Tax benefits can potentially be sent directly to employees
GRAND JUNCTION, Colo. (KJCT) - With just a touch of a button, employers can now send a statement with tax benefit information to their employees.
Colorado Democrats have proposed a bill centered around making tax benefit information more accessible to working Coloradans.
Representative Mary Young said many Coloradans don’t access tax credits they’re eligible for. Many don’t know that they meet the requirements, and some feel confused about the process.
”I think the more we spread the word about this, more working, hard working families, are going to know that they might be eligible... frequently these are families that normally don’t file income taxes because they’re not required to because they don’t have to pay any income tax,” said Young.
[TAKE :VO CONTINUES]
YOUNG SAY’S THIS BILL WILL REQUIRE BUISINESSES TO SEND EMPLOYEE’S A YEARLY NOTICE ABOUT TAX CREDITS THEY ARE ELIGIBLE FOR. THIS MONEY CAN NOT BE USED BY THE STATE AND IS ONLY AVAILABLE TO THOSE WHO QUALIFY.
Copyright 2023 KJCT. All rights reserved.