IRS Refunds start on Monday – publico

 
         

                 

                         
                     

                 

 
 

The tax authorities will start paying the IRS refunds from next Monday. The Ministry of Finance confirmed Publico that “as in previous years,” the first reimbursements “shall be made within 25 days from the date of the first delivery of statements,” which began on 1 April for those who earns employment income dependent or pensions.

This is just an indicative time limit, since, officially, the Tax and Customs Authority (TA) has until 31 August each year to pay repayments. In view of the horizon of 25 days from the time a taxpayer delivers the statement and looking at the average time of repayment in recent years, it is expected that by the end of June payments are made to taxpayers with regularized tax situation and see the validated statement without differences.

in clarification sent to PUBLIC, the Finance Ministry says there is no reason “for delays in the payment of the remaining refunds “. The practice of tax authorities in recent years has experienced prioritize who delivers the IRS over the Internet (the vast majority of taxpayers, nearly 90% of the total).

Until last Sunday night were submitted on the Portal of Finance 1.8 million returns, more “151,988 than in the same period last year,” according to ministry data led by Mário Centeno. In Finance services were delivered (up to Friday of last week, April 15) about 125,000 statements, less 27,400 statements than in the comparable period last year.

in 2015 the final balance pointed to five million declarations submitted over the Internet – 3281446 statements in the first phase and 1,747,695 in the second. Unlike what happened in previous years, in 2016 the online delivery and paper due at the same time, a uniform which was introduced in the reform of the IRS.

For those who have only income from dependent work or pension, delivery took off on 1 April and extends until the last day of the month. Initially it was planned to begin earlier, but the government has managed to postpone the deadlines, because this is the first year that the system e-invoice automatically assume most of the expenses for deductions from taxable income and the authorities understood give more time to . taxpayers can handle the procedures associated with the e-invoice

the second phase of delivery of statements from 1 to 31 May, and is intended to taxpayers who have to declare other income – independent work (business and professional income), income from capital, land and property, or who have made an isolated act.