Colorado Politics

Campaign to raise awareness of new income tax refund option

A campaign dubbed “ReFUND CO” is making Colorado residents aware that they can donate their income tax refund to a registered nonprofit, of which there are over 7,750.

“Imagine if state taxpayers chose to donate just a portion of their refunds; this outpouring of support would boost local community causes across Colorado and make a massive positive impact on our state,” the campaign, a project of the Colorado Nonprofit Association, wrote on its website.

Taxpayers should look for the suggestion to “Donate to a Colorado Nonprofit” written on their tax return or included in their tax software. They must then write the registration number of the organization to which they wish to donate.

The program came about through Senate Bill 18-141, and 2019 is the first tax year in which it applies. Under the law, contributions made to charities will be slightly reduced to account for the administration of the program by the Department of Revenue, secretary of state and state treasurer. If the department does not receive enough funding to cover its costs by Sept. 30 of this year, the program will end.

A taxpayer does not have to give away the entirety of a refund, but nonprofits must have been registered under the Colorado Charitable Solicitations Act for the past five years to be eligible to receive the donations.

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(Photo by Zephyr18, iStock)
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