80261-0008.

Important Note: Do not send cash. Write your Social Security number or ITIN and "2024 DR 0158-I" on your check or money order. Do not staple or attach your payment to the form, simply enclose it.

Where can I find Form DR-0158-I?

You can download the latest version of Form DR-0158-I attached below.