Each year the department determines withholding filing requirements based on an annual review of your account during the 12-month period of July 1 through June 30. For example, for the 2012 calendar year, we will look at the period July 1, 2010 through June 30, 2011. This is called a “look back period”. If the amount of Wage Withholding Tax remitted requires a more frequent filing schedule, the department will notify the employer before January of the next calendar year. If the employer is eligible to file less frequently the department will not change the filing status, the employer must request this change. Once we receive the request, the department will analyze your account to see if you are eligible. You must continue to file at your current frequency until we notify you of this change.
Quarterly – less than $7,000 for the look back period reviewed
Monthly – at least $7,000 but no more than $50,000 for the look back period reviewed
Weekly – more than $50,000 for the look back period reviewed
Note: The last mailing for withholding coupon booklets will be in January 2012 for existing withholding accounts who are not filing electronically. Withholding applications received on or after December 1, 2011 will be required to file by EFT or through Revenue Online. If unable to file electronically, the DR 1094 may be downloaded from the Taxation Web site, www.TaxColorado.com.
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