Get Colorado Estimated

Generally, an individual or married couple filing jointly must remit Colorado estimated tax payments if their total Colorado tax liability, less withholding and credits, exceeds $1,000.

Description:1. Late Filing Penalty:This penalty is $5 or a percentage of the unpaid tax equal to 5% (whichever is greater) for each month the tax return is filed after Tax Day, plus ½% for each full or partial month the tax remains unpaid. It will not exceed a total of 12%.

That's something to keep in mind when you're wondering what is the penalty for tax evasion. For fraud and tax evasion, the tax law dictates that if you're convicted, you may be fined up to $100,000 and sent to jail for up to five years. The maximum fine for corporations is $500,000.

Penalties for Fraud and Evasion Willful attempt to evade or defeat any tax is a class 5 felony and shall be punished by a fine up to $100,000 for an individual or $500,00 for a corporation, or by both such fine and up to 3 years imprisonment, together with the costs of prosecution.

If you do not receive the 1099-G in the mail, sign up for access and log in to your account through our Revenue Online service to view the amount of last year's Colorado refund that was reported to you on Form 1099-G.

If you do not file your income tax return or make your payment on time, the Colorado DOR will assess a penalty of 5.5% of the tax due each month or partial month, up to a total of 12%. If you owe less than $100, your penalty is $5 per month. For example, if you owe $1,000, the penalty for the first month will be $55.

Tax fraud, which involves using fraudulent means to defraud a person or the public of money or anything of value, is an offence under the Criminal Code and can result in up to 14 years in prison upon conviction.

Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be fined* not more than $100,000 ($500,000 in the case of a corporation), or imprisoned ...