Colorado

General Instructions

The Colorado Department of Revenue does not require that you file for an extension of time to file. Colorado grants an automatic extension until October 15, 2008 to file your 2007 tax return. However, Colorado does require that 90% of your tax liability be paid on or before April 15, 2008 to avoid penalties. Any remaining balance due would be subject to interest only.

Penalty and Interest Charges on Tax Owed:

Those who pay at least 90% of their tax amount due on or before April 15, 2008 will only be charged interest on the unpaid balance. Those who pay less than the required 90% will also be charged a penalty.

• An annual interest rate of 8% (six percent) is charged when the interest is self-assessed.
• An annual interest rate of 11% is charged when the interest is assessed by the CODOR.
• The late payment penalty is 5% of the balance due, plus 0.5% for each additional month the payment is late up to a maximum of 12%.

If You Owe...

Pay with check or money order:

1. Prepare a 2007 Payment Voucher for Automatic Colorado Extension for Individuals, Form DR 158-I (click here to download PDF)
2. Enclose a check or money order in the amount of the estimated tax due.
3. Mail to:
   Colorado Department of Revenue
   DENVER, CO 80261-0008

Pay by Credit Card:

Colorado accepts payment by credit card through Official Payments Corporation. Making your payment in this way automatically qualifies you for an extension of time to file your tax return until your extension deadline. You will not need to file any other forms at this time. You can do this either on the web or by telephone.

Official Payments Corporation will accept Discover/NOVUS, MasterCard, Visa or American Express card to pay your personal income taxes. There is a convenience fee for this service equal to 2.5% of the tax amount being charged. The minimum fee is $1.00.

To make your payment and receive an automatic extension of time to file, have the following information ready:

• The amount you are paying in dollars and cents
• Your social security number
• Your spouse's social security number (if applicable)
• The first four letters of your last name
• The first four letters of your spouse's last name, if different from yours
• Tax year 2007
• Your home telephone number (including area code)
• Credit card number
• Credit card expiration date (MM/YYYY)
• ZIP Code for the address where your credit card bills are sent

On the Web:

Make your payment at the Official Payments Corp. web site.

By Telephone:

Use your touch-tone phone to call toll-free (800) 272-9829. At the end of your call you will be given a confirmation number. Write down and save this confirmation number for your records

If You Do Not Owe...

If you are expecting a refund from Colorado there is nothing to be filed, an extension is automatically granted until October 15, 2008 for the filing of your 2007 tax return.

Download Extension Form(s)

Colorado

Extension for tax year 2007

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