[ad_1]
The IRS Code establishes that when taxpayers have to return income tax to the State, they must do so before August 31, according to the latest official data available, of the more than 5.8 million IRS returns filed. this year, about a million has resulted in a collection bill.
These are taxpayers who, during 2019, obtained income that was not subject to withholding tax (as is the case with most income, for example) or for whom the withholding tax was not enough to cover the total amount . IRS you have to pay.
The tax must be paid in full by the end of today if the simplified system of installment payment that was made available has not been complied with and the measures aimed at alleviating the economic situation of families in the face of the impact were added. of the covid-19 pandemic.
This simplified quota regime does not require the creation of guarantees for those who have up to five thousand euros of personal income tax to pay, being able to divide the missing amount up to a maximum of 12 quotas, making this division based on the amount in question. For example: for values between 204 and 350 euros the maximum number of installments is two, but it increases to three if the debt varies between 351 and 500 euros.
For amounts over five thousand euros or payments in more than 12 installments it is necessary to provide a guarantee.
Adherence to this regime had to be made up to 15 days before the end of the tax payment term and whoever did so will have until today to pay the first installment, owing the following until the end of the month.
To do this, the Tax and Customs Authority (TA) issues monthly collection documents, which will be sent to the fiscal domicile, or to the mailbox “Via CTT” if the taxpayer has subscribed to this method.
Failure to pay any of the installments “implies the immediate expiration of the next installments and the start of tax enforcement procedures for the amount owed,” reads the information available on the Finance Portal.
The legislation that governs the IRS determines that, once the annual return is delivered within the established deadlines, the IRS settlement note must be sent to the taxpayer before July 31, thus giving at least a margin of one month. to prepare the payment.
According to data provided by the Undersecretary of State for Tax Affairs, António Mendonça Mendes, during a hearing in parliament in mid-July, of the 5.3 million IRS returns settled to date, 1.6 million had a result null (with no place for payment or reimbursement) around one million resulted in a collection note and 2,569 thousand in reimbursement.
The IRS annual filing drive began April 1 and ended June 30.
