October 15, 2012 is the Income Tax Extension Deadline

The income tax extension due date is Monday, Oct. 15 for taxpayers who did not submit their 2011 Colorado income tax filing by the April deadline.  

THIS IS A “PAPERLESS” EXTENSION
There is no form required to ask for an extension. Taxpayers have six months (Oct. 15) to file electronically or on paper. Those who are expecting an income tax refund may file on or before Oct. 15. The extension applies only to filing the tax information; the extension does not apply to any tax owed to the state.

If a taxpayer took advantage of the extension and tax is due, at least 90 percent of the tax owed must have been paid by the April deadline to avoid penalty charges. Those who owe tax and paid less than the required 90 percent of the amount due on or before the April deadline will be charged interest and penalty on the unpaid balance.

If the payment was 90 percent or more of the amount owed, the department charges interest but no penalty as long as the 2011 income tax filing and balance owed are submitted by the Oct. 15 extension deadline. The department encourages electronic filing and payment through Revenue Online or other tax software. Forms and payments that are mailed must be postmarked by the Oct. 15 filing deadline date.