When Can I E-File My Colorado Taxes?
The Colorado Department of Revenue offers taxpayers several electronic filing options. For individual users who wish to e-file, its NetFile system handles personal income taxes. Businesses may also e-file corporate taxes and sales tax receipts using different systems set up by the Department of Revenue. About half of all individual filers in Colorado use the NetFile system as of 2010, according to the state.
Other People Are Reading
-
NetFile - Individual Income Taxes
-
NetFile is the Colorado Department of Revenue's equivalent of the Internal Revenue Service's e-file system. Taxpayers may file income taxes on NetFile 24 hours a day, and may begin filing their tax returns for the current tax year after Jan. 1 and when they receive tax information from employers, companies they contracted with and banks that maintain interest-bearing accounts. Taxpayers who failed to file a prior year's returns with the state may also use NetFile to file returns for tax years that date back to 2009. Earlier returns must be filed manually.
Corporate and Partnership Income Taxes
-
Similar to deadlines for NetFile returns, corporations and partnerships may begin to file their current tax year returns as soon as they collect their materials. Unlike the system used to collect returns for individual income taxes, the Colorado Department of Revenue doesn't maintain a proprietary online system for corporate tax filing. Instead, corporations who choose to electronically file their income taxes must prepare them using a software system approved by the Colorado Department of Revenue. As of Jan. 12, 2010, three software packages, ProSystem, Ultra Tax CS and GoSystem are authorized to submit corporate taxes electronically.
-
Sales Taxes
-
Companies that collect sales taxes may be eligible to make sales-tax payments online through the Colorado Department of Revenue's website. To qualify, a business must have filed sales tax returns on paper at least one time in the past. Retailers may make payments on sales taxes due until 4 p.m. Mountain Time through the CDR system on the due date printed on the sales-tax coupon book provided by the department. Payments may be made using electronic funds transfer or through an electronic check.
Advantages of Electronic Filing
-
Because tax returns filed electronically do not require manpower to sort and analyze, taxpayers who file their income taxes electronically may receive a refund faster if they're entitled one. Payments made are processed instantly as well, allowing sales taxes to be paid on the final day they're due in the tax period. All forms of electronic tax filing, save corporate taxes that require third-party software, are provided to taxpayers free of charge.
-
References
Resources
- Photo Credit computer image by fotografiche.eu from Fotolia.com
