STATEWIDE – The Colorado Department of Revenue (CDOR) reminds taxpayers who did not submit their income tax return by the April deadline that the extension due date for Colorado’s 2016 income tax filing is Monday, Oct. 16.

This is a “paperless” extension. There is no form required to request an extension. Taxpayers have six months from the April due date to file electronically or on paper. The extension applies only to filing the tax return and does not apply to any money owed to the state.

What if I owe tax?

If you took advantage of the extension and tax is due, you must have paid at least 90 percent of the tax owed by the April deadline to avoid penalty charges. Those who owe tax and paid less than the required 90 percent of the amount due by the April deadline will be charged penalty and interest on the unpaid balance. If the payment was 90 percent or more of the amount owed, CDOR charges interest but no penalty as long as the 2016 income tax return and balance owed are submitted by the Oct. 16 extension deadline. Payments that are mailed must be postmarked by the Oct. 16 deadline.

How do I file?

• Complete the paper Colorado Form 104 and appropriate schedules first. Then enter the information into Revenue Online and submit your return. Revenue Online is CDOR’s free, one-stop site for filing taxes, managing accounts and checking refund status. Visit Revenue Online at Colorado.gov/RevenueOnline and click on “File a Return” under Quick Links.

? You do not need a Login ID and Password to file an individual return.

? Select the year you wish to file and submit the tax information.

? The system will calculate the total tax owed, plus interest and penalty. If you owe taxes, you can pay by credit card, e-check or electronic funds transfer. You may choose the amount you wish to pay and you will be billed for the remaining amount due.

• Use a tax professional or tax software of your choice to file electronically or on paper.

• If you cannot file electronically, complete the Colorado Form 104 return and appropriate schedules. Include payment by check for any tax owed. Visit Colorado.gov/Tax to access the Colorado Form 104 booklet. From the homepage, click on the Instructions/Forms tab. The website will direct you to a new page where you can select “Individual Income Tax” and find the current year’s 104 booklet and form.

What are the interest and penalty rates if I owe?

The interest rate this year is 4 percent on tax owed (7 percent if not paid within 30 days of billing). Penalty is 5 percent of the balance due for the first month past the Apr. 18 deadline, then an additional 0.5 percent for each month thereafter, up to a maximum of 12 percent.