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- The IRS published the reporting rules this year;
- Taxpayers can start filing the return on Monday (1);
- The deadline is April 30.
On Wednesday (24), the Federal Revenue Service reported that the deadline for filing the 2021 Income Tax return, with the base year 2020, starts on March 1 and ends on April 30. Refunds start to be paid in May.
The IRS expects 32,619,749 income tax returns to be filed in 2021, that’s about 639,603 more than last year.
It is estimated that around 60% of taxpayers have taxes to be reimbursed, 19% of taxes to be paid and 21% neither to pay nor to be reimbursed.
Now you can download the IRPF 2021 filling program, as well as the application. Also, there will be a new IRS website.
Simple statement
Income applies a 20% discount, which is standard in addition to all taxable income.
Full statement
In this modality, all the possibilities of tax reduction are taken into account, this includes expenses with education, health, dependents, etc.
That the tax discount can be less than 20% and the refund may be higher.
Who should declare income tax?
They must submit the Annual Adjustment Statement for 2021, which:
- Received taxable income in 2020 higher than R $ 28,559.70;
- Received gross rural income in 2020 higher than R $ 142,798.50;
- Received non-taxable income in 2020 higher than R $ 40,000.00;
- 2020 ended with assets exceeding R $ 300,000.00;
- He received emergency assistance for any amount and other taxable income exceeding R $ 22,847.76;
- Has had a capital gain from the sale of goods, has carried out operations on the Stock Market or intends to offset losses with rural activity.
What to declare?
The taxpayer must declare everything he paid and what he received last year.
Among the earnings, it is necessary to report everything about the sale of property, rentals, real estate reforms and construction expenses.
The taxpayer must report all assets and rights that are part of his estate until December 31 of the calendar year, that is, 2020.
Vehicle and property values must be entered, regardless of value. Also, if the taxpayer has other assets such as jewelry or paintings with a value greater than R $ 5,000, they must be declared.
Even exempt earnings, such as Severance Fund Redemption (FGTS) redemption, inheritance receipt, and claims income must be reported to the IRS.
Declaration of emergency aid
Those who received the government benefit paid last year, emergency assistance and who obtained taxable income higher than R $ 22,847.76 in that year, must present the Income Tax return and return the amounts received from the benefit by him or his dependents.
According to the IRS, there are about 3 million people who received the aid and passed the income limit.
After completing the declaration, the system will generate a message informing that it has identified the earnings that exceed the limits in the declaration and will return the amount received.
Those who received only emergency aid or taxable benefits and income with a value lower than R $ 22,847.76 last year, do not need to present their income statement.
Restitution
The refund is the amount that many people can receive from the IRS after filing their income tax return.
For that, it is necessary that the taxpayer has collected more tax than he should, throughout the year, with that, the “extra” part of this contribution is returned by the IRS.
Will be five lots of rebate which will be paid monthly in the months of May, June, July, August and September. The dates will be as follows:
- 1st batch: May 31, 2021
- 2nd batch: June 30, 2021
- 3rd batch: July 30, 2021
- Fourth batch: August 31, 2021
- 5th batch: September 30, 2021
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